Great West Life Assurance Co. Can lessened its stake in Middlesex Water (NASDAQ:MSEX) by 11.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,325 shares of the utilities provider’s stock after selling 174 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Middlesex Water were worth $82,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of MSEX. Captrust Financial Advisors bought a new position in shares of Middlesex Water in the second quarter valued at about $27,000. Baystate Wealth Management LLC purchased a new stake in Middlesex Water during the 3rd quarter valued at about $50,000. Clear Harbor Asset Management LLC purchased a new stake in Middlesex Water during the 3rd quarter valued at about $129,000. Bank of Montreal Can grew its stake in Middlesex Water by 58.5% during the 2nd quarter. Bank of Montreal Can now owns 2,782 shares of the utilities provider’s stock valued at $174,000 after purchasing an additional 1,027 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. bought a new stake in shares of Middlesex Water in the third quarter worth $182,000. Institutional investors and hedge funds own 59.21% of the company’s stock.
Separately, Zacks Investment Research downgraded Middlesex Water from a “buy” rating to a “hold” rating in a research report on Friday, October 2nd.
MSEX stock opened at $71.64 on Monday. Middlesex Water has a 12-month low of $48.79 and a 12-month high of $76.08. The company has a quick ratio of 0.39, a current ratio of 0.44 and a debt-to-equity ratio of 0.69. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 33.01 and a beta of 0.24. The company has a 50 day moving average of $71.54 and a two-hundred day moving average of $67.35.
Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings results on Wednesday, November 4th. The utilities provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $39.92 million for the quarter, compared to the consensus estimate of $39.00 million. Middlesex Water had a net margin of 27.34% and a return on equity of 11.51%. On average, research analysts anticipate that Middlesex Water will post 2.14 EPS for the current year.
About Middlesex Water
Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. The Regulated segment collects, treats, and distributes 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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