SRS Capital Advisors Inc. Trims Holdings in Artesian Resources Co. (NASDAQ:ARTNA)

SRS Capital Advisors Inc. lessened its position in Artesian Resources Co. (NASDAQ:ARTNA) by 44.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,290 shares of the utilities provider’s stock after selling 1,027 shares during the period. SRS Capital Advisors Inc.’s holdings in Artesian Resources were worth $53,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Quantbot Technologies LP increased its stake in shares of Artesian Resources by 153.5% during the 3rd quarter. Quantbot Technologies LP now owns 1,478 shares of the utilities provider’s stock valued at $62,000 after acquiring an additional 895 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Artesian Resources by 64.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,012 shares of the utilities provider’s stock worth $84,000 after purchasing an additional 787 shares during the period. SG Americas Securities LLC acquired a new position in shares of Artesian Resources in the 4th quarter valued at $129,000. Raymond James & Associates grew its stake in shares of Artesian Resources by 6.7% during the 3rd quarter. Raymond James & Associates now owns 6,318 shares of the utilities provider’s stock valued at $265,000 after buying an additional 398 shares during the period. Finally, Quadrature Capital Ltd increased its holdings in shares of Artesian Resources by 21.3% during the 3rd quarter. Quadrature Capital Ltd now owns 12,210 shares of the utilities provider’s stock worth $513,000 after buying an additional 2,148 shares during the last quarter. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. TheStreet cut shares of Artesian Resources from a “b-” rating to a “c+” rating in a research report on Monday, February 5th. StockNews.com upgraded shares of Artesian Resources from a “sell” rating to a “hold” rating in a report on Thursday, April 18th.

Artesian Resources Trading Up 1.7 %

NASDAQ ARTNA opened at $37.32 on Friday. The company’s fifty day moving average price is $35.50 and its two-hundred day moving average price is $38.30. The company has a market capitalization of $384.02 million, a price-to-earnings ratio of 22.48 and a beta of 0.20. Artesian Resources Co. has a 12 month low of $33.42 and a 12 month high of $55.98. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.37 and a quick ratio of 1.10.

Artesian Resources (NASDAQ:ARTNA) last released its earnings results on Wednesday, March 13th. The utilities provider reported $0.34 earnings per share for the quarter. Artesian Resources had a net margin of 16.89% and a return on equity of 7.62%. The firm had revenue of $24.55 million during the quarter. As a group, research analysts predict that Artesian Resources Co. will post 1.99 earnings per share for the current fiscal year.

Artesian Resources 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.