Vanguard Group Inc. Sells 50,794 Shares of Middlesex Water Company $MSEX

Vanguard Group Inc. lessened its stake in Middlesex Water Company (NASDAQ:MSEX) by 3.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,373,488 shares of the utilities provider’s stock after selling 50,794 shares during the period. Vanguard Group Inc. owned 7.49% of Middlesex Water worth $74,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. HighTower Advisors LLC boosted its holdings in shares of Middlesex Water by 20.0% in the 3rd quarter. HighTower Advisors LLC now owns 23,086 shares of the utilities provider’s stock valued at $1,249,000 after buying an additional 3,843 shares in the last quarter. Public Sector Pension Investment Board raised its stake in shares of Middlesex Water by 15.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 70,322 shares of the utilities provider’s stock worth $3,806,000 after acquiring an additional 9,223 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Middlesex Water by 1.3% during the 3rd quarter. Rhumbline Advisers now owns 54,235 shares of the utilities provider’s stock worth $2,935,000 after acquiring an additional 715 shares in the last quarter. ProShare Advisors LLC lifted its position in Middlesex Water by 7.4% during the third quarter. ProShare Advisors LLC now owns 119,385 shares of the utilities provider’s stock valued at $6,461,000 after acquiring an additional 8,177 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in Middlesex Water by 2.8% during the third quarter. Oppenheimer & Co. Inc. now owns 26,765 shares of the utilities provider’s stock valued at $1,449,000 after acquiring an additional 730 shares during the last quarter. 79.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MSEX. Loop Capital set a $55.00 price target on shares of Middlesex Water in a report on Wednesday, February 25th. New Street Research set a $52.00 price objective on Middlesex Water in a report on Friday, December 5th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Middlesex Water in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Middlesex Water presently has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Middlesex Water Stock Performance

MSEX opened at $54.11 on Friday. The company has a market cap of $1.00 billion, a P/E ratio of 22.93, a price-to-earnings-growth ratio of 2.51 and a beta of 0.90. The company has a quick ratio of 0.36, a current ratio of 0.45 and a debt-to-equity ratio of 0.77. The firm’s 50-day moving average price is $52.91 and its 200-day moving average price is $53.40. Middlesex Water Company has a 52-week low of $44.17 and a 52-week high of $67.09.

Middlesex Water (NASDAQ:MSEX) last released its earnings results on Thursday, February 19th. The utilities provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). The company had revenue of $46.98 million during the quarter, compared to analyst estimates of $46.91 million. Middlesex Water had a return on equity of 9.09% and a net margin of 21.99%. As a group, equities analysts anticipate that Middlesex Water Company will post 2.34 EPS for the current fiscal year.

Middlesex Water Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Tuesday, February 17th. Middlesex Water’s payout ratio is presently 61.02%.

Insider Buying and Selling at Middlesex Water

In related news, Director Robert N. Hoglund acquired 2,000 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were purchased at an average cost of $54.31 per share, with a total value of $108,620.00. Following the completion of the acquisition, the director directly owned 2,000 shares of the company’s stock, valued at $108,620. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.32% of the stock is owned by company insiders.

About Middlesex Water

Middlesex Water Company is a regulated utility specializing in the provision of potable water and wastewater collection services to residential, commercial and industrial customers. The company operates through its wholly owned subsidiaries, supplying treated water and effectively managing sewage collection systems under state and local regulatory frameworks. Its core mission centers on delivering safe, reliable water while complying with stringent environmental and public health standards.

Founded in 1897 and headquartered in Iselin, New Jersey, Middlesex Water has grown from a local water works enterprise into a multi‐state utilities group.