MSEXNasdaqWater SupplyFiscal year ends December 31Also trades as MSEXP
MIDDLESEX WATER CO
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$53.26−1.33 (-2.44%)
Close on Oct 19, 2026
- Market cap
- $997.93M
- P/E (TTM)
- 20.6
- Dividend yield
- 2.59%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
16M
Shares held, 13F filers
Institutional holders
226
32 new, 21 sold out
Net institutional buying
1M
In Q2 2026
Insider trades, 12 months
1 buys · 4 sales
Net bought $16.29K
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Vanguard Capital Management | 961,148 | 5.18% | 13G (passive) | Mar 31, 2026 |
| BlackRock, Inc. | 2,981,660 | 16.10% | 13G (passive) amendment | Mar 31, 2026 |
| T. Rowe Price Investment Management, Inc. | 1,636,213 | 9.10% | 13G (passive) amendment | Sep 30, 2025 |
| Neuberger Berman Group LLC | 1,011,454 | 5.60% | 13G (passive) | Sep 30, 2025 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of MSEX | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 3,134,461 | – | $176.03M | +117,859 | 0.00% |
| T. Rowe Price Investment Management, Inc. | 1,746,560 | – | $98.09K | +4,468 | 0.06% |
| Neuberger Berman Group LLC | 1,604,067 | – | $90.08M | +54,161 | 0.06% |
| Morgan Stanley | 1,101,704 | – | $61.87M | −5,911 | 0.00% |
| Vanguard Capital Management LLC | 802,323 | – | $45.06M | −25,630 | 0.00% |
| State Street Corp | 798,240 | – | $44.83M | +54,178 | 0.00% |
| Vanguard Portfolio Management LLC | 513,809 | – | $28.86M | +25,742 | 0.00% |
| Geode Capital Management, LLC | 500,555 | – | $28.12M | +30,638 | 0.00% |
| Legal & General Group Plc | 437,504 | – | $24.57M | +31,657 | 0.01% |
| Dimensional Fund Advisors LP | 348,430 | – | $19.57M | +2,669 | 0.00% |
| Invesco Ltd. | 280,212 | – | $15.74M | −10,419 | 0.00% |
| Ledgewood Wealth Advisors, LLC | 254,016 | – | $14.27M | – | 7.57% |
| Northern Trust Corp | 222,747 | – | $12.51M | +24,651 | 0.00% |
| TSP Capital Management Group, LLC | 211,037 | – | $11.85M | New | 2.84% |
| Charles Schwab Investment Management Inc | 193,653 | – | $10.88M | +1,768 | 0.00% |
| Bank of New York Mellon Corp | 179,021 | – | $10.05M | +1,403 | 0.00% |
| Zimmer Partners, LP | 176,903 | – | $9.93M | – | 0.23% |
| Two Sigma Investments, LP | 163,002 | – | $9.15M | +97,485 | 0.01% |
| Mirova | 159,067 | – | $8.93M | −36,933 | 0.33% |
| First Manhattan Co. LLC. | 141,624 | – | $7.95M | −2,265 | 0.02% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|
| Q2 2026 | 226 | 16M | 32 / 90 | 55 / 21 | 1M | 1M |
| Q1 2026 | 220 | 15M | 36 / 73 | 68 / 14 | 2M | 1M |
| Q4 2025 | 202 | 15M | 23 / 64 | 76 / 33 | 2M | 1M |
| Q3 2025 | 214 | 14M | 28 / 85 | 57 / 28 | 2M | 1M |
| Q2 2025 | 216 | 14M | 27 / 91 | 55 / 23 | 1M | 1M |
| Q1 2025 | 215 | 14M | 33 / 58 | 75 / 24 | 1M | 1M |
| Q4 2024 | 210 | 14M | 29 / 70 | 59 / 17 | 1M | 1M |
| Q3 2024 | 199 | 14M | 23 / 51 | 78 / 20 | 5M | 1M |
| Q2 2024 | 197 | 13M | 26 / 68 | 68 / 19 | 1M | 2M |
| Q1 2024 | 191 | 14M | 26 / 85 | 41 / 25 | 3M | 2M |
