Daiwa Securities Group Inc. Increases Stake in Middlesex Water (NASDAQ:MSEX)

Daiwa Securities Group Inc. grew its position in Middlesex Water (NASDAQ:MSEX) by 13.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,180 shares of the utilities provider’s stock after acquiring an additional 878 shares during the period. Daiwa Securities Group Inc.’s holdings in Middlesex Water were worth $375,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MSEX. Charles Schwab Investment Management Inc. boosted its position in shares of Middlesex Water by 5.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 146,041 shares of the utilities provider’s stock worth $9,583,000 after purchasing an additional 7,893 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Middlesex Water by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 467,032 shares of the utilities provider’s stock worth $30,648,000 after purchasing an additional 1,546 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Middlesex Water by 958.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,439 shares of the utilities provider’s stock valued at $94,000 after buying an additional 1,303 shares in the last quarter. Corient Private Wealth LLC raised its stake in shares of Middlesex Water by 4.5% during the 4th quarter. Corient Private Wealth LLC now owns 14,756 shares of the utilities provider’s stock worth $968,000 after buying an additional 638 shares during the last quarter. Finally, KBC Group NV grew its stake in Middlesex Water by 16.1% in the 4th quarter. KBC Group NV now owns 255,015 shares of the utilities provider’s stock valued at $16,734,000 after acquiring an additional 35,332 shares during the last quarter. 79.52% of the stock is owned by hedge funds and other institutional investors.

Middlesex Water Price Performance

Shares of NASDAQ MSEX opened at $67.44 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.90 and a quick ratio of 0.85. Middlesex Water has a 1-year low of $45.42 and a 1-year high of $73.47. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 33.39 and a beta of 0.79. The business has a 50-day moving average of $62.17 and a 200-day moving average of $55.54.

Middlesex Water (NASDAQ:MSEX) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.05). Middlesex Water had a net margin of 21.14% and a return on equity of 8.69%. The firm had revenue of $49.15 million during the quarter, compared to analysts’ expectations of $47.00 million. On average, equities analysts anticipate that Middlesex Water will post 2.21 EPS for the current fiscal year.

Middlesex Water Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were paid a $0.325 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.30 dividend on an annualized basis and a yield of 1.93%. Middlesex Water’s dividend payout ratio (DPR) is 64.36%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MSEX. Robert W. Baird lowered shares of Middlesex Water from an “outperform” rating to a “neutral” rating and set a $58.00 price objective for the company. in a research report on Monday, August 5th. Baird R W downgraded Middlesex Water from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 5th.

Middlesex Water Profile

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.