Zacks: Artesian Resources Corporation (ARTNA) Receives Average Rating of “Hold” from Analysts
Shares of Artesian Resources Corporation (NASDAQ:ARTNA) have been assigned a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.
Zacks has also given Artesian Resources Corporation an industry rank of 195 out of 265 based on the ratings given to related companies.
A number of research firms recently weighed in on ARTNA. BidaskClub lowered shares of Artesian Resources Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Zacks Investment Research lowered shares of Artesian Resources Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 15th.
Artesian Resources Corporation (NASDAQ ARTNA) traded up 0.79% during mid-day trading on Thursday, reaching $37.21. 15,673 shares of the company’s stock were exchanged. Artesian Resources Corporation has a one year low of $26.36 and a one year high of $41.90. The firm has a market capitalization of $341.89 million, a P/E ratio of 25.49 and a beta of 0.10. The company’s 50-day moving average is $37.68 and its 200 day moving average is $36.67.
The company also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders 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 yield of 2.49%. Artesian Resources Corporation’s dividend payout ratio is presently 63.27%.
In other news, Director Nicholle Renee Taylor sold 2,770 shares of the company’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $40.13, for a total transaction of $111,160.10. Following the transaction, the director now owns 6,979 shares in the company, valued at $280,067.27. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Dian C. Taylor sold 4,702 shares of the company’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $40.08, for a total transaction of $188,456.16. Following the transaction, the insider now owns 97,152 shares in the company, valued at approximately $3,893,852.16. The disclosure for this sale can be found here. Insiders sold 10,150 shares of company stock valued at $407,004 over the last quarter. 20.59% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of ARTNA. Bank of America Corp DE increased its holdings in Artesian Resources Corporation by 79.3% in the 1st quarter. Bank of America Corp DE now owns 3,823 shares of the utilities provider’s stock worth $124,000 after buying an additional 1,691 shares during the period. Citigroup Inc. increased its holdings in Artesian Resources Corporation by 543.1% in the 2nd quarter. Citigroup Inc. now owns 3,640 shares of the utilities provider’s stock worth $137,000 after buying an additional 3,074 shares during the period. American International Group Inc. increased its holdings in Artesian Resources Corporation by 7.4% in the 1st quarter. American International Group Inc. now owns 4,785 shares of the utilities provider’s stock worth $156,000 after buying an additional 329 shares during the period. AT Bancorp acquired a new position in Artesian Resources Corporation in the 2nd quarter worth approximately $188,000. Finally, Alliancebernstein L.P. acquired a new position in Artesian Resources Corporation in the 2nd quarter worth approximately $215,000. Institutional investors own 39.87% of the company’s stock.
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About Artesian Resources Corporation
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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