| Q4 2023 | 191 | 14M | 25 / 69 | 59 / 18 | 1M | 0M |
| Q3 2023 | 186 | 13M | 24 / 55 | 66 / 20 | 1M | 0M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of MSEX | Value | % of fund | As of |
|---|---|---|---|---|---|
| iShares Core S&P Small-Cap ETF | 1,122,289 | – | $63.03M | 0.06% | Jun 30, 2026 |
| Neuberger Genesis Fund | 961,793 | – | $50.52M | 0.69% | May 31, 2026 |
| Vanguard Total Stock Market Index Fund | 568,099 | – | $31.90M | 0.00% | Jun 30, 2026 |
| T. Rowe Price Small-Cap Value Fund, Inc. | 520,488 | – | $29.23M | 0.28% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 473,434 | – | $26.59M | 0.03% | Jun 30, 2026 |
| T. Rowe Price Small-Cap Stock Fund, Inc. | 383,278 | – | $21.52M | 0.23% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 215,384 | – | $12.10M | 0.01% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 204,936 | – | $11.74M | 0.03% | Jul 31, 2026 |
| T. Rowe Price Institutional Small-Cap Stock Fund | 202,375 | – | $11.37M | 0.23% | Jun 30, 2026 |
| State Street(R) SPDR(R) Portfolio S&P 600(TM) Small Cap ETF | 170,406 | – | $9.57M | 0.06% | Jun 30, 2026 |
| iShares Russell 2000 Value ETF | 167,399 | – | $9.40M | 0.06% | Jun 30, 2026 |
| Invesco S&P Global Water Index ETF | 131,679 | – | $7.55M | 0.72% | Jul 31, 2026 |
| Vanguard Utilities Index Fund | 127,659 | – | $6.71M | 0.06% | May 31, 2026 |
| Calvert Global Water Fund | 121,145 | – | $6.80M | 1.20% | Jun 30, 2026 |
| Janus Henderson Small Cap Value Fund | 120,361 | – | $6.76M | 0.53% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | Latest filing |
|---|---|---|---|
| Lorrie Beth Ginegaw | VP, Human Resources | 3,978 | Aug 7, 2026 |
| Tatyana Kaplan | Chief Accounting Officer | – | Apr 8, 2026 |
| Nadine Duchemin-Leslie | President, CEO | 19,352 | Apr 1, 2026 |
| Mohammed G. Zerhouni | SVP, CFO and Treasurer | 9,047 | Apr 1, 2026 |
| Robert John Capko | PAO & Controller | 83 | Apr 1, 2026 |
| Gregory S. Sorensen | VP, Chief Operating Officer | 4,983 | Apr 1, 2026 |
| Robert K. Fullagar | President-NJ Operations | 6,457 | Apr 1, 2026 |
| Georgia M. Simpson | VP-IT | 6,323 | Apr 1, 2026 |
| Jay L. Kooper | VP, Gen. Counsel & Secretary | 878 | Apr 1, 2026 |
| G. Christian Andreasen Jr. | Vice President-Engineering | 12,931 | Feb 3, 2025 |
| Bernadette M. Sohler | VP-Corporate Affairs | 0 | Jan 3, 2025 |
| Joshua Bershad | Director | 240,896 | Aug 12, 2026 |
| Kim C. Hanemann | Director | 3,367 | Apr 1, 2026 |
| Steven M. Klein | Director | 3,333 | Apr 1, 2026 |
| Walter G. Reinhard | Director | 865 | Apr 1, 2026 |
| Amy B. Mansue | Director | 865 | Apr 1, 2026 |
| James F. Cosgrove Jr. | Director | 865 | Apr 1, 2026 |
| Robert N. Hoglund | Director | 865 | Apr 1, 2026 |
| Ann L. Noble | Director | 865 | Apr 1, 2026 |
| Vaughn L. McKoy | Director | 865 | Apr 1, 2026 |
| Dennis W. Doll | Director | 20,077 | Apr 1, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Joshua Bershad Director | Aug 11, 2026 | Other | −6,900 | – | – | 223,798 |
