Parametric Portfolio Associates LLC decreased its position in Artesian Resources Corporation (NASDAQ:ARTNA) by 20.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,929 shares of the utilities provider’s stock after selling 6,463 shares during the period. Parametric Portfolio Associates LLC’s holdings in Artesian Resources Corporation were worth $812,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in ARTNA. Teton Advisors Inc. raised its position in Artesian Resources Corporation by 1.2% in the first quarter. Teton Advisors Inc. now owns 24,526 shares of the utilities provider’s stock valued at $799,000 after buying an additional 300 shares in the last quarter. Wells Fargo & Company MN raised its position in Artesian Resources Corporation by 5.1% in the first quarter. Wells Fargo & Company MN now owns 29,935 shares of the utilities provider’s stock valued at $975,000 after buying an additional 1,463 shares in the last quarter. State Street Corp raised its position in Artesian Resources Corporation by 2.1% in the fourth quarter. State Street Corp now owns 174,038 shares of the utilities provider’s stock valued at $5,558,000 after buying an additional 3,529 shares in the last quarter. Dalton Greiner Hartman Maher & Co. raised its position in Artesian Resources Corporation by 8.2% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 57,943 shares of the utilities provider’s stock valued at $1,887,000 after buying an additional 4,404 shares in the last quarter. Finally, Bank of Montreal Can raised its position in Artesian Resources Corporation by 229.2% in the first quarter. Bank of Montreal Can now owns 6,686 shares of the utilities provider’s stock valued at $218,000 after buying an additional 4,655 shares in the last quarter. 39.98% of the stock is currently owned by institutional investors and hedge funds.
Shares of Artesian Resources Corporation (NASDAQ:ARTNA) opened at 39.46 on Friday. Artesian Resources Corporation has a one year low of $26.28 and a one year high of $41.90. The company has a market capitalization of $361.57 million, a price-to-earnings ratio of 27.03 and a beta of 0.10. The company’s 50 day moving average is $38.55 and its 200 day moving average is $35.46.
Artesian Resources Corporation (NASDAQ:ARTNA) last posted its quarterly earnings data on Wednesday, May 3rd. The utilities provider reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The company had revenue of $19.19 million during the quarter. Artesian Resources Corporation had a return on equity of 9.69% and a net margin of 16.58%. Equities research analysts predict that Artesian Resources Corporation will post $1.46 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Monday, August 14th will be given a $0.2317 dividend. This represents a $0.93 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Thursday, August 10th. Artesian Resources Corporation’s dividend payout ratio (DPR) is 63.27%.
Several equities analysts have commented on the stock. BidaskClub lowered shares of Artesian Resources Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Zacks Investment Research lowered shares of Artesian Resources Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. Finally, 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 report on Thursday, May 4th.
In other Artesian Resources Corporation news, Director Kenneth R. Biederman sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $36.00, for a total transaction of $36,000.00. Following the transaction, the director now directly owns 19,875 shares in the company, valued at $715,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dian C. Taylor sold 4,702 shares of the 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 owns 97,152 shares in the company, valued at $3,893,852.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,905 shares of company stock worth $1,075,757. 20.59% of the stock is owned by company insiders.
Artesian Resources Corporation Company Profile
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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