Artesian Resources Corporation (ARTNA) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Artesian Resources Corporation (NASDAQ:ARTNA) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

According to Zacks, “Artesian Resources Corporation operates as the parent holding company of Artesian Water Company, Inc a regulated public water utility. Artesian Water provides water utility service to customers with in its established service territory in portions of New Castle County, Delaware. “

Separately, BidaskClub downgraded shares of Artesian Resources Corporation from a hold rating to a sell rating in a research note on Wednesday, July 12th.

Artesian Resources Corporation (ARTNA) opened at 37.51 on Tuesday. The firm’s 50-day moving average price is $37.40 and its 200-day moving average price is $36.81. The company has a market cap of $344.64 million, a PE ratio of 25.69 and a beta of 0.10. Artesian Resources Corporation has a 12-month low of $26.72 and a 12-month high of $41.90.

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The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 14th were paid a $0.2317 dividend. This represents a $0.93 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Thursday, August 10th. Artesian Resources Corporation’s dividend payout ratio (DPR) is currently 63.27%.

In other Artesian Resources Corporation news, insider Dian C. Taylor sold 4,702 shares of Artesian Resources Corporation stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $40.08, for a total value of $188,456.16. Following the completion of the sale, the insider now directly owns 97,152 shares of the company’s stock, valued at $3,893,852.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Nicholle Renee Taylor sold 2,678 shares of Artesian Resources Corporation stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $40.10, for a total transaction of $107,387.80. Following the completion of the sale, the director now directly owns 7,003 shares of the company’s stock, valued at $280,820.30. The disclosure for this sale can be found here. Insiders own 20.59% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Artesian Resources Corporation by 1.0% during the second quarter. Vanguard Group Inc. now owns 369,434 shares of the utilities provider’s stock worth $13,906,000 after acquiring an additional 3,541 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Artesian Resources Corporation by 6.6% during the first quarter. Renaissance Technologies LLC now owns 282,700 shares of the utilities provider’s stock worth $9,205,000 after acquiring an additional 17,400 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Artesian Resources Corporation by 8.5% during the second quarter. Dimensional Fund Advisors LP now owns 217,338 shares of the utilities provider’s stock worth $8,181,000 after acquiring an additional 17,048 shares in the last quarter. State Street Corp increased its position in shares of Artesian Resources Corporation by 5.0% during the second quarter. State Street Corp now owns 181,189 shares of the utilities provider’s stock worth $6,819,000 after acquiring an additional 8,679 shares in the last quarter. Finally, WFG Advisors LP increased its position in shares of Artesian Resources Corporation by 9.4% during the second quarter. WFG Advisors LP now owns 144,011 shares of the utilities provider’s stock worth $5,421,000 after acquiring an additional 12,399 shares in the last quarter. 39.87% of the stock is owned by institutional investors.

Artesian Resources Corporation Company Profile

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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