Artesian Resources Corporation (ARTNA) Holdings Boosted by Northern Trust Corp

Northern Trust Corp grew its stake in Artesian Resources Corporation (NASDAQ:ARTNA) by 8.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 114,661 shares of the utilities provider’s stock after purchasing an additional 8,857 shares during the quarter. Northern Trust Corp owned approximately 1.25% of Artesian Resources Corporation worth $4,316,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of ARTNA. Bank of America Corp DE raised its stake in shares of Artesian Resources Corporation by 79.3% in the 1st quarter. Bank of America Corp DE now owns 3,823 shares of the utilities provider’s stock valued at $124,000 after purchasing an additional 1,691 shares in the last quarter. Citigroup Inc. raised its stake in shares of Artesian Resources Corporation by 543.1% in the 2nd quarter. Citigroup Inc. now owns 3,640 shares of the utilities provider’s stock valued at $137,000 after purchasing an additional 3,074 shares in the last quarter. American International Group Inc. raised its stake in shares of Artesian Resources Corporation by 7.4% in the 1st quarter. American International Group Inc. now owns 4,785 shares of the utilities provider’s stock valued at $156,000 after purchasing an additional 329 shares in the last quarter. AT Bancorp acquired a new stake in shares of Artesian Resources Corporation in the 2nd quarter valued at about $188,000. Finally, Alliancebernstein L.P. acquired a new stake in shares of Artesian Resources Corporation in the 2nd quarter valued at about $215,000. Institutional investors and hedge funds own 40.01% of the company’s stock.

A number of brokerages have recently issued reports on ARTNA. Zacks Investment Research upgraded shares of Artesian Resources Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. BidaskClub upgraded shares of Artesian Resources Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th.

In related news, Director Kenneth R. Biederman sold 2,000 shares of the business’s stock in a transaction dated 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 sale, the director now owns 21,875 shares of the company’s stock, valued at approximately $854,218.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. 20.59% of the stock is owned by corporate insiders.

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Shares of Artesian Resources Corporation (NASDAQ ARTNA) opened at $39.34 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.64 and a current ratio of 0.71. Artesian Resources Corporation has a 1 year low of $29.36 and a 1 year high of $43.22. The firm has a market cap of $361.61, a PE ratio of 27.90 and a beta of 0.09.

Artesian Resources Corporation (NASDAQ:ARTNA) last announced its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). Artesian Resources Corporation had a net margin of 15.96% and a return on equity of 9.18%. The business had revenue of $22.36 million for the quarter. research analysts expect that Artesian Resources Corporation will post 1.42 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, November 13th will be given a dividend of $0.2352 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Friday, November 10th. This is an increase from Artesian Resources Corporation’s previous quarterly dividend of $0.23. Artesian Resources Corporation’s dividend payout ratio is currently 66.67%.

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.

Institutional Ownership by Quarter for Artesian Resources Corporation (NASDAQ:ARTNA)

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