Cubist Systematic Strategies LLC Decreases Stake in Artesian Resources Co. (NASDAQ:ARTNA)

Cubist Systematic Strategies LLC trimmed its holdings in shares of Artesian Resources Co. (NASDAQ:ARTNA - Free Report) by 55.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 16,068 shares of the utilities provider's stock after selling 20,124 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.16% of Artesian Resources worth $508,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Trexquant Investment LP lifted its holdings in shares of Artesian Resources by 83.5% during the 4th quarter. Trexquant Investment LP now owns 50,164 shares of the utilities provider's stock valued at $1,586,000 after purchasing an additional 22,821 shares in the last quarter. Citadel Advisors LLC lifted its stake in Artesian Resources by 56.1% during the fourth quarter. Citadel Advisors LLC now owns 53,305 shares of the utilities provider's stock worth $1,686,000 after purchasing an additional 19,152 shares during the last quarter. Renaissance Technologies LLC grew its position in Artesian Resources by 7.4% in the fourth quarter. Renaissance Technologies LLC now owns 276,937 shares of the utilities provider's stock valued at $8,757,000 after acquiring an additional 19,126 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in shares of Artesian Resources in the 4th quarter valued at $544,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Artesian Resources by 16.9% during the fourth quarter. Bank of New York Mellon Corp now owns 85,766 shares of the utilities provider's stock valued at $2,712,000 after acquiring an additional 12,396 shares during the last quarter. 57.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Artesian Resources from a "hold" rating to a "buy" rating in a research report on Monday, May 5th.

Artesian Resources Stock Performance

Shares of Artesian Resources stock traded down $0.44 on Wednesday, reaching $34.05. 495 shares of the company traded hands, compared to its average volume of 50,751. Artesian Resources Co. has a 52 week low of $29.45 and a 52 week high of $41.29. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.22 and a quick ratio of 1.07. The company has a 50 day moving average of $33.34 and a 200 day moving average of $32.69. The firm has a market capitalization of $350.99 million, a PE ratio of 17.46 and a beta of 0.36.

Artesian Resources (NASDAQ:ARTNA - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.18. Artesian Resources had a return on equity of 8.57% and a net margin of 18.96%. The business had revenue of $25.89 million for the quarter, compared to analysts' expectations of $25.00 million. Equities analysts forecast that Artesian Resources Co. will post 1.92 earnings per share for the current year.

Artesian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Friday, May 16th will be given a $0.3074 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date is Friday, May 16th. This is an increase from Artesian Resources's previous quarterly dividend of $0.30. Artesian Resources's dividend payout ratio (DPR) is 59.13%.

Artesian Resources Company Profile

Artesian Resources Corporation, through its subsidiaries, provides water, wastewater, and other services in Delaware, Maryland, and Pennsylvania. The company distributes and sells water to residential, commercial, industrial, governmental, municipal, and utility customers, as well as for public and private fire protection in the states of Delaware, Maryland, and Pennsylvania; and offers wastewater collection, treatment infrastructure, and wastewater services to customers in Delaware.