Geode Capital Management LLC Decreases Stock Holdings in Middlesex Water (NASDAQ:MSEX)

Geode Capital Management LLC lowered its holdings in Middlesex Water (NASDAQ:MSEX) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 431,767 shares of the utilities provider’s stock after selling 2,792 shares during the period. Geode Capital Management LLC owned about 2.42% of Middlesex Water worth $22,730,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its stake in shares of Middlesex Water by 9.7% during the 3rd quarter. FMR LLC now owns 7,018 shares of the utilities provider’s stock worth $458,000 after purchasing an additional 618 shares during the period. State Street Corp increased its holdings in Middlesex Water by 7.0% during the third quarter. State Street Corp now owns 813,455 shares of the utilities provider’s stock worth $53,070,000 after buying an additional 53,098 shares during the last quarter. Barclays PLC raised its position in Middlesex Water by 349.4% in the third quarter. Barclays PLC now owns 29,919 shares of the utilities provider’s stock worth $1,952,000 after acquiring an additional 23,262 shares during the period. Inspire Investing LLC boosted its stake in Middlesex Water by 20.8% in the fourth quarter. Inspire Investing LLC now owns 7,633 shares of the utilities provider’s stock valued at $402,000 after acquiring an additional 1,315 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of Middlesex Water by 1,136.4% during the 4th quarter. Allworth Financial LP now owns 544 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 500 shares during the period. Institutional investors own 79.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Janney Montgomery Scott reiterated a “neutral” rating on shares of Middlesex Water in a research note on Friday, April 4th. StockNews.com raised Middlesex Water from a “sell” rating to a “hold” rating in a research report on Friday. Robert W. Baird raised Middlesex Water from a “neutral” rating to an “outperform” rating and set a $61.00 price objective for the company in a report on Monday, March 3rd. Finally, Baird R W upgraded shares of Middlesex Water from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Middlesex Water presently has a consensus rating of “Hold” and an average price target of $58.50.

Middlesex Water Stock Performance

NASDAQ MSEX opened at $62.66 on Friday. The company’s 50 day simple moving average is $59.00 and its two-hundred day simple moving average is $58.88. The stock has a market capitalization of $1.12 billion, a PE ratio of 27.24, a P/E/G ratio of 1.50 and a beta of 0.80. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.65 and a quick ratio of 0.57. Middlesex Water has a 1 year low of $46.30 and a 1 year high of $70.73.

Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.13. The firm had revenue of $47.11 million during the quarter, compared to the consensus estimate of $45.00 million. Middlesex Water had a return on equity of 9.58% and a net margin of 22.53%. During the same quarter last year, the company posted $0.32 EPS. Analysts predict that Middlesex Water will post 2.34 earnings per share for the current fiscal year.

Middlesex Water Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were paid a $0.34 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.36 dividend on an annualized basis and a yield of 2.17%. Middlesex Water’s dividend payout ratio is presently 55.06%.

Insider Transactions at Middlesex Water

In other news, Director Dennis W. Doll sold 4,067 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $60.05, for a total transaction of $244,223.35. Following the transaction, the director now directly owns 52,112 shares in the company, valued at approximately $3,129,325.60. This represents a 7.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.86% of the company’s stock.

Middlesex Water Company Profile

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.