Morgan Stanley lowered its position in shares of Artesian Resources Corporation (NASDAQ:ARTNA) by 4.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 113,591 shares of the utilities provider’s stock after selling 5,857 shares during the period. Morgan Stanley’s holdings in Artesian Resources Corporation were worth $3,699,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Artesian Resources Corporation by 0.7% in the first quarter. Vanguard Group Inc. now owns 365,893 shares of the utilities provider’s stock valued at $11,914,000 after buying an additional 2,417 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 valued at $7,329,000 after buying an additional 14,250 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Artesian Resources Corporation 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 last quarter. State Street Corp raised its position in shares of 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 during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Artesian Resources Corporation by 2.6% in the first quarter. Geode Capital Management LLC now owns 110,162 shares of the utilities provider’s stock valued at $3,586,000 after buying an additional 2,784 shares during the last quarter. 39.87% of the stock is owned by institutional investors and hedge funds.

Artesian Resources Corporation (NASDAQ:ARTNA) traded down 1.11% during mid-day trading on Thursday, reaching $36.40. The company’s stock had a trading volume of 2,507 shares. The stock has a market capitalization of $334.44 million, a P/E ratio of 24.93 and a beta of 0.10. The stock’s 50 day moving average price is $37.98 and its 200 day moving average price is $35.89. Artesian Resources Corporation has a 1-year low of $26.28 and a 1-year high of $41.90.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Monday, August 14th will be given a dividend of $0.2317 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $0.93 annualized dividend and a dividend yield of 2.52%. Artesian Resources Corporation’s payout ratio is 63.27%.

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A number of research analysts recently issued reports on the company. BidaskClub lowered Artesian Resources Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Zacks Investment Research lowered Artesian Resources Corporation from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Hilliard Lyons lowered Artesian Resources Corporation 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.

In other news, Director John R. Eisenbrey, Jr. sold 13,500 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $40.59, for a total value of $547,965.00. Following the completion of the transaction, the director now directly owns 54,501 shares in the company, valued at $2,212,195.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nicholle Renee Taylor sold 2,770 shares of the stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $40.13, for a total transaction of $111,160.10. Following the completion of the transaction, the director now owns 6,979 shares of the company’s stock, valued at $280,067.27. The disclosure for this sale can be found here. Insiders have sold 23,650 shares of company stock worth $954,969 in the last ninety days. Corporate 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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Institutional Ownership by Quarter for Artesian Resources Corporation (NASDAQ:ARTNA)

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