Vanguard Group Inc. increased its holdings in shares of Artesian Resources Corporation (NASDAQ:ARTNA) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 369,434 shares of the utilities provider’s stock after buying an additional 3,541 shares during the quarter. Vanguard Group Inc. owned 4.03% of Artesian Resources Corporation worth $13,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in ARTNA. Bank of America Corp DE grew its stake in Artesian Resources Corporation by 79.3% during the 1st quarter. Bank of America Corp DE now owns 3,823 shares of the utilities provider’s stock worth $124,000 after buying an additional 1,691 shares during the last quarter. Citigroup Inc. grew its stake in Artesian Resources Corporation by 543.1% during the 2nd quarter. Citigroup Inc. now owns 3,640 shares of the utilities provider’s stock worth $137,000 after buying an additional 3,074 shares during the last quarter. American International Group Inc. grew its stake in Artesian Resources Corporation by 7.4% during the 1st quarter. American International Group Inc. now owns 4,785 shares of the utilities provider’s stock worth $156,000 after buying an additional 329 shares during the last quarter. AT Bancorp purchased a new position in Artesian Resources Corporation during the 2nd quarter worth $188,000. Finally, Alliancebernstein L.P. purchased a new position in Artesian Resources Corporation during the 2nd quarter worth $215,000. Hedge funds and other institutional investors own 40.01% of the company’s stock.
In other Artesian Resources Corporation news, Director Kenneth R. Biederman sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $39.05, for a total transaction of $78,100.00. Following the sale, the director now owns 21,875 shares in the company, valued at approximately $854,218.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 20.59% of the stock is currently owned by insiders.
Artesian Resources Corporation (NASDAQ:ARTNA) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). The firm had revenue of $22.36 million for the quarter. Artesian Resources Corporation had a net margin of 15.96% and a return on equity of 9.18%. analysts predict that Artesian Resources Corporation will post 1.42 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, November 13th will be paid a dividend of $0.2352 per share. This represents a $0.94 annualized dividend and a 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 payout ratio is presently 66.67%.
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Several brokerages recently weighed in on ARTNA. BidaskClub upgraded Artesian Resources Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research downgraded Artesian Resources Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 15th.
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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