Artesian Resources Co. (NASDAQ:ARTNA) Shares Purchased by Quest Partners LLC

Quest Partners LLC lifted its holdings in Artesian Resources Co. (NASDAQ:ARTNA) by 658.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,002 shares of the utilities provider’s stock after purchasing an additional 7,815 shares during the period. Quest Partners LLC’s holdings in Artesian Resources were worth $335,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ARTNA. Vanguard Group Inc. grew its holdings in Artesian Resources by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 545,615 shares of the utilities provider’s stock worth $20,248,000 after acquiring an additional 14,668 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new position in Artesian Resources during the 2nd quarter worth approximately $539,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Artesian Resources by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,447 shares of the utilities provider’s stock valued at $351,000 after buying an additional 382 shares in the last quarter. ELCO Management Co. LLC boosted its holdings in shares of Artesian Resources by 98.7% in the 2nd quarter. ELCO Management Co. LLC now owns 11,072 shares of the utilities provider’s stock valued at $389,000 after buying an additional 5,500 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of Artesian Resources in the 2nd quarter valued at $50,000. Institutional investors and hedge funds own 57.37% of the company’s stock.

Artesian Resources Trading Up 1.4 %

Shares of Artesian Resources stock opened at $34.82 on Tuesday. The company has a fifty day simple moving average of $35.44 and a 200-day simple moving average of $36.58. Artesian Resources Co. has a 12-month low of $32.93 and a 12-month high of $44.78. The company has a current ratio of 1.22, a quick ratio of 1.07 and a debt-to-equity ratio of 0.74. The stock has a market cap of $358.65 million, a price-to-earnings ratio of 17.86 and a beta of 0.21.

Artesian Resources (NASDAQ:ARTNA) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.05. Artesian Resources had a net margin of 18.96% and a return on equity of 8.57%. The business had revenue of $29.14 million during the quarter, compared to analysts’ expectations of $29.00 million. On average, equities analysts forecast that Artesian Resources Co. will post 1.92 EPS for the current fiscal year.

Artesian Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 15th were given a $0.301 dividend. This is an increase from Artesian Resources’s previous quarterly dividend of $0.30. The ex-dividend date was Friday, November 15th. This represents a $1.20 annualized dividend and a yield of 3.46%. Artesian Resources’s dividend payout ratio is 62.05%.

Artesian Resources Company 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.