FCA Corp TX Trims Holdings in Artesian Resources Corporation $ARTNA

FCA Corp TX trimmed its position in Artesian Resources Corporation (NASDAQ:ARTNA) by 19.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,310 shares of the utilities provider’s stock after selling 15,867 shares during the quarter. FCA Corp TX owned about 0.63% of Artesian Resources worth $2,064,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Artesian Resources in the 3rd quarter worth approximately $38,000. Jones Financial Companies Lllp increased its holdings in Artesian Resources by 39.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,435 shares of the utilities provider’s stock worth $47,000 after acquiring an additional 408 shares in the last quarter. Osaic Holdings Inc. increased its holdings in Artesian Resources by 44.6% in the 2nd quarter. Osaic Holdings Inc. now owns 1,632 shares of the utilities provider’s stock worth $55,000 after acquiring an additional 503 shares in the last quarter. Copeland Capital Management LLC purchased a new stake in Artesian Resources in the 4th quarter worth approximately $63,000. Finally, BNP Paribas Financial Markets increased its holdings in Artesian Resources by 