Corient Private Wealth LLC Buys 638 Shares of Middlesex Water (NASDAQ:MSEX)

Corient Private Wealth LLC grew its holdings in Middlesex Water (NASDAQ:MSEXFree Report) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,756 shares of the utilities provider’s stock after purchasing an additional 638 shares during the quarter. Corient Private Wealth LLC owned approximately 0.08% of Middlesex Water worth $968,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Quadrant Capital Group LLC raised its holdings in shares of Middlesex Water by 958.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,439 shares of the utilities provider’s stock valued at $94,000 after purchasing an additional 1,303 shares in the last quarter. Creative Financial Designs Inc. ADV grew its position 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 worth $126,000 after buying an additional 1,028 shares during the last quarter. Crestwood Advisors Group LLC purchased a new position in shares of Middlesex Water in the 3rd quarter worth approximately $212,000. WINTON GROUP Ltd purchased a new position in shares of Middlesex Water in the 3rd quarter worth approximately $217,000. Finally, International Assets Investment Management LLC grew its position in shares of Middlesex Water by 6,462.7% in the 4th quarter. International Assets Investment Management LLC now owns 3,347 shares of the utilities provider’s stock worth $220,000 after buying an additional 3,296 shares during the last quarter. Institutional investors own 79.52% of the company’s stock.

Middlesex Water Stock Down 0.5 %

NASDAQ:MSEX opened at $53.62 on Tuesday. The company has a market cap of $956.04 million, a PE ratio of 26.54 and a beta of 0.79. Middlesex Water has a twelve month low of $45.42 and a twelve month high of $84.38. The company has a current ratio of 0.95, a quick ratio of 0.89 and a debt-to-equity ratio of 0.83. The company’s 50 day moving average is $51.82 and its two-hundred day moving average is $56.86.

Middlesex Water (NASDAQ:MSEXGet Free Report) last released its earnings results on Wednesday, May 8th. The utilities provider reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.14. The company had revenue of $40.52 million for the quarter, compared to the consensus estimate of $42.00 million. Middlesex Water had a net margin of 21.55% and a return on equity of 8.64%. Analysts anticipate that Middlesex Water will post 2.28 EPS for the current year.

Middlesex Water Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were issued a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Tuesday, May 14th. Middlesex Water’s dividend payout ratio (DPR) is currently 64.36%.

Insider Activity

In other Middlesex Water news, Director James F. Jr. Cosgrove acquired 1,600 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $51.70 per share, with a total value of $82,720.00. Following the acquisition, the director now directly owns 9,342 shares of the company’s stock, valued at $482,981.40. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Middlesex Water news, Director James F. Jr. Cosgrove acquired 1,600 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $51.70 per share, with a total value of $82,720.00. Following the acquisition, the director now directly owns 9,342 shares of the company’s stock, valued at $482,981.40. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Walter G. Reinhard sold 857 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $57.16, for a total transaction of $48,986.12. Following the completion of the sale, the director now directly owns 7,151 shares in the company, valued at $408,751.16. The disclosure for this sale can be found here. Insiders own 1.86% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. StockNews.com raised shares of Middlesex Water to a “sell” rating in a research report on Thursday, May 9th. Robert W. Baird lifted their price objective on shares of Middlesex Water from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th.

Read Our Latest Analysis on Middlesex Water

Middlesex Water Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Middlesex Water (NASDAQ:MSEX)

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