Royal Bank of Canada trimmed its position in shares of Artesian Resources Corporation (NASDAQ:ARTNA) by 44.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,788 shares of the utilities provider’s stock after selling 3,903 shares during the period. Royal Bank of Canada owned approximately 0.05% of Artesian Resources Corporation worth $181,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in Artesian Resources Corporation by 79.3% during the 1st quarter. Bank of America Corp DE now owns 3,823 shares of the utilities provider’s stock valued at $124,000 after acquiring an additional 1,691 shares during the last quarter. Citigroup Inc. boosted its stake in Artesian Resources Corporation by 543.1% during the 2nd quarter. Citigroup Inc. now owns 3,640 shares of the utilities provider’s stock valued at $137,000 after acquiring an additional 3,074 shares during the last quarter. American International Group Inc. boosted its stake in Artesian Resources Corporation by 7.4% during the 1st quarter. American International Group Inc. now owns 4,785 shares of the utilities provider’s stock valued at $156,000 after acquiring an additional 329 shares during the last quarter. AT Bancorp bought a new position in Artesian Resources Corporation during the 2nd quarter valued at $188,000. Finally, Alliancebernstein L.P. bought a new position in Artesian Resources Corporation during the 2nd quarter valued at $215,000. 40.01% of the stock is owned by institutional investors and hedge funds.

Shares of Artesian Resources Corporation (NASDAQ:ARTNA) opened at $40.67 on Friday. The firm has a market cap of $373.84, a PE ratio of 28.84 and a beta of 0.09. Artesian Resources Corporation has a 52-week low of $29.36 and a 52-week high of $43.22. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.64.

Artesian Resources Corporation (NASDAQ:ARTNA) last issued its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). The firm had revenue of $22.36 million during the quarter. Artesian Resources Corporation had a net margin of 15.96% and a return on equity of 9.18%. equities analysts predict that Artesian Resources Corporation will post 1.42 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Monday, November 13th were paid a dividend of $0.2352 per share. This is a boost from Artesian Resources Corporation’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, November 10th. This represents a $0.94 annualized dividend and a yield of 2.31%. Artesian Resources Corporation’s dividend payout ratio (DPR) is presently 66.67%.

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In other Artesian Resources Corporation news, Director Kenneth R. Biederman sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $39.05, for a total transaction of $78,100.00. Following the transaction, the director now owns 21,875 shares of the company’s stock, valued at approximately $854,218.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 20.59% of the stock is currently owned by company insiders.

A number of research analysts have commented on ARTNA shares. Zacks Investment Research upgraded shares of Artesian Resources Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. BidaskClub downgraded shares of Artesian Resources Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 11th.

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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Institutional Ownership by Quarter for Artesian Resources Corporation (NASDAQ:ARTNA)

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