FCA Corp TX Sells 15,867 Shares of Artesian Resources Corporation $ARTNA

FCA Corp TX reduced its position in shares of Artesian Resources Corporation (NASDAQ:ARTNA) by 19.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 65,310 shares of the utilities provider’s stock after selling 15,867 shares during the quarter. FCA Corp TX’s holdings in Artesian Resources were worth $2,064,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Quarry LP bought a new stake in Artesian Resources in the third quarter worth $38,000. Jones Financial Companies Lllp increased its position in Artesian Resources by 39.7% in the third quarter. Jones Financial Companies Lllp now owns 1,435 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 408 shares during the last quarter. Osaic Holdings Inc. increased its position in Artesian Resources by 44.6% in the second quarter. Osaic Holdings Inc. now owns 1,632 shares of the utilities provider’s stock worth $55,000 after purchasing an additional 503 shares during the last quarter. Copeland Capital Management LLC bought a new stake in Artesian Resources in the fourth quarter worth $63,000. Finally, BNP Paribas Financial Markets increased its position in Artesian Resources by 422.1% in the second quarter. BNP Paribas Financial Markets now owns 3,717 shares of the utilities provider’s stock worth $125,000 after purchasing an additional 3,005 shares during the last quarter. Institutional investors own 57.37% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Artesian Resources from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Artesian Resources currently has an average rating of “Hold”.

Artesian Resources Stock Down 1.3%

Shares of ARTNA opened at $32.52 on Tuesday. The company has a market cap of $335.61 million, a PE ratio of 14.39 and a beta of 0.34. The business has a fifty day moving average of $32.19 and a 200 day moving average of $32.35. Artesian Resources Corporation has a 52-week low of $30.50 and a 52-week high of $34.90. The company has a quick ratio of 0.89, a current ratio of 1.01 and a debt-to-equity ratio of 0.73.

Artesian Resources (NASDAQ:ARTNA) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. The company had revenue of $27.77 million during the quarter, compared to the consensus estimate of $27.00 million. Artesian Resources had a return on equity of 9.61% and a net margin of 20.86%.

Artesian Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a $0.3199 dividend. This is a boost from Artesian Resources’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Friday, May 15th. Artesian Resources’s dividend payout ratio is 56.64%.

Artesian Resources Company Profile

Artesian Resources Corporation (NASDAQ: ARTNA) is a publicly traded water and wastewater utility company headquartered in Wilmington, Delaware. The company provides regulated water distribution and wastewater collection services to residential, commercial and industrial customers. Through its operating subsidiaries, Artesian is subject to oversight by public utility commissions in Delaware, Maryland and Pennsylvania, ensuring the delivery of safe, high-quality water in compliance with state and federal standards.

Traced back to its roots as the Artesian Water Company founded in 1905, the organization has expanded its footprint through a combination of organic growth and strategic acquisitions.