Dalton Greiner Hartman Maher & Co. increased its position in shares of Artesian Resources Corporation (NASDAQ:ARTNA) by 29.3% during the second quarter, Holdings Channel reports. The firm owned 74,911 shares of the utilities provider’s stock after buying an additional 16,968 shares during the period. Dalton Greiner Hartman Maher & Co.’s holdings in Artesian Resources Corporation were worth $2,820,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Water Asset Management LLC raised its position in shares of Artesian Resources Corporation by 899.1% in the first quarter. Water Asset Management LLC now owns 86,871 shares of the utilities provider’s stock worth $2,829,000 after buying an additional 78,176 shares during the period. Renaissance Technologies LLC raised its position in shares of Artesian Resources Corporation by 9.0% in the fourth quarter. Renaissance Technologies LLC now owns 265,300 shares of the utilities provider’s stock worth $8,474,000 after buying an additional 21,900 shares during the last quarter. First Manhattan Co. raised its position in shares of Artesian Resources Corporation by 5.9% in the first quarter. First Manhattan Co. now owns 256,823 shares of the utilities provider’s stock worth $7,329,000 after buying an additional 14,250 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Artesian Resources Corporation during the first quarter worth about $317,000. Finally, Martingale Asset Management L P raised its position in shares of Artesian Resources Corporation by 23.1% in the first quarter. Martingale Asset Management L P now owns 46,412 shares of the utilities provider’s stock worth $1,512,000 after buying an additional 8,707 shares during the last quarter. Institutional investors and hedge funds own 39.81% of the company’s stock.
Shares of Artesian Resources Corporation (NASDAQ ARTNA) traded up 1.62% on Friday, hitting $38.96. 21,310 shares of the company’s stock were exchanged. Artesian Resources Corporation has a 12 month low of $26.28 and a 12 month high of $41.90. The stock’s 50 day moving average is $38.39 and its 200 day moving average is $34.93. The firm has a market cap of $356.29 million, a P/E ratio of 27.06 and a beta of 0.09.
Artesian Resources Corporation (NASDAQ:ARTNA) last posted its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by $0.01. Artesian Resources Corporation had a net margin of 16.55% and a return on equity of 9.59%. The business had revenue of $19.19 million during the quarter. On average, equities analysts predict that Artesian Resources Corporation will post $1.49 earnings per share for the current year.
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A number of research analysts have issued reports on ARTNA shares. Hilliard Lyons lowered shares of Artesian Resources Corporation from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a research report on Thursday, May 4th. Zacks Investment Research lowered shares of Artesian Resources Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th. Finally, BidaskClub lowered shares of Artesian Resources Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th.
In related news, Director William C. Wyer sold 2,255 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $37.60, for a total transaction of $84,788.00. Following the completion of the transaction, the director now owns 17,755 shares of the company’s stock, valued at $667,588. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Dian C. Taylor sold 4,702 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $40.08, for a total transaction of $188,456.16. Following the transaction, the insider now directly owns 97,152 shares of the company’s stock, valued at approximately $3,893,852.16. The disclosure for this sale can be found here. In the last three months, insiders sold 26,905 shares of company stock worth $1,075,757. Insiders own 20.59% of the company’s stock.
About Artesian Resources Corporation
Artesian Resources Corporation is a holding company. The Company’s subsidiaries offer water, wastewater and other services on the Delmarva Peninsula. The Company distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in the states of Delaware, Maryland and Pennsylvania.
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