Artesian Resources Co. (NASDAQ:ARTNA) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors trimmed its holdings in shares of Artesian Resources Co. (NASDAQ:ARTNA) by 27.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 6,188 shares of the utilities provider’s stock after selling 2,370 shares during the quarter. Captrust Financial Advisors’ holdings in Artesian Resources were worth $230,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Quest Partners LLC purchased a new stake in shares of Artesian Resources during the second quarter valued at approximately $42,000. Point72 DIFC Ltd acquired a new stake in shares of Artesian Resources in the 2nd quarter worth about $50,000. Ballentine Partners LLC acquired a new stake in shares of Artesian Resources in the 3rd quarter worth about $217,000. Atria Investments Inc increased its holdings in shares of Artesian Resources by 7.1% in the 3rd quarter. Atria Investments Inc now owns 6,527 shares of the utilities provider’s stock worth $243,000 after acquiring an additional 431 shares during the period. Finally, Walleye Capital LLC acquired a new position in Artesian Resources during the 3rd quarter valued at about $289,000. 57.37% of the stock is owned by institutional investors and hedge funds.

Artesian Resources Stock Up 0.5 %

Artesian Resources stock opened at $33.43 on Monday. The stock has a market cap of $344.33 million, a price-to-earnings ratio of 17.14 and a beta of 0.22. 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 company’s 50-day moving average price is $34.61 and its two-hundred day moving average price is $36.08. Artesian Resources Co. has a 52 week low of $32.93 and a 52 week high of $44.59.

Artesian Resources (NASDAQ:ARTNA) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.66 earnings per share 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 company had revenue of $29.14 million during the quarter, compared to analyst estimates of $29.00 million. On average, analysts expect that Artesian Resources Co. will post 1.92 EPS for the current fiscal year.

Artesian Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 15th were issued a $0.301 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.60%. This is a boost from Artesian Resources’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, November 15th. Artesian Resources’s dividend payout ratio (DPR) is presently 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.