Russell Investments Group Ltd. Has $3.03 Million Position in Artesian Resources Corporation $ARTNA

Russell Investments Group Ltd. lifted its stake in shares of Artesian Resources Corporation (NASDAQ:ARTNA) by 5.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 92,840 shares of the utilities provider’s stock after acquiring an additional 5,134 shares during the period. Russell Investments Group Ltd. owned 0.90% of Artesian Resources worth $3,031,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Artesian Resources by 4,084.4% during the 1st quarter. GAMMA Investing LLC now owns 1,339 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 1,307 shares during the period. Aquatic Capital Management LLC lifted its position in shares of Artesian Resources by 703.3% during the 4th quarter. Aquatic Capital Management LLC now owns 2,410 shares of the utilities provider’s stock valued at $76,000 after acquiring an additional 2,110 shares during the period. Wells Fargo & Company MN lifted its position in shares of Artesian Resources by 100.2% during the 4th quarter. Wells Fargo & Company MN now owns 3,514 shares of the utilities provider’s stock valued at $111,000 after acquiring an additional 1,759 shares during the period. Moors & Cabot Inc. acquired a new position in Artesian Resources during the first quarter worth $209,000. Finally, XTX Topco Ltd acquired a new position in Artesian Resources during the first quarter worth $247,000. Institutional investors and hedge funds own 57.37% of the company’s stock.

Artesian Resources Stock Performance

ARTNA opened at $33.84 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.69 and a debt-to-equity ratio of 0.72. The company’s fifty day moving average price is $33.44 and its two-hundred day moving average price is $33.19. Artesian Resources Corporation has a 1-year low of $29.45 and a 1-year high of $38.94. The company has a market cap of $348.89 million, a price-to-earnings ratio of 15.59 and a beta of 0.34.

Artesian Resources (NASDAQ:ARTNA) last released its quarterly earnings data on Monday, August 4th. The utilities provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.05. Artesian Resources had a net margin of 20.84% and a return on equity of 9.55%. The firm had revenue of $28.55 million for the quarter, compared to the consensus estimate of $29.00 million. On average, analysts expect that Artesian Resources Corporation will post 1.92 EPS for the current fiscal year.

Artesian Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Friday, August 15th will be paid a $0.3074 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.23 annualized dividend and a dividend yield of 3.6%. Artesian Resources’s dividend payout ratio is presently 56.68%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Artesian Resources from a “hold” rating to a “buy” rating in a report on Monday, May 5th.

Artesian Resources 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.