Middlesex Water Company (MSEX) Shares Bought by Parametric Portfolio Associates LLC
Parametric Portfolio Associates LLC increased its position in Middlesex Water Company (NASDAQ:MSEX) by 237.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,266 shares of the utilities provider’s stock after buying an additional 121,279 shares during the period. Parametric Portfolio Associates LLC owned approximately 1.06% of Middlesex Water Company worth $6,365,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the company. Cortina Asset Management LLC acquired a new position in Middlesex Water Company during the fourth quarter worth about $5,660,000. Bank of New York Mellon Corp increased its position in Middlesex Water Company by 50.0% in the first quarter. Bank of New York Mellon Corp now owns 185,619 shares of the utilities provider’s stock worth $6,859,000 after buying an additional 61,885 shares in the last quarter. Renaissance Technologies LLC increased its position in Middlesex Water Company by 9.5% in the fourth quarter. Renaissance Technologies LLC now owns 455,200 shares of the utilities provider’s stock worth $19,546,000 after buying an additional 39,600 shares in the last quarter. Numeric Investors LLC increased its position in Middlesex Water Company by 386.1% in the fourth quarter. Numeric Investors LLC now owns 41,816 shares of the utilities provider’s stock worth $1,796,000 after buying an additional 33,214 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in Middlesex Water Company by 17.5% in the first quarter. ProShare Advisors LLC now owns 161,399 shares of the utilities provider’s stock worth $5,964,000 after buying an additional 24,062 shares in the last quarter. Institutional investors and hedge funds own 49.06% of the company’s stock.
Shares of Middlesex Water Company (NASDAQ:MSEX) opened at 40.50 on Friday. The firm has a market capitalization of $660.27 million, a P/E ratio of 29.80 and a beta of 0.42. The firm has a 50-day moving average of $36.27 and a 200 day moving average of $37.98. Middlesex Water Company has a 52 week low of $32.23 and a 52 week high of $44.48.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 12th were issued a dividend of $0.2113 per share. This represents a $0.85 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Wednesday, May 10th. Middlesex Water Company’s dividend payout ratio (DPR) is presently 62.50%.
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Separately, Janney Montgomery Scott assumed coverage on shares of Middlesex Water Company in a research note on Friday, February 17th. They issued a “neutral” rating and a $39.00 target price for the company.
In other Middlesex Water Company news, Director Walter G. Reinhard sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $36.14, for a total transaction of $43,368.00. Following the completion of the transaction, the director now owns 81 shares in the company, valued at approximately $2,927.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.48% of the company’s stock.
Middlesex Water Company Company Profile
Middlesex Water Company is a water utility company. The Company owns and operates regulated water utility and wastewater systems in New Jersey, Delaware and Pennsylvania. The Company also operates water and wastewater systems under contract on behalf of municipal and private clients in New Jersey and Delaware.
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