Artesian Resources Co. (NASDAQ:ARTNA) has been given a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.
Zacks has also assigned Artesian Resources an industry rank of 125 out of 265 based on the ratings given to related companies.
Several analysts recently weighed in on the company. BidaskClub downgraded Artesian Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 18th. Zacks Investment Research upgraded Artesian Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th.
The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a $0.2352 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.94 annualized dividend and a dividend yield of 2.70%. Artesian Resources’s payout ratio is currently 66.67%.
Institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its stake in Artesian Resources by 3.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,415 shares of the utilities provider’s stock valued at $279,000 after purchasing an additional 235 shares during the last quarter. Cornerstone Capital Management Holdings LLC. lifted its holdings in shares of Artesian Resources by 139.7% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 2,917 shares of the utilities provider’s stock valued at $109,000 after buying an additional 1,700 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Artesian Resources by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 369,434 shares of the utilities provider’s stock valued at $13,906,000 after buying an additional 3,541 shares during the period. Trustcore Financial Services LLC bought a new position in shares of Artesian Resources during the 4th quarter valued at $143,000. Finally, MetLife Investment Advisors LLC bought a new position in shares of Artesian Resources during the 4th quarter valued at $145,000. Institutional investors own 38.83% of the company’s stock.
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Artesian Resources 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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