American Century Companies Inc. Has $1.56 Million Holdings in Middlesex Water (NASDAQ:MSEX)

American Century Companies Inc. raised its stake in shares of Middlesex Water (NASDAQ:MSEX) by 62.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 29,538 shares of the utilities provider’s stock after purchasing an additional 11,402 shares during the quarter. American Century Companies Inc.’s holdings in Middlesex Water were worth $1,555,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. lifted its position in Middlesex Water by 1.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 19,863 shares of the utilities provider’s stock worth $1,045,000 after purchasing an additional 202 shares during the period. Allworth Financial LP raised its stake in shares of Middlesex Water by 1,136.4% in 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 in the last quarter. FMR LLC lifted its holdings in shares of Middlesex Water by 9.7% during the 3rd quarter. FMR LLC now owns 7,018 shares of the utilities provider’s stock worth $458,000 after acquiring an additional 618 shares during the period. Illinois Municipal Retirement Fund boosted its position in shares of Middlesex Water by 10.6% during the 4th quarter. Illinois Municipal Retirement Fund now owns 10,513 shares of the utilities provider’s stock valued at $553,000 after acquiring an additional 1,009 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Middlesex Water by 16.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,313 shares of the utilities provider’s stock valued at $438,000 after acquiring an additional 1,186 shares during the period. 79.52% of the stock is currently owned by institutional investors.

Middlesex Water Stock Down 0.7 %

Shares of NASDAQ:MSEX opened at $60.46 on Thursday. 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 firm has a market cap of $1.08 billion, a P/E ratio of 26.29, a P/E/G ratio of 1.50 and a beta of 0.80. Middlesex Water has a 12 month low of $45.42 and a 12 month high of $70.73. The company’s 50-day moving average price is $57.29 and its two-hundred day moving average price is $58.94.

Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.49 EPS for the quarter, beating the consensus estimate of $0.36 by $0.13. Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%. The business had revenue of $47.11 million for the quarter, compared to analysts’ expectations of $45.00 million. During the same period in the prior year, the firm earned $0.32 earnings per share. As a group, research analysts forecast that Middlesex Water will post 2.34 EPS for the current fiscal year.

Middlesex Water Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Tuesday, February 18th. Middlesex Water’s dividend payout ratio (DPR) is presently 55.06%.

Insider Activity at Middlesex Water

In other news, Director Dennis W. Doll sold 4,067 shares of Middlesex Water stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $60.05, for a total transaction of $244,223.35. Following the completion of the sale, the director now owns 52,112 shares in the company, valued at $3,129,325.60. The trade was a 7.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.86% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on MSEX. Janney Montgomery Scott reiterated a “neutral” rating on shares of Middlesex Water in a research note on Friday, April 4th. Bank of America initiated coverage on Middlesex Water in a research note on Wednesday, December 11th. They set an “underperform” rating and a $56.00 price objective for the company. StockNews.com upgraded shares of Middlesex Water from a “sell” rating to a “hold” rating in a research note on Saturday, March 29th. Robert W. Baird raised shares of Middlesex Water from a “neutral” rating to an “outperform” rating and set a $61.00 price target for the company in a report on Monday, March 3rd. Finally, Baird R W upgraded shares of Middlesex Water from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $58.50.

Middlesex Water Company 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.