Artesian Resources Corporation (NASDAQ:ARTNA) has received a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.
Zacks has also assigned Artesian Resources Corporation an industry rank of 190 out of 265 based on the ratings given to its competitors.
ARTNA has been the subject of several recent research reports. Zacks Investment Research cut Artesian Resources Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th. BidaskClub cut Artesian Resources Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Hilliard Lyons cut Artesian Resources Corporation from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a research report on Thursday, May 4th.
In related news, insider Dian C. Taylor sold 4,702 shares of the company’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $40.08, for a total transaction of $188,456.16. Following the sale, the insider now owns 97,152 shares in the company, valued at $3,893,852.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John R. Eisenbrey, Jr. sold 13,500 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $40.59, for a total value of $547,965.00. Following the sale, the director now owns 54,501 shares in the company, valued at approximately $2,212,195.59. The disclosure for this sale can be found here. Insiders have sold 23,650 shares of company stock worth $954,969 in the last quarter. 20.59% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in ARTNA. Water Asset Management LLC raised its stake in 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 valued at $2,829,000 after buying an additional 78,176 shares in the last quarter. Renaissance Technologies LLC raised its stake in Artesian Resources Corporation by 6.6% in the first quarter. Renaissance Technologies LLC now owns 282,700 shares of the utilities provider’s stock valued at $9,205,000 after buying an additional 17,400 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Artesian Resources Corporation by 8.5% in the second quarter. Dimensional Fund Advisors LP now owns 217,338 shares of the utilities provider’s stock valued at $8,181,000 after buying an additional 17,048 shares in the last quarter. Dalton Greiner Hartman Maher & Co. raised its stake in Artesian Resources Corporation by 29.3% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 74,911 shares of the utilities provider’s stock valued at $2,820,000 after buying an additional 16,968 shares in the last quarter. Finally, First Manhattan Co. raised its stake in Artesian Resources Corporation by 5.9% in the first quarter. First Manhattan Co. now owns 256,823 shares of the utilities provider’s stock valued at $7,329,000 after buying an additional 14,250 shares in the last quarter. Institutional investors and hedge funds own 39.87% of the company’s stock.
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Artesian Resources Corporation (ARTNA) traded down 1.14% during midday trading on Tuesday, hitting $36.27. The stock had a trading volume of 18,293 shares. The stock has a 50-day moving average of $37.91 and a 200-day moving average of $35.93. Artesian Resources Corporation has a 52 week low of $26.28 and a 52 week high of $41.90. The firm has a market cap of $333.25 million, a P/E ratio of 24.84 and a beta of 0.10.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Monday, August 14th will be issued a dividend of $0.2317 per share. The ex-dividend date is Thursday, August 10th. This represents a $0.93 annualized dividend and a yield of 2.56%. Artesian Resources Corporation’s payout ratio is presently 63.27%.
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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