Zacks Investment Research cut shares of Middlesex Water (NASDAQ:MSEX) from a buy rating to a hold rating in a research note published on Thursday morning.

According to Zacks, “Middlesex Water Company treats, stores and distributes water for residential, commercial, industrial and fire prevention purposes. “

Several other equities analysts have also recently commented on the stock. BidaskClub cut shares of Middlesex Water from a buy rating to a hold rating in a report on Wednesday, December 6th. Janney Montgomery Scott restated a buy rating and set a $44.00 price target on shares of Middlesex Water in a report on Wednesday, October 4th.

Middlesex Water (NASDAQ:MSEX) opened at $37.67 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.43 and a current ratio of 0.51. Middlesex Water has a fifty-two week low of $32.23 and a fifty-two week high of $46.74. The company has a market cap of $615.75, a price-to-earnings ratio of 30.14 and a beta of 0.45.

In other news, VP Bernadette M. Sohler sold 1,000 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $45.19, for a total transaction of $45,190.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP A Bruce Oconnor sold 4,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $43.83, for a total transaction of $175,320.00. Following the transaction, the vice president now owns 16,803 shares in the company, valued at $736,475.49. The disclosure for this sale can be found here. Insiders own 3.48% of the company’s stock.

A number of large investors have recently modified their holdings of MSEX. BB&T Investment Services Inc. bought a new stake in Middlesex Water in the second quarter worth $119,000. Legal & General Group Plc boosted its holdings in Middlesex Water by 4.1% in the second quarter. Legal & General Group Plc now owns 4,101 shares of the utilities provider’s stock worth $162,000 after purchasing an additional 161 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Middlesex Water in the second quarter worth $207,000. ELCO Management Co. LLC bought a new stake in Middlesex Water in the second quarter worth $208,000. Finally, Russell Investments Group Ltd. boosted its holdings in Middlesex Water by 15.2% in the second quarter. Russell Investments Group Ltd. now owns 7,313 shares of the utilities provider’s stock worth $290,000 after purchasing an additional 965 shares in the last quarter. Hedge funds and other institutional investors own 50.28% of the company’s stock.

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About Middlesex Water

Middlesex Water Company is a water utility company. The Company owns and operates regulated water utility and wastewater systems in New Jersey, Delaware and Pennsylvania. The Company also operates water and wastewater systems under contract on behalf of municipal and private clients in New Jersey and Delaware.

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