Middlesex water director Walter Reinhard sells $40,273 in stock

Published 29/05/2025, 20:00
Middlesex water director Walter Reinhard sells $40,273 in stock

Walter G. Reinhard, a director at Middlesex Water Co. (NASDAQ:MSEX), recently sold shares valued at approximately $40,273 in the $1.03 billion market cap utility company. According to a filing with the Securities and Exchange Commission, Reinhard sold 702 shares of common stock at an average price of $57.3703 per share on May 28, 2025. The stock currently trades at $57.50, with a P/E ratio of 23.7x. InvestingPro analysis indicates the stock is trading near its Fair Value. Following this transaction, Reinhard holds 6,351 shares in direct ownership. The company has maintained an impressive track record of raising dividends for 21 consecutive years, with a current yield of 2.37%. InvestingPro subscribers can access additional insights, including 6 more key tips about MSEX’s financial health and growth prospects.

In other recent news, Middlesex Water Company announced an at-the-market equity offering agreement to sell common stock shares worth up to $110 million. The agreement, made with BofA Securities, Inc., Robert W. Baird & Co. Incorporated, and Janney Montgomery Scott LLC as sales agents, allows Middlesex to sell shares at market prices on the Nasdaq Global Select Market. Proceeds from this offering will be used for capital expenditures and general corporate purposes. Additionally, Baird analysts upgraded Middlesex Water’s stock rating from Neutral to Outperform, setting a price target of $61.00. This upgrade follows a strong fourth-quarter performance and highlights the company’s long-term growth estimates for capital investment, which exceeded previous forecasts. Baird’s analysis suggests that Middlesex Water is well-positioned for future growth despite potential industry challenges. In leadership news, Middlesex Water appointed Nadine Leslie as the new Chair of the Board, succeeding Dennis W. Doll. Amy Mansue was also named Lead Independent (LON:IOG) Director, reinforcing the company’s commitment to strong governance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.