7,000 Shares in Middlesex Water (MSEX) Purchased by Mackay Shields LLC

Mackay Shields LLC bought a new stake in shares of Middlesex Water (NASDAQ:MSEX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,000 shares of the utilities provider’s stock, valued at approximately $373,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Trust Co. of Vermont bought a new position in shares of Middlesex Water during the fourth quarter valued at approximately $25,000. Quantamental Technologies LLC bought a new position in shares of Middlesex Water during the fourth quarter valued at approximately $41,000. ClariVest Asset Management LLC bought a new position in shares of Middlesex Water during the fourth quarter valued at approximately $73,000. ETF Managers Group LLC increased its stake in shares of Middlesex Water by 15.7% during the fourth quarter. ETF Managers Group LLC now owns 3,551 shares of the utilities provider’s stock valued at $189,000 after purchasing an additional 483 shares in the last quarter. Finally, Ibex Investors LLC bought a new position in shares of Middlesex Water during the fourth quarter valued at approximately $213,000. 54.88% of the stock is owned by institutional investors and hedge funds.

In other news, Director Walter G. Reinhard sold 500 shares of the stock in a transaction that occurred on Friday, January 25th. The shares were sold at an average price of $58.01, for a total transaction of $29,005.00. Following the sale, the director now owns 81 shares in the company, valued at $4,698.81. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Dennis W. Doll sold 2,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $57.85, for a total transaction of $115,700.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,726 shares of company stock worth $214,444. Corporate insiders own 3.48% of the company’s stock.

NASDAQ:MSEX opened at $55.07 on Tuesday. Middlesex Water has a 52 week low of $34.74 and a 52 week high of $60.48. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.27 and a current ratio of 0.33. The company has a market cap of $919.88 million, a PE ratio of 28.57 and a beta of 0.43.

Middlesex Water (NASDAQ:MSEX) last posted its quarterly earnings results on Friday, March 8th. The utilities provider reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. Middlesex Water had a net margin of 23.48% and a return on equity of 13.50%. The firm had revenue of $33.27 million for the quarter, compared to analysts’ expectations of $33.00 million. As a group, equities analysts predict that Middlesex Water will post 2.05 earnings per share for the current fiscal year.

MSEX has been the topic of a number of recent analyst reports. BidaskClub cut shares of Middlesex Water from a “buy” rating to a “hold” rating in a report on Friday, February 8th. Zacks Investment Research cut shares of Middlesex Water from a “buy” rating to a “hold” rating in a report on Tuesday, February 5th. Finally, Janney Montgomery Scott cut shares of Middlesex Water from a “buy” rating to a “neutral” rating in a report on Monday, December 17th. They noted that the move was a valuation call.

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About Middlesex Water

Middlesex Water Company, together with its subsidiaries, owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. The Regulated segment engages in collecting, treating, and distributing water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers in parts of New Jersey, Delaware, and Pennsylvania.

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

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