Artesian Resources Co. (NASDAQ:ARTNA) Shares Purchased by Jacobi Capital Management LLC

Jacobi Capital Management LLC boosted its position in Artesian Resources Co. (NASDAQ:ARTNA – Get Rating) by 34.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,207 shares of the utilities provider’s stock after purchasing an additional 2,112 shares during the period. Jacobi Capital Management LLC’s holdings in Artesian Resources were worth $398,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. acquired a new stake in Artesian Resources in the first quarter valued at about $49,000. Nisa Investment Advisors LLC acquired a new stake in Artesian Resources in the first quarter valued at about $183,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Artesian Resources during the 4th quarter valued at approximately $204,000. BNP Paribas Arbitrage SA lifted its position in shares of Artesian Resources by 59.9% during the 4th quarter. BNP Paribas Arbitrage SA now owns 4,566 shares of the utilities provider’s stock valued at $212,000 after acquiring an additional 1,711 shares during the period. Finally, Summit Global Investments acquired a new stake in shares of Artesian Resources during the 4th quarter valued at approximately $213,000. Institutional investors and hedge funds own 45.75% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Artesian Resources from a “buy” rating to a “hold” rating in a research report on Saturday, July 30th.

Artesian Resources Trading Up 0.1 %

Shares of Artesian Resources stock opened at $53.70 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.30 and a quick ratio of 0.25. Artesian Resources Co. has a 1 year low of $36.55 and a 1 year high of $53.80. The company has a market capitalization of $506.93 million, a P/E ratio of 28.87 and a beta of 0.11. The business has a 50 day moving average price of $49.22 and a 200 day moving average price of $47.78.

Artesian Resources (NASDAQ:ARTNA – Get Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.03. Artesian Resources had a return on equity of 9.93% and a net margin of 18.62%. Sell-side analysts anticipate that Artesian Resources Co. will post 1.9 EPS for the current fiscal year.

Artesian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 23rd. Investors of record on Tuesday, August 9th will be given a dividend of $0.273 per share. The ex-dividend date of this dividend is Monday, August 8th. This represents a $1.09 annualized dividend and a dividend yield of 2.03%. Artesian Resources’s dividend payout ratio is currently 58.60%.

Artesian Resources Profile

(Get Rating)

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.