BidaskClub lowered shares of Artesian Resources Corporation (NASDAQ:ARTNA) from a hold rating to a sell rating in a report released on Wednesday, July 12th.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut Artesian Resources Corporation from a buy rating to a hold rating in a report on Tuesday, May 9th. Hilliard Lyons cut Artesian Resources Corporation from a buy rating to a neutral rating and set a $41.00 price objective for the company. in a report on Thursday, May 4th.
Artesian Resources Corporation (NASDAQ:ARTNA) traded down 2.01% on Wednesday, hitting $38.09. The stock had a trading volume of 25,341 shares. Artesian Resources Corporation has a 52-week low of $26.28 and a 52-week high of $41.90. The company has a 50 day moving average price of $38.47 and a 200-day moving average price of $35.55. The company has a market cap of $349.02 million, a price-to-earnings ratio of 26.09 and a beta of 0.10.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Monday, August 14th will be issued a $0.2317 dividend. The ex-dividend date is Thursday, August 10th. This represents a $0.93 annualized dividend and a dividend yield of 2.43%. Artesian Resources Corporation’s dividend payout ratio (DPR) is presently 63.27%.
In related news, insider Dian C. Taylor sold 4,702 shares of the company’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $40.08, for a total value of $188,456.16. Following the completion of the transaction, the insider now owns 97,152 shares of the company’s stock, valued at approximately $3,893,852.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nicholle Renee Taylor sold 2,678 shares of the company’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $40.10, for a total value of $107,387.80. Following the completion of the transaction, the director now directly owns 7,003 shares of the company’s stock, valued at approximately $280,820.30. The disclosure for this sale can be found here. Insiders sold a total of 26,905 shares of company stock valued at $1,075,757 in the last ninety days. 20.59% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Artesian Resources Corporation by 0.7% in the first quarter. Vanguard Group Inc. now owns 365,893 shares of the utilities provider’s stock valued at $11,914,000 after buying an additional 2,417 shares during the period. Renaissance Technologies LLC raised its stake in Artesian Resources Corporation by 6.6% in the first quarter. Renaissance Technologies LLC now owns 282,700 shares of the utilities provider’s stock valued at $9,205,000 after buying an additional 17,400 shares during the period. First Manhattan Co. raised its stake in Artesian Resources Corporation by 5.9% in the first quarter. First Manhattan Co. now owns 256,823 shares of the utilities provider’s stock valued at $7,329,000 after buying an additional 14,250 shares during the period. Dimensional Fund Advisors LP raised its stake in Artesian Resources Corporation by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 200,290 shares of the utilities provider’s stock valued at $6,521,000 after buying an additional 8,120 shares during the period. Finally, State Street Corp raised its stake in Artesian Resources Corporation by 2.1% in the fourth quarter. State Street Corp now owns 174,038 shares of the utilities provider’s stock valued at $5,558,000 after buying an additional 3,529 shares during the period. Institutional investors own 40.32% of the company’s stock.
About Artesian Resources Corporation
Artesian Resources Corporation is a holding company. The Company’s subsidiaries offer water, wastewater and other services on the Delmarva Peninsula. The Company distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in the states of Delaware, Maryland and Pennsylvania.
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