Jacobi Capital Management LLC Sells 2,236 Shares of Artesian Resources Co. (NASDAQ:ARTNA)

Jacobi Capital Management LLC cut its holdings in Artesian Resources Co. (NASDAQ:ARTNA) by 21.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,035 shares of the utilities provider’s stock after selling 2,236 shares during the period. Jacobi Capital Management LLC’s holdings in Artesian Resources were worth $254,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Foundry Partners LLC boosted its stake in shares of Artesian Resources by 12.2% during the 3rd quarter. Foundry Partners LLC now owns 143,470 shares of the utilities provider’s stock worth $5,334,000 after purchasing an additional 15,580 shares during the period. Geode Capital Management LLC boosted its stake in shares of Artesian Resources by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 110,317 shares of the utilities provider’s stock worth $4,104,000 after purchasing an additional 2,225 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Artesian Resources by 169.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,035 shares of the utilities provider’s stock worth $596,000 after purchasing an additional 10,089 shares during the period. State Street Corp boosted its stake in shares of Artesian Resources by 0.6% during the 3rd quarter. State Street Corp now owns 66,146 shares of the utilities provider’s stock worth $2,459,000 after purchasing an additional 384 shares during the period. Finally, Walleye Capital LLC purchased a new position in shares of Artesian Resources during the 3rd quarter worth about $289,000. 57.37% of the stock is currently owned by institutional investors.

Artesian Resources Price Performance

ARTNA stock opened at $32.04 on Tuesday. Artesian Resources Co. has a 12 month low of $29.45 and a 12 month high of $41.29. The company has a current ratio of 1.22, a quick ratio of 1.07 and a debt-to-equity ratio of 0.74. The company has a 50-day moving average price of $31.11 and a 200 day moving average price of $33.83. The stock has a market cap of $329.95 million, a PE ratio of 16.43 and a beta of 0.23.

Artesian Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a dividend of $0.3014 per share. The ex-dividend date was Friday, February 7th. This is a boost from Artesian Resources’s previous quarterly dividend of $0.30. This represents a $1.21 dividend on an annualized basis and a dividend yield of 3.76%. Artesian Resources’s payout ratio is currently 61.54%.

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.