Trexquant Investment LP Has $1.31 Million Stock Position in Artesian Resources Corporation $ARTNA

Key Points

• Trexquant Investment LP reduced its holdings in Artesian Resources Corporation by 19.9%, now owning 40,195 shares worth approximately $1.31 million as of the end of the first quarter.
• Artesian Resources recently declared a quarterly dividend of $0.3074 per share, reflecting an annualized dividend of $1.23 with a yield of 3.7%.
• The company reported earnings of $0.61 per share for the last quarter, surpassing analysts' expectations of $0.56, despite slightly falling short on revenue forecasts.

Trexquant Investment LP reduced its position in Artesian Resources Corporation (NASDAQ:ARTNA - Free Report) by 19.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,195 shares of the utilities provider's stock after selling 9,969 shares during the period. Trexquant Investment LP owned about 0.39% of Artesian Resources worth $1,312,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Artesian Resources by 4,084.4% in the first quarter. GAMMA Investing LLC now owns 1,339 shares of the utilities provider's stock worth $41,000 after acquiring an additional 1,307 shares in 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 worth $111,000 after purchasing an additional 1,759 shares during the period. Moors & Cabot Inc. purchased a new position in Artesian Resources during the first quarter valued at approximately $209,000. XTX Topco Ltd purchased a new position in Artesian Resources during the first quarter valued at approximately $247,000. Finally, Raymond James Financial Inc. purchased a new position in Artesian Resources during the fourth quarter valued at approximately $272,000. 57.37% of the stock is owned by hedge funds and other institutional investors.

Artesian Resources Stock Up 0.0%

ARTNA traded up $0.01 on Thursday, reaching $33.22. 17,333 shares of the company traded hands, compared to its average volume of 23,550. The stock's 50 day moving average price is $33.28 and its 200-day moving average price is $33.33. Artesian Resources Corporation has a 52-week low of $29.45 and a 52-week high of $38.94. The company has a market cap of $342.50 million, a price-to-earnings ratio of 15.31 and a beta of 0.35. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.87 and a quick ratio of 0.69.

Artesian Resources (NASDAQ:ARTNA - Get Free Report) last announced 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 firm had revenue of $28.55 million for the quarter, compared to the consensus estimate of $29.00 million. On average, sell-side analysts expect that Artesian Resources Corporation will post 1.92 EPS for the current fiscal year.

Artesian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Friday, August 15th were paid a $0.3074 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.23 dividend on an annualized basis and a yield of 3.7%. Artesian Resources's payout ratio is 56.68%.

Insider Transactions at Artesian Resources

In other Artesian Resources news, SVP John M. Thaeder sold 1,000 shares of Artesian Resources stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $33.37, for a total value of $33,370.00. Following the completion of the sale, the senior vice president directly owned 20,592 shares in the company, valued at $687,155.04. The trade was a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 20.59% of the stock is owned by company insiders.

Artesian Resources 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.