XTX Topco Ltd Acquires New Stake in Artesian Resources Corporation (NASDAQ:ARTNA)

Key Points

• XTX Topco Ltd acquired 7,557 shares of Artesian Resources Corporation, valued at approximately $247,000, representing 0.07% ownership in the company.
• Artesian Resources announced a quarterly dividend of $0.3074 per share, equating to a 3.6% dividend yield, with the ex-dividend date set for August 15th.
• The company's stock was recently upgraded from a "hold" to a "buy" rating by Wall Street analysts, indicating positive growth expectations.

XTX Topco Ltd acquired a new stake in Artesian Resources Corporation (NASDAQ:ARTNA - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,557 shares of the utilities provider's stock, valued at approximately $247,000. XTX Topco Ltd owned about 0.07% of Artesian Resources as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ARTNA. LPL Financial LLC raised its holdings in Artesian Resources by 1.7% during the first quarter. LPL Financial LLC now owns 38,968 shares of the utilities provider's stock worth $1,272,000 after buying an additional 643 shares during the last quarter. GAMMA Investing LLC raised its holdings in Artesian Resources by 4,084.4% during the first quarter. GAMMA Investing LLC now owns 1,339 shares of the utilities provider's stock worth $41,000 after buying an additional 1,307 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Artesian Resources by 100.2% during the fourth quarter. Wells Fargo & Company MN now owns 3,514 shares of the utilities provider's stock worth $111,000 after buying an additional 1,759 shares during the last quarter. North Star Investment Management Corp. raised its holdings in Artesian Resources by 3.5% during the first quarter. North Star Investment Management Corp. now owns 59,000 shares of the utilities provider's stock worth $1,926,000 after buying an additional 2,000 shares during the last quarter. Finally, Aquatic Capital Management LLC raised its holdings in Artesian Resources by 703.3% during the fourth quarter. Aquatic Capital Management LLC now owns 2,410 shares of the utilities provider's stock worth $76,000 after buying an additional 2,110 shares during the last quarter. 57.37% of the stock is owned by institutional investors.

Artesian Resources Stock Performance

Shares of ARTNA traded down $0.40 during trading hours on Friday, hitting $32.93. The company's stock had a trading volume of 18,962 shares, compared to its average volume of 36,954. The company has a market cap of $339.46 million, a price-to-earnings ratio of 15.17 and a beta of 0.34. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.87 and a quick ratio of 0.77. The business has a 50 day simple moving average of $33.54 and a two-hundred day simple moving average of $33.09. Artesian Resources Corporation has a 52-week low of $29.45 and a 52-week high of $38.94.

Artesian Resources (NASDAQ:ARTNA - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The utilities provider reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.05. Artesian Resources had a net margin of 20.84% and a return on equity of 9.55%. The company had revenue of $28.55 million during the quarter, compared to analyst estimates of $29.00 million. On average, equities analysts expect that Artesian Resources Corporation will post 1.92 earnings per share for the current fiscal year.

Artesian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Friday, August 15th will be given a dividend of $0.3074 per share. This represents a $1.23 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, August 15th. Artesian Resources's payout ratio is presently 56.68%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Artesian Resources from a "hold" rating to a "buy" rating in a report on Monday, May 5th.

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.