International Assets Investment Management LLC Purchases 3,296 Shares of Middlesex Water (NASDAQ:MSEX)

International Assets Investment Management LLC grew its position in Middlesex Water (NASDAQ:MSEX) by 6,462.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,347 shares of the utilities provider’s stock after acquiring an additional 3,296 shares during the period. International Assets Investment Management LLC’s holdings in Middlesex Water were worth $220,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Creative Financial Designs Inc. ADV lifted its stake in shares of Middlesex Water by 114.9% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,923 shares of the utilities provider’s stock valued at $126,000 after acquiring an additional 1,028 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Middlesex Water by 138.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,903 shares of the utilities provider’s stock valued at $192,000 after acquiring an additional 1,685 shares during the last quarter. Crestwood Advisors Group LLC bought a new position in Middlesex Water during the 3rd quarter worth $212,000. WINTON GROUP Ltd bought a new position in Middlesex Water during the 3rd quarter worth $217,000. Finally, TIAA Trust National Association bought a new position in Middlesex Water during the 3rd quarter worth $242,000. 79.52% of the stock is currently owned by institutional investors.

Middlesex Water Stock Up 0.8 %

Shares of NASDAQ:MSEX opened at $49.18 on Friday. The firm has a market cap of $875.90 million, a P/E ratio of 27.94 and a beta of 0.74. The company has a quick ratio of 0.98, a current ratio of 1.05 and a debt-to-equity ratio of 0.85. Middlesex Water has a 12-month low of $45.42 and a 12-month high of $84.38. The business has a fifty day simple moving average of $50.44 and a 200 day simple moving average of $58.75.

Middlesex Water (NASDAQ:MSEX) last announced its earnings results on Thursday, February 29th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.14). Middlesex Water had a return on equity of 7.61% and a net margin of 18.96%. The company had revenue of $38.60 million for the quarter, compared to the consensus estimate of $41.00 million. Analysts predict that Middlesex Water will post 2.28 earnings per share for the current year.

Middlesex Water Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be given a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Tuesday, May 14th. Middlesex Water’s dividend payout ratio (DPR) is presently 73.86%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird lowered their target price on Middlesex Water from $69.00 to $59.00 and set an “outperform” rating for the company in a research report on Friday, March 1st.

Insider Transactions at Middlesex Water

In other Middlesex Water news, Director James F. Jr. Cosgrove acquired 1,600 shares of the stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average cost of $51.70 per share, with a total value of $82,720.00. Following the transaction, the director now owns 9,342 shares in the company, valued at approximately $482,981.40. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.86% of the company’s stock.

About Middlesex Water

Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in Regulated and Non-Regulated segments. The Regulated segment collects, treats, and distributes water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers, as well as provides regulated wastewater systems in New Jersey and Delaware.