Artesian Resources Co. (NASDAQ:ARTNA) has been given a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.
Zacks has also given Artesian Resources an industry rank of 194 out of 265 based on the ratings given to related companies.
Several research firms recently issued reports on ARTNA. Zacks Investment Research cut shares of Artesian Resources from a “hold” rating to a “sell” rating in a research report on Thursday, November 16th. BidaskClub cut shares of Artesian Resources from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th.
Shares of Artesian Resources (ARTNA) opened at $34.88 on Friday. Artesian Resources has a 12 month low of $29.83 and a 12 month high of $43.22. The stock has a market cap of $320.52, a PE ratio of 24.74 and a beta of 0.05. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 0.73.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be given a $0.2352 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.94 annualized dividend and a dividend yield of 2.70%. Artesian Resources’s dividend payout ratio is presently 66.67%.
In related news, insider Dian C. Taylor sold 8,798 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $42.36, for a total value of $372,683.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kenneth R. Biederman sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $39.05, for a total transaction of $78,100.00. Following the completion of the transaction, the director now owns 21,875 shares in the company, valued at approximately $854,218.75. The disclosure for this sale can be found here. Insiders sold 17,548 shares of company stock worth $734,283 over the last three months. Corporate insiders own 20.59% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Artesian Resources by 1.0% during the second quarter. Vanguard Group Inc. now owns 369,434 shares of the utilities provider’s stock valued at $13,906,000 after purchasing an additional 3,541 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Artesian Resources by 9.5% during the third quarter. Dimensional Fund Advisors LP now owns 237,999 shares of the utilities provider’s stock valued at $8,997,000 after purchasing an additional 20,661 shares during the period. State Street Corp raised its stake in shares of Artesian Resources by 5.0% during the second quarter. State Street Corp now owns 181,189 shares of the utilities provider’s stock valued at $6,819,000 after purchasing an additional 8,679 shares during the period. WFG Advisors LP raised its stake in shares of Artesian Resources by 9.4% during the second quarter. WFG Advisors LP now owns 144,011 shares of the utilities provider’s stock valued at $5,421,000 after purchasing an additional 12,399 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Artesian Resources by 8.4% during the second quarter. Northern Trust Corp now owns 114,661 shares of the utilities provider’s stock valued at $4,316,000 after purchasing an additional 8,857 shares during the period. Hedge funds and other institutional investors own 38.17% of the company’s stock.
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About Artesian Resources
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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