Capstone Investment Advisors LLC acquired a new stake in Artesian Resources Co. (NASDAQ:ARTNA - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 17,208 shares of the utilities provider's stock, valued at approximately $544,000. Capstone Investment Advisors LLC owned approximately 0.17% of Artesian Resources at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new stake in Artesian Resources during the fourth quarter worth about $63,000. Aquatic Capital Management LLC lifted its stake in Artesian Resources by 703.3% in the fourth quarter. Aquatic Capital Management LLC now owns 2,410 shares of the utilities provider's stock valued at $76,000 after buying an additional 2,110 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Artesian Resources by 100.2% during the fourth quarter. Wells Fargo & Company MN now owns 3,514 shares of the utilities provider's stock valued at $111,000 after acquiring an additional 1,759 shares during the period. Raymond James Financial Inc. bought a new position in shares of Artesian Resources during the fourth quarter worth about $272,000. Finally, American Century Companies Inc. increased its holdings in shares of Artesian Resources by 30.3% in the 4th quarter. American Century Companies Inc. now owns 17,195 shares of the utilities provider's stock worth $544,000 after acquiring an additional 3,995 shares during the period. Hedge funds and other institutional investors own 57.37% of the company's stock.
Analysts Set New Price Targets
Separately, StockNews.com upgraded shares of Artesian Resources from a "hold" rating to a "buy" rating in a research report on Monday, May 5th.
Read Our Latest Stock Analysis on Artesian Resources
Artesian Resources Stock Performance
Artesian Resources stock traded up $0.03 during mid-day trading on Friday, hitting $34.50. 31,686 shares of the company's stock traded hands, compared to its average volume of 50,461. Artesian Resources Co. has a one year low of $29.45 and a one year high of $41.29. The company has a market cap of $355.45 million, a PE ratio of 17.69 and a beta of 0.36. The firm has a 50 day moving average price of $33.19 and a 200 day moving average price of $32.70. The company has a quick ratio of 1.07, a current ratio of 1.22 and a debt-to-equity ratio of 0.74.
Artesian Resources (NASDAQ:ARTNA - Get Free Report) last released its earnings results on Monday, May 5th. The utilities provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.35 by $0.18. The firm had revenue of $25.89 million for the quarter, compared to analysts' expectations of $25.00 million. Artesian Resources had a net margin of 18.96% and a return on equity of 8.57%. On average, equities analysts forecast that Artesian Resources Co. will post 1.92 EPS for the current year.
Artesian Resources Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.3074 per share. This is a positive change from Artesian Resources's previous quarterly dividend of $0.30. This represents a $1.23 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Friday, May 16th. Artesian Resources's dividend payout ratio (DPR) is presently 57.69%.
About Artesian Resources
(
Free Report)
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.
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