Middlesex Water (NASDAQ:MSEX) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its position in shares of Middlesex Water (NASDAQ:MSEX) by 12.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,767 shares of the utilities provider’s stock after selling 2,566 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Middlesex Water were worth $988,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MSEX. Allworth Financial LP boosted its position in Middlesex Water by 1,136.4% in the 4th quarter. Allworth Financial LP now owns 544 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 500 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Middlesex Water by 1,006.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 520 shares of the utilities provider’s stock valued at $27,000 after buying an additional 473 shares during the period. Crowley Wealth Management Inc. purchased a new position in Middlesex Water in the fourth quarter valued at $37,000. Victory Capital Management Inc. purchased a new stake in shares of Middlesex Water during the 3rd quarter worth about $230,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Middlesex Water during the 3rd quarter valued at about $271,000. 79.52% of the stock is currently owned by institutional investors and hedge funds.

Middlesex Water Stock Performance

Shares of NASDAQ:MSEX opened at $61.95 on Friday. 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 $45.42 and a 1 year high of $70.73. The firm has a market capitalization of $1.11 billion, a PE ratio of 26.93, a P/E/G ratio of 1.50 and a beta of 0.85. The business’s 50 day moving average price is $54.60 and its 200-day moving average price is $59.12.

Middlesex Water (NASDAQ:MSEX) last announced its quarterly earnings data on Friday, February 28th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.13. Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%. The company had revenue of $47.11 million during the quarter, compared to analysts’ expectations of $45.00 million. During the same quarter in the prior year, the company earned $0.32 EPS. As a group, equities research analysts expect that Middlesex Water will post 2.34 earnings per share for the current fiscal year.

Middlesex Water Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Tuesday, February 18th. Middlesex Water’s payout ratio is currently 55.06%.

Insiders Place Their Bets

In other 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 transaction of $244,223.35. Following the transaction, the director now owns 52,112 shares of the company’s stock, valued at approximately $3,129,325.60. The trade was a 7.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.86% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on MSEX. Bank of America began coverage on Middlesex Water in a research report on Wednesday, December 11th. They issued an “underperform” rating and a $56.00 price objective for the company. Robert W. Baird raised shares of Middlesex Water from a “neutral” rating to an “outperform” rating and set a $61.00 price target for the company in a report on Monday, March 3rd. Baird R W raised shares of Middlesex Water from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd. Finally, StockNews.com raised shares of Middlesex Water from a “sell” rating to a “hold” rating in a research note on Wednesday, March 19th.

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.