Renaissance Technologies LLC Sells 26,387 Shares of Middlesex Water (NASDAQ:MSEX)

Renaissance Technologies LLC lessened its stake in Middlesex Water (NASDAQ:MSEX - Free Report) by 14.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 161,213 shares of the utilities provider's stock after selling 26,387 shares during the quarter. Renaissance Technologies LLC owned approximately 0.90% of Middlesex Water worth $8,485,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Middlesex Water by 1,006.4% during the 4th 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 last quarter. Allworth Financial LP grew its position in shares of Middlesex Water by 1,136.4% during the 4th quarter. Allworth Financial LP now owns 544 shares of the utilities provider's stock valued at $27,000 after buying an additional 500 shares during the last quarter. Crowley Wealth Management Inc. bought a new stake in shares of Middlesex Water during the 4th quarter valued at about $37,000. Pictet Asset Management Holding SA grew its position in shares of Middlesex Water by 31.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 5,009 shares of the utilities provider's stock valued at $264,000 after buying an additional 1,192 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Middlesex Water during the 4th quarter valued at about $302,000. Institutional investors and hedge funds own 79.52% of the company's stock.

Insider Buying and Selling 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 value of $244,223.35. Following the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.86% of the company's stock.

Middlesex Water Price Performance

MSEX stock traded down $0.97 during midday trading on Wednesday, reaching $62.29. 26,528 shares of the company's stock traded hands, compared to its average volume of 130,581. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 1.50 and a beta of 0.80. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 0.80. The company has a 50-day simple moving average of $59.50 and a two-hundred day simple moving average of $58.84. Middlesex Water has a 1-year low of $47.58 and a 1-year high of $70.73.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last announced its quarterly earnings data on Friday, February 28th. The utilities provider reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.13. The firm had revenue of $47.11 million for the quarter, compared to analyst estimates 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 EPS. On average, analysts anticipate that Middlesex Water will post 2.34 earnings per share for the current year.

Middlesex Water Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were given a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.36 dividend on an annualized basis and a yield of 2.18%. Middlesex Water's payout ratio is 55.06%.

Analyst Upgrades and Downgrades

MSEX has been the subject of a number of recent research reports. Robert W. Baird raised 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. Janney Montgomery Scott reiterated a "neutral" rating on shares of Middlesex Water in a report on Friday, April 4th. Baird R W upgraded shares of Middlesex Water from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 3rd. Finally, StockNews.com upgraded shares of Middlesex Water from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. One 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. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $58.50.

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.