| Lorrie Beth Ginegaw VP, Human Resources | Aug 7, 2026 | Sale | −615 | $57.61 | $35.43K | 3,978 |
| Vaughn L. McKoy Director | Apr 1, 2026 | Award | +865 | $52.05 | $45.02K | 865 |
| Robert N. Hoglund Director | Apr 1, 2026 | Award | +865 | $52.05 | $45.02K | 865 |
| Nadine Duchemin-Leslie President, CEO | Apr 1, 2026 | Award | +12,675 | $52.05 | $659.73K | 19,352 |
| Walter G. Reinhard Director | Apr 1, 2026 | Award | +865 | $52.05 | $45.02K | 865 |
| Kim C. Hanemann Director | Apr 1, 2026 | Award | +865 | $52.05 | $45.02K | 3,367 |
| Mohammed G. Zerhouni SVP, CFO and Treasurer | Apr 1, 2026 | Award | +5,927 | $52.05 | $308.50K | 9,047 |
| Ann L. Noble Director | Apr 1, 2026 | Award | +865 | $52.05 | $45.02K | 865 |
| Amy B. Mansue Director | Apr 1, 2026 | Award | +865 | $52.05 | $45.02K | 865 |
| Steven M. Klein Director | Apr 1, 2026 | Award | +865 | $52.05 | $45.02K | 3,333 |
| Gregory S. Sorensen VP, Chief Operating Officer | Apr 1, 2026 | Award | +4,983 | $52.05 | $259.37K | 4,983 |
| Joshua Bershad Director | Apr 1, 2026 | Award | +865 | $52.05 | $45.02K | 1,567 |
| James F. Cosgrove Jr. Director | Apr 1, 2026 | Award | +865 | $52.05 | $45.02K | 865 |
| Georgia M. Simpson VP-IT | Apr 1, 2026 | Award | +2,140 | $52.05 | $111.39K | 6,323 |
| Georgia M. Simpson VP-IT | Apr 1, 2026 | Tax withholding | +338 | $52.05 | $17.59K | 1,057 |
| Georgia M. Simpson VP-IT | Apr 1, 2026 | Other | −759 | $52.05 | $39.51K | 5,564 |
| Lorrie Beth Ginegaw VP, Human Resources | Apr 1, 2026 | Other | −823 | $52.05 | $42.84K | 5,428 |
| Lorrie Beth Ginegaw VP, Human Resources | Apr 1, 2026 | Award | +2,017 | $52.05 | $104.98K | 6,251 |
| Lorrie Beth Ginegaw VP, Human Resources | Apr 1, 2026 | Tax withholding | +364 | $52.05 | $18.95K | 4,593 |
| Jay L. Kooper VP, Gen. Counsel & Secretary | Apr 1, 2026 | Tax withholding | +350 | $52.05 | $18.22K | 878 |
| Jay L. Kooper VP, Gen. Counsel & Secretary | Apr 1, 2026 | Award | +2,597 | $52.05 | $135.17K | 7,450 |
| Jay L. Kooper VP, Gen. Counsel & Secretary | Apr 1, 2026 | Other | −759 | $52.05 | $39.51K | 6,691 |
| Robert K. Fullagar President-NJ Operations | Apr 1, 2026 | Other | −886 | $52.05 | $46.12K | 6,433 |
| Robert K. Fullagar President-NJ Operations | Apr 1, 2026 | Award | +2,128 | $52.05 | $110.76K | 7,319 |
| Robert K. Fullagar President-NJ Operations | Apr 1, 2026 | Tax withholding | +394 | $52.05 | $20.51K | 1,297 |
| Robert John Capko PAO & Controller | Apr 1, 2026 | Tax withholding | +83 | $52.05 | $4.32K | 83 |
| Robert John Capko PAO & Controller | Apr 1, 2026 | Other | −193 | $52.05 | $10.05K | 3,448 |
| Robert John Capko PAO & Controller | Apr 1, 2026 | Award | +1,679 | $52.05 | $87.39K | 3,641 |
| Walter G. Reinhard Director | Mar 4, 2026 | Sale | −300 | $55.21 | $16.56K | 6,051 |
| Nadine Duchemin-Leslie President, CEO | Mar 3, 2026 | Other | −4,630 | $54.55 | $252.57K | 6,677 |
