Advisors Asset Management Inc. lowered its stake in Middlesex Water Co. (NASDAQ:MSEX) by 14.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,602 shares of the company’s stock after selling 771 shares during the period. Advisors Asset Management Inc.’s holdings in Middlesex Water were worth $200,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. Aperio Group LLC bought a new stake in Middlesex Water during the first quarter valued at approximately $438,000. Mitchell Mcleod Pugh & Williams Inc. increased its stake in Middlesex Water by 6.5% in the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 10,650 shares of the company’s stock valued at $462,000 after buying an additional 650 shares during the last quarter. Bank of Montreal Can bought a new stake in Middlesex Water during the second quarter valued at approximately $257,000. Strs Ohio increased its stake in Middlesex Water by 8.2% in the second quarter. Strs Ohio now owns 6,600 shares of the company’s stock valued at $286,000 after buying an additional 500 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Middlesex Water by 10.4% in the second quarter. Bank of New York Mellon Corp now owns 127,497 shares of the company’s stock valued at $5,531,000 after buying an additional 12,037 shares during the last quarter. Institutional investors and hedge funds own 43.91% of the company’s stock.
Middlesex Water Co. (NASDAQ:MSEX) traded down 0.32% during midday trading on Wednesday, hitting $33.93. 12,704 shares of the stock traded hands. The stock has a market cap of $552.38 million, a price-to-earnings ratio of 25.32 and a beta of 0.47. Middlesex Water Co. has a one year low of $24.01 and a one year high of $44.11. The company has a 50-day moving average price of $34.92 and a 200 day moving average price of $36.95.
Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.36 earnings per share for the quarter. The firm earned $32.70 million during the quarter, compared to analysts’ expectations of $31.60 million. Middlesex Water had a net margin of 17.08% and a return on equity of 10.58%. Equities research analysts anticipate that Middlesex Water Co. will post $1.30 earnings per share for the current year.
About Middlesex Water
Middlesex Water Company is a water utility company. The Company has two segments: regulated and non-regulated. The regulated business includes 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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