Artesian Resources (NASDAQ:ARTNA) SVP Sells 1,000 Shares

Key Points

• Artesian Resources SVP John Thaeder sold 1,000 shares of the company at an average price of $33.49, resulting in a total transaction of $33,490 and a 4.43% decrease in their ownership position.
• The company recently declared a quarterly dividend of $0.3074 per share, yielding approximately 3.7% based on an annualized dividend rate of $1.23.
• Artesian Resources beat earnings expectations with $0.61 EPS for the last quarter, surpassing the consensus estimate of $0.56, despite reporting revenue that was slightly below expectations.

Artesian Resources Corporation (NASDAQ:ARTNA - Get Free Report) SVP John M. Thaeder sold 1,000 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $33.49, for a total value of $33,490.00. Following the transaction, the senior vice president owned 21,592 shares of the company's stock, valued at approximately $723,116.08. The trade was a 4.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Artesian Resources Trading Down 0.9%

ARTNA stock traded down $0.31 during trading on Friday, hitting $33.15. The company had a trading volume of 24,382 shares, compared to its average volume of 28,414. Artesian Resources Corporation has a 52-week low of $29.45 and a 52-week high of $38.94. The company has a 50 day simple moving average of $33.43 and a 200-day simple moving average of $33.25. The firm has a market capitalization of $341.78 million, a P/E ratio of 15.28 and a beta of 0.34. The company has a quick ratio of 0.69, a current ratio of 0.87 and a debt-to-equity ratio of 0.72.

Artesian Resources (NASDAQ:ARTNA - Get Free Report) last issued its earnings results on Monday, August 4th. The utilities provider reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.05. The business had revenue of $28.55 million for the quarter, compared to analyst estimates of $29.00 million. Artesian Resources had a net margin of 20.84% and a return on equity of 9.55%. As a group, research analysts forecast that Artesian Resources Corporation will post 1.92 earnings per share for the current fiscal year.

Artesian Resources Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ARTNA. LPL Financial LLC boosted its holdings in shares of Artesian Resources by 1.7% in 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 period. Raymond James Financial Inc. raised its position in Artesian Resources by 13.0% during the second quarter. Raymond James Financial Inc. now owns 9,634 shares of the utilities provider's stock valued at $323,000 after buying an additional 1,110 shares during the period. First Trust Advisors LP lifted its stake in Artesian Resources by 4.2% in the 2nd quarter. First Trust Advisors LP now owns 30,432 shares of the utilities provider's stock worth $1,021,000 after acquiring an additional 1,222 shares in the last quarter. GAMMA Investing LLC lifted its stake in Artesian Resources by 4,084.4% in the 1st 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. Finally, American Century Companies Inc. boosted its position in Artesian Resources by 9.7% during the 1st quarter. American Century Companies Inc. now owns 18,870 shares of the utilities provider's stock worth $616,000 after acquiring an additional 1,675 shares during the period. Institutional investors own 57.37% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Artesian Resources from a "hold" rating to a "buy" rating in a research 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.