Artesian Resources Corp. (ARTNA) Upgraded by Zacks Investment Research to “Hold”
According to Zacks, “Artesian Resources Corporation operates as the parent holding company of Artesian Water Company, Inc a regulated public water utility. Artesian Water provides water utility service to customers with in its established service territory in portions of New Castle County, Delaware. “
Artesian Resources Corp. (NASDAQ:ARTNA) opened at 28.62 on Tuesday. Artesian Resources Corp. has a 52 week low of $23.06 and a 52 week high of $35.00. The company has a 50-day moving average of $29.36 and a 200-day moving average of $29.39. The firm has a market capitalization of $260.64 million, a price-to-earnings ratio of 22.71 and a beta of 0.18.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 22nd. Stockholders of record on Wednesday, August 10th were paid a dividend of $0.225 per share. The ex-dividend date was Monday, August 8th. This represents a $0.90 annualized dividend and a dividend yield of 3.16%. This is an increase from Artesian Resources Corp.’s previous quarterly dividend of $0.22. Artesian Resources Corp.’s dividend payout ratio (DPR) is presently 71.43%.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Artesian Resources Corp. by 14.8% in the second quarter. Vanguard Group Inc. now owns 346,888 shares of the company’s stock valued at $11,767,000 after buying an additional 44,722 shares during the last quarter. First Manhattan Co. increased its position in shares of Artesian Resources Corp. by 1.2% in the first quarter. First Manhattan Co. now owns 262,544 shares of the company’s stock worth $7,340,000 after buying an additional 3,062 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Artesian Resources Corp. by 23.6% in the first quarter. Renaissance Technologies LLC now owns 225,443 shares of the company’s stock worth $6,303,000 after buying an additional 43,043 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Artesian Resources Corp. by 1.4% in the second quarter. BlackRock Fund Advisors now owns 205,947 shares of the company’s stock worth $6,986,000 after buying an additional 2,818 shares in the last quarter. Finally, WFG Advisors LP increased its position in shares of Artesian Resources Corp. by 5.9% in the second quarter. WFG Advisors LP now owns 172,206 shares of the company’s stock worth $5,841,000 after buying an additional 9,636 shares in the last quarter. 38.48% of the stock is owned by hedge funds and other institutional investors.
Artesian Resources Corp. Company Profile
Artesian Resources Corporation is a holding company. The Company, through its subsidiaries, offers water, wastewater and other services on the Delmarva Peninsula. It distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in Delaware, Maryland and Pennsylvania.
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