Janney Montgomery Scott LLC Acquires New Holdings in Artesian Resources Co. (NASDAQ:ARTNA)

Janney Montgomery Scott LLC purchased a new stake in Artesian Resources Co. (NASDAQ:ARTNAGet Rating) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,132 shares of the utilities provider’s stock, valued at approximately $488,000. Janney Montgomery Scott LLC owned about 0.11% of Artesian Resources as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ARTNA. Amalgamated Bank purchased a new stake in Artesian Resources in the first quarter valued at about $48,000. SeaCrest Wealth Management LLC purchased a new position in shares of Artesian Resources in the second quarter worth about $54,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of Artesian Resources in the second quarter worth about $84,000. FMR LLC raised its stake in shares of Artesian Resources by 24.4% in the second quarter. FMR LLC now owns 3,416 shares of the utilities provider’s stock worth $168,000 after purchasing an additional 670 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Artesian Resources by 26.4% in the second quarter. BNP Paribas Arbitrage SA now owns 3,473 shares of the utilities provider’s stock worth $171,000 after purchasing an additional 726 shares during the last quarter. 49.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Artesian Resources

In other Artesian Resources news, insider Dian C. Taylor sold 4,768 shares of the business’s stock in a transaction on Friday, December 9th. The stock was sold at an average price of $55.58, for a total transaction of $265,005.44. Following the transaction, the insider now owns 105,021 shares of the company’s stock, valued at $5,837,067.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Artesian Resources news, insider Dian C. Taylor sold 4,768 shares of the business’s stock in a transaction on Friday, December 9th. The stock was sold at an average price of $55.58, for a total transaction of $265,005.44. Following the transaction, the insider now owns 105,021 shares of the company’s stock, valued at $5,837,067.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nicholle Renee Taylor acquired 535 shares of the stock in a transaction on Thursday, November 17th. The shares were bought at an average cost of $50.00 per share, for a total transaction of $26,750.00. Following the purchase, the senior vice president now directly owns 281,674 shares of the company’s stock, valued at approximately $14,083,700. The disclosure for this purchase can be found here. Insiders have sold 9,293 shares of company stock valued at $508,058 over the last ninety days. Insiders own 20.59% of the company’s stock.

Artesian Resources Stock Down 2.3 %

Shares of ARTNA opened at $59.79 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 0.93. Artesian Resources Co. has a 12 month low of $44.08 and a 12 month high of $61.95. The stock’s 50 day moving average is $56.51 and its two-hundred day moving average is $53.73. The firm has a market cap of $567.47 million, a P/E ratio of 30.35 and a beta of 0.16.

Artesian Resources (NASDAQ:ARTNAGet Rating) last issued its quarterly earnings data on Thursday, November 3rd. The utilities provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.58 by $0.07. The company had revenue of $26.58 million for the quarter, compared to analyst estimates of $26.00 million. Artesian Resources had a return on equity of 10.30% and a net margin of 19.44%. Analysts predict that Artesian Resources Co. will post 1.93 earnings per share for the current fiscal year.

Artesian Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 23rd. Stockholders of record on Monday, November 14th were paid a $0.2784 dividend. The ex-dividend date of this dividend was Thursday, November 10th. This is a positive change from Artesian Resources’s previous quarterly dividend of $0.23. This represents a $1.11 dividend on an annualized basis and a dividend yield of 1.86%. Artesian Resources’s payout ratio is currently 56.35%.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Artesian Resources in a research report on Wednesday, October 12th. They set a “hold” rating for the company.

Artesian Resources Company 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.

See Also

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Institutional Ownership by Quarter for Artesian Resources (NASDAQ:ARTNA)

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