Principal Financial Group Inc. Acquires 23,911 Shares of Middlesex Water Company $MSEX

Principal Financial Group Inc. raised its holdings in shares of Middlesex Water Company (NASDAQ:MSEX) by 23.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 126,343 shares of the utilities provider’s stock after acquiring an additional 23,911 shares during the quarter. Principal Financial Group Inc.’s holdings in Middlesex Water were worth $6,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Nisa Investment Advisors LLC grew its position in shares of Middlesex Water by 35.8% in the third quarter. Nisa Investment Advisors LLC now owns 645 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 170 shares in the last quarter. Amalgamated Bank boosted its stake in Middlesex Water by 3.5% in the 3rd quarter. Amalgamated Bank now owns 5,257 shares of the utilities provider’s stock worth $285,000 after purchasing an additional 179 shares during the period. Raymond James Financial Inc. boosted its stake in Middlesex Water by 1.8% in the 2nd quarter. Raymond James Financial Inc. now owns 10,691 shares of the utilities provider’s stock worth $579,000 after purchasing an additional 193 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Middlesex Water by 3.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,602 shares of the utilities provider’s stock valued at $358,000 after buying an additional 208 shares in the last quarter. Finally, Parcion Private Wealth LLC increased its position in shares of Middlesex Water by 3.7% during the third quarter. Parcion Private Wealth LLC now owns 8,311 shares of the utilities provider’s stock valued at $450,000 after buying an additional 296 shares during the period. Hedge funds and other institutional investors own 79.52% of the company’s stock.

Middlesex Water Stock Up 3.4%

Shares of NASDAQ MSEX opened at $55.39 on Friday. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average of $52.19 and a 200-day moving average of $53.21. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 3.47 and a beta of 0.89. Middlesex Water Company has a 12 month low of $44.17 and a 12 month high of $67.09.

Middlesex Water Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, February 17th. Middlesex Water’s payout ratio is currently 60.25%.

Analyst Upgrades and Downgrades

MSEX has been the subject of a number of analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Middlesex Water in a research report on Thursday, January 22nd. New Street Research set a $52.00 target price on shares of Middlesex Water in a research note on Friday, December 5th. Finally, Robert W. Baird cut their price target on shares of Middlesex Water from $73.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $60.33.

About Middlesex Water

Middlesex Water Company is a regulated utility specializing in the provision of potable water and wastewater collection services to residential, commercial and industrial customers. The company operates through its wholly owned subsidiaries, supplying treated water and effectively managing sewage collection systems under state and local regulatory frameworks. Its core mission centers on delivering safe, reliable water while complying with stringent environmental and public health standards.

Founded in 1897 and headquartered in Iselin, New Jersey, Middlesex Water has grown from a local water works enterprise into a multi‐state utilities group.