Artesian Resources Co. (NASDAQ:ARTNA) Director William C. Wyer sold 2,255 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was 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 legal filing with the Securities & Exchange Commission, which is accessible through this link.
Artesian Resources Co. (NASDAQ:ARTNA) traded down 1.34% during trading on Friday, hitting $36.07. 24,453 shares of the stock traded hands. The company’s 50 day moving average price is $36.57 and its 200 day moving average price is $32.83. The company has a market cap of $329.86 million, a P/E ratio of 25.05 and a beta of 0.17. Artesian Resources Co. has a 12 month low of $26.28 and a 12 month high of $40.40.
Artesian Resources (NASDAQ:ARTNA) last released its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by $0.01. The firm had revenue of $19.19 million for the quarter. Artesian Resources had a return on equity of 8.99% and a net margin of 15.39%. On average, equities research analysts anticipate that Artesian Resources Co. will post $1.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Monday, May 15th will be given a dividend of $0.2317 per share. This is a positive change from Artesian Resources’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, May 11th. This represents a $0.93 annualized dividend and a yield of 2.54%. Artesian Resources’s payout ratio is 68.42%.
A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Artesian Resources from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. Hilliard Lyons downgraded shares of Artesian Resources from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a report on Thursday, May 4th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. purchased a new position in Artesian Resources during the first quarter valued at approximately $317,000. Water Asset Management LLC raised its position in Artesian Resources 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 during the period. Bank of America Corp DE raised its position in Artesian Resources by 79.3% in the first quarter. Bank of America Corp DE now owns 3,823 shares of the utilities provider’s stock valued at $124,000 after buying an additional 1,691 shares during the period. Renaissance Technologies LLC raised its position in Artesian Resources 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 during the period. Finally, Dimensional Fund Advisors LP raised its position in Artesian Resources by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 200,290 shares of the utilities provider’s stock valued at $6,521,000 after buying an additional 8,120 shares during the period. 37.21% of the stock is currently owned by institutional investors.
Artesian Resources 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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