The SVP & CFO of Middlesex Water Company (NASDAQ: MSEX) is Buying Shares

By Carrie Williams

Today, the SVP & CFO of Middlesex Water Company (MSEXResearch Report), Bruce Oconnor, bought shares of MSEX for $114.7K.

Following Bruce Oconnor’s last MSEX Buy transaction on June 30, 2020, the stock climbed by 12.7%. This is Oconnor’s first Buy trade following 16 Sell transactions.

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Based on Middlesex Water Company’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $34.63 million and quarterly net profit of $8.31 million. In comparison, last year the company earned revenue of $32.74 million and had a net profit of $8.07 million. The company has a one-year high of $85.92 and a one-year low of $53.70. Currently, Middlesex Water Company has an average volume of 38.68K.

In the last 30 days, insiders have sold $81.9K worth of MSEX shares and purchased $597.2K worth of MSEX shares. The insider sentiment on Middlesex Water Company has been negative according to 36 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Middlesex Water Co. owns and operates regulated water utility and wastewater systems. The firm’s services include water production, treatment, & distribution, full service municipal contract operations, wastewater collection and treatment. It operates through two segments: Regulated and Non-Regulated. The Regulated segment serves residential, commercial, industrial and municipal customers. The Non-Regulated segment engages in business activities with developers, government entities and other customers. The company was founded in 1897 and is headquartered in Iselin, NJ.