| Nadine Duchemin-Leslie President, CEO | Mar 3, 2026 | Tax withholding | +2,336 | $54.55 | $127.43K | 7,129 |
| Nadine Duchemin-Leslie President, CEO | Mar 1, 2026 | Award | +4,630 | $54.00 | $250.02K | 11,307 |
| Robert N. Hoglund Director | Feb 27, 2026 | Buy | +2,000 | $54.31 | $108.62K | 2,000 |
| Robert John Capko PAO & Controller | Feb 25, 2026 | Sale | −134 | $54.04 | $7.24K | 0 |
| Lorrie Beth Ginegaw VP-HR | Nov 18, 2025 | Sale | −650 | $50.92 | $33.10K | 3,709 |
| Joshua Bershad Director | Jun 15, 2025 | Other | +213,365 | – | – | 230,698 |
| Walter G. Reinhard Director | May 28, 2025 | Sale | −702 | $57.37 | $40.27K | 0 |
| Robert John Capko PAO & Controller | Apr 1, 2025 | Award | +889 | $64.10 | $56.98K | 2,173 |
| Robert John Capko PAO & Controller | Apr 1, 2025 | Tax withholding | +134 | $64.10 | $8.59K | 134 |
| Robert John Capko PAO & Controller | Apr 1, 2025 | Other | −211 | $64.10 | $13.53K | 1,962 |
| Lorrie Beth Ginegaw VP, Human Resources | Apr 1, 2025 | Tax withholding | +418 | $64.10 | $26.79K | 4,359 |
| Lorrie Beth Ginegaw VP, Human Resources | Apr 1, 2025 | Award | +1,014 | $64.10 | $65.00K | 5,177 |
| Lorrie Beth Ginegaw VP, Human Resources | Apr 1, 2025 | Other | −943 | $64.10 | $60.45K | 4,234 |
| Georgia M. Simpson VP-IT | Apr 1, 2025 | Other | −702 | $64.10 | $45.00K | 4,183 |
| Georgia M. Simpson VP-IT | Apr 1, 2025 | Award | +1,123 | $64.10 | $71.98K | 4,885 |
| Georgia M. Simpson VP-IT | Apr 1, 2025 | Tax withholding | +310 | $64.10 | $19.87K | 719 |
| Jay L. Kooper VP, Gen. Counsel & Secretary | Apr 1, 2025 | Other | −832 | $64.10 | $53.33K | 4,853 |
| Jay L. Kooper VP, Gen. Counsel & Secretary | Apr 1, 2025 | Tax withholding | +369 | $64.10 | $23.65K | 528 |
| Jay L. Kooper VP, Gen. Counsel & Secretary | Apr 1, 2025 | Award | +1,607 | $64.10 | $103.01K | 5,685 |
| Robert K. Fullagar President-NJ Operations | Apr 1, 2025 | Tax withholding | +304 | $64.10 | $19.49K | 903 |
| Robert K. Fullagar President-NJ Operations | Apr 1, 2025 | Award | +1,404 | $64.10 | $90.00K | 5,878 |
| Robert K. Fullagar President-NJ Operations | Apr 1, 2025 | Other | −687 | $64.10 | $44.04K | 5,191 |
| Nadine Duchemin-Leslie President, CEO | Apr 1, 2025 | Award | +6,677 | $64.10 | $428.00K | 6,677 |
| Mohammed G. Zerhouni SVP, CFO and Treasurer | Apr 1, 2025 | Award | +3,120 | $64.10 | $199.99K | 3,120 |
| Steven M. Klein Director | Apr 1, 2025 | Award | +702 | $64.10 | $45.00K | 2,468 |
| Vaughn L. McKoy Director | Apr 1, 2025 | Award | +702 | $64.10 | $45.00K | 702 |
| Walter G. Reinhard Director | Apr 1, 2025 | Award | +702 | $64.10 | $45.00K | 702 |
| Amy B. Mansue Director | Apr 1, 2025 | Award | +702 | $64.10 | $45.00K | 702 |
| Dennis W. Doll Director | Apr 1, 2025 | Award | +702 | $64.10 | $45.00K | 20,077 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Dennis W. Doll Director | Mar 17, 2025 | 4,067 | $253.25K | Mar 17, 2025 | Stock Award |
| Lorrie Beth Ginegaw Officer | Dec 20, 2023 | 300 | $21.18K | Dec 20, 2023 | RSA |