Zacks: Artesian Resources Corporation (ARTNA) Receives Consensus Rating of “Hold” from Analysts
Shares of Artesian Resources Corporation (NASDAQ:ARTNA) have earned an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.
Zacks has also given Artesian Resources Corporation an industry rank of 211 out of 265 based on the ratings given to its competitors.
ARTNA has been the topic of several research reports. BidaskClub raised Artesian Resources Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research lowered Artesian Resources Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd.
Shares of Artesian Resources Corporation (NASDAQ ARTNA) traded down 0.59% during midday trading on Thursday, reaching $37.08. 54,404 shares of the company’s stock traded hands. The stock’s 50 day moving average is $37.50 and its 200-day moving average is $36.71. Artesian Resources Corporation has a 52 week low of $26.72 and a 52 week high of $41.90. The company has a market capitalization of $308.02 million, a PE ratio of 25.40 and a beta of 0.10.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Monday, August 14th were issued a $0.2317 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $0.93 dividend on an annualized basis and a dividend yield of 2.50%. Artesian Resources Corporation’s dividend payout ratio (DPR) is 63.27%.
In other news, insider Dian C. Taylor sold 4,702 shares of Artesian Resources Corporation stock in a transaction that occurred on 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 in the company, valued at approximately $3,893,852.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Nicholle Renee Taylor sold 2,678 shares of Artesian Resources Corporation stock in a transaction that occurred on 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 owns 7,003 shares of the company’s stock, valued at approximately $280,820.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,150 shares of company stock worth $407,004. Company insiders own 20.59% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ARTNA. Bank of America Corp DE grew its holdings in shares of Artesian Resources Corporation by 79.3% during the first quarter. Bank of America Corp DE now owns 3,823 shares of the utilities provider’s stock valued at $124,000 after buying an additional 1,691 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Artesian Resources Corporation by 543.1% during the second quarter. Citigroup Inc. now owns 3,640 shares of the utilities provider’s stock valued at $137,000 after buying an additional 3,074 shares in the last quarter. American International Group Inc. grew its holdings in shares of Artesian Resources Corporation by 7.4% during the first quarter. American International Group Inc. now owns 4,785 shares of the utilities provider’s stock valued at $156,000 after buying an additional 329 shares in the last quarter. AT Bancorp purchased a new position in shares of Artesian Resources Corporation during the second quarter valued at $188,000. Finally, Alliancebernstein L.P. purchased a new position in shares of Artesian Resources Corporation during the second quarter valued at $215,000. 39.87% of the stock is currently owned by hedge funds and other institutional investors.
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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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