Russell Investments Group Ltd. Has $421,000 Stock Position in Middlesex Water (NASDAQ:MSEX)

Russell Investments Group Ltd. grew its holdings in shares of Middlesex Water (NASDAQ:MSEX) by 11.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,991 shares of the utilities provider’s stock after acquiring an additional 813 shares during the period. Russell Investments Group Ltd.’s holdings in Middlesex Water were worth $421,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new position in Middlesex Water during the 4th quarter worth $302,000. Wells Fargo & Company MN increased its stake in shares of Middlesex Water by 13.7% in the fourth quarter. Wells Fargo & Company MN now owns 12,613 shares of the utilities provider’s stock valued at $664,000 after buying an additional 1,522 shares during the period. Franklin Resources Inc. bought a new position in shares of Middlesex Water during the fourth quarter worth about $690,000. Pictet Asset Management Holding SA lifted its stake in shares of Middlesex Water by 31.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 5,009 shares of the utilities provider’s stock worth $264,000 after acquiring an additional 1,192 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Middlesex Water by 187.2% in the fourth quarter. JPMorgan Chase & Co. now owns 92,560 shares of the utilities provider’s stock worth $4,871,000 after acquiring an additional 60,337 shares during the period. Institutional investors own 79.52% of the company’s stock.

Insiders Place Their Bets

In other Middlesex Water news, Director Dennis W. Doll sold 4,067 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $60.05, for a total value of $244,223.35. Following the transaction, the director now directly owns 52,112 shares in the company, valued at $3,129,325.60. The trade was a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.86% of the company’s stock.

Middlesex Water Price Performance

Middlesex Water stock opened at $62.68 on Thursday. The stock’s 50 day moving average price is $59.74 and its two-hundred day moving average price is $58.86. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 1.50 and a beta of 0.80. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.57 and a current ratio of 0.65. Middlesex Water has a 52-week low of $47.58 and a 52-week high of $70.73.

Middlesex Water (NASDAQ:MSEX) last posted its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.13. The business had revenue of $47.11 million for 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 period in the prior year, the business earned $0.32 EPS. On average, equities analysts predict that Middlesex Water will post 2.34 earnings per share for the current year.

Middlesex Water Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were issued a dividend of $0.34 per share. 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 (DPR) is currently 55.06%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Baird R W upgraded shares of Middlesex Water from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd. Robert W. Baird upgraded shares of Middlesex Water from a “neutral” rating to an “outperform” rating and set a $61.00 price objective for the company in a research report on Monday, March 3rd. StockNews.com upgraded shares of Middlesex Water from a “sell” rating to a “hold” rating in a report on Friday, April 18th. Finally, Janney Montgomery Scott reiterated a “neutral” rating on shares of Middlesex Water in a report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Middlesex Water presently has a consensus rating of “Hold” and a consensus price target of $58.50.

Middlesex Water 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.