Charles Schwab Investment Management Inc. Grows Stock Holdings in Middlesex Water (NASDAQ:MSEX)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Middlesex Water (NASDAQ:MSEX - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 172,472 shares of the utilities provider's stock after acquiring an additional 5,191 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.97% of Middlesex Water worth $9,077,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp raised its holdings in Middlesex Water by 7.0% in the 3rd quarter. State Street Corp now owns 813,455 shares of the utilities provider's stock worth $53,070,000 after purchasing an additional 53,098 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Middlesex Water in the fourth quarter worth about $1,595,000. Barclays PLC lifted its holdings 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 buying an additional 23,262 shares during the period. Thematics Asset Management boosted its position in Middlesex Water by 5.8% during the 3rd quarter. Thematics Asset Management now owns 181,000 shares of the utilities provider's stock valued at $11,808,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Middlesex Water by 3.4% during the 4th quarter. Bank of New York Mellon Corp now owns 214,913 shares of the utilities provider's stock worth $11,311,000 after acquiring an additional 6,983 shares during the period. Institutional investors own 79.52% of the company's stock.

Remove Ads

Insider Activity at Middlesex Water

In other Middlesex Water news, Director Dennis W. Doll sold 4,067 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $60.05, for a total transaction of $244,223.35. Following the sale, the director now directly owns 52,112 shares in the company, valued at approximately $3,129,325.60. This trade represents a 7.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.86% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MSEX has been the subject of a number of research analyst reports. StockNews.com upgraded Middlesex Water from a "sell" rating to a "hold" rating in a research note on Wednesday, March 19th. Baird R W raised Middlesex Water from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 3rd. Bank of America assumed coverage on shares of Middlesex Water in a research report on Wednesday, December 11th. They issued an "underperform" rating and a $56.00 target price on the stock. Finally, Robert W. Baird upgraded shares of Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 price target for the company in a research note on Monday, March 3rd.

Middlesex Water Stock Up 1.6 %

MSEX stock traded up $0.94 on Wednesday, reaching $61.53. 1,087,632 shares of the company traded hands, compared to its average volume of 124,065. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.65 and a quick ratio of 0.57. The firm has a fifty day simple moving average of $54.16 and a 200-day simple moving average of $59.09. Middlesex Water has a one year low of $45.42 and a one year high of $70.73. The company has a market cap of $1.10 billion, a P/E ratio of 26.75, a price-to-earnings-growth ratio of 1.50 and a beta of 0.85.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last issued its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.49 earnings per share for the quarter, beating the consensus estimate 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 period last year, the company earned $0.32 earnings per share. Research analysts anticipate that Middlesex Water will post 2.34 earnings per share for the current year.

Middlesex Water Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Tuesday, February 18th. Middlesex Water's payout ratio is 55.06%.

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.