Public Sector Pension Investment Board Has $2.47 Million Holdings in Middlesex Water (NASDAQ:MSEX)

Public Sector Pension Investment Board decreased its holdings in shares of Middlesex Water (NASDAQ:MSEX) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,784 shares of the utilities provider’s stock after selling 1,400 shares during the quarter. Public Sector Pension Investment Board’s holdings in Middlesex Water were worth $2,465,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MSEX. Duff & Phelps Investment Management Co. acquired a new stake in shares of Middlesex Water during the 2nd quarter worth approximately $2,016,000. Assenagon Asset Management S.A. grew its position in shares of Middlesex Water by 89.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 74,946 shares of the utilities provider’s stock worth $4,889,000 after buying an additional 35,282 shares during the period. Bank of New York Mellon Corp grew its position in shares of Middlesex Water by 12.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 219,119 shares of the utilities provider’s stock worth $11,451,000 after buying an additional 24,400 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Middlesex Water during the 3rd quarter worth approximately $1,392,000. Finally, SG Americas Securities LLC grew its position in shares of Middlesex Water by 479.7% during the 3rd quarter. SG Americas Securities LLC now owns 23,366 shares of the utilities provider’s stock worth $1,524,000 after buying an additional 19,335 shares during the period. Institutional investors and hedge funds own 79.52% of the company’s stock.

Middlesex Water Stock Down 1.2 %

Middlesex Water stock opened at $61.88 on Thursday. The company’s 50 day simple moving average is $65.10 and its 200 day simple moving average is $61.03. Middlesex Water has a fifty-two week low of $45.42 and a fifty-two week high of $73.47. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 26.90 and a beta of 0.82. 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 (NASDAQ:MSEX) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.13. Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%. The business had revenue of $55.10 million for the quarter, compared to analyst estimates of $50.00 million. During the same quarter last year, the firm earned $0.56 EPS. As a group, sell-side analysts anticipate that Middlesex Water will post 2.34 EPS for the current year.

Middlesex Water Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a yield of 2.20%. This is a positive change from Middlesex Water’s previous quarterly dividend of $0.33. Middlesex Water’s payout ratio is presently 59.13%.

Analyst Ratings Changes

Separately, Robert W. Baird lifted their price target on shares of Middlesex Water from $58.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st.

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.