KBC Group NV Sells 254,409 Shares of Middlesex Water (NASDAQ:MSEX)

KBC Group NV lowered its stake in shares of Middlesex Water (NASDAQ:MSEX) by 99.6% during the fourth quarter, HoldingsChannel reports. The firm owned 961 shares of the utilities provider’s stock after selling 254,409 shares during the quarter. KBC Group NV’s holdings in Middlesex Water were worth $51,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp increased its holdings in Middlesex Water by 7.0% during the third quarter. State Street Corp now owns 813,455 shares of the utilities provider’s stock worth $53,070,000 after buying an additional 53,098 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Middlesex Water by 89.0% in the third quarter. Assenagon Asset Management S.A. now owns 74,946 shares of the utilities provider’s stock valued at $4,889,000 after acquiring an additional 35,282 shares during the last quarter. Barclays PLC increased its stake in shares of Middlesex Water by 349.4% during the 3rd quarter. Barclays PLC now owns 29,919 shares of the utilities provider’s stock worth $1,952,000 after purchasing an additional 23,262 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Middlesex Water during the 3rd quarter worth about $1,392,000. Finally, Thematics Asset Management raised its holdings in shares of Middlesex Water by 5.8% in the 3rd quarter. Thematics Asset Management now owns 181,000 shares of the utilities provider’s stock valued at $11,808,000 after purchasing an additional 10,000 shares during the period. Institutional investors own 79.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Bank of America started coverage on Middlesex Water in a report on Wednesday, December 11th. They set an “underperform” rating and a $56.00 price target for the company. Robert W. Baird lifted their target price on Middlesex Water from $58.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st.

Middlesex Water Stock Down 0.0 %

Shares of MSEX opened at $49.39 on Tuesday. The firm has a market cap of $881.86 million, a P/E ratio of 21.47, a price-to-earnings-growth ratio of 1.49 and a beta of 0.85. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.57 and a current ratio of 0.65. Middlesex Water has a 52 week low of $45.42 and a 52 week high of $70.73. The firm’s 50-day simple moving average is $53.34 and its 200 day simple moving average is $60.43.

Middlesex Water Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Tuesday, February 18th. Middlesex Water’s payout ratio is 59.13%.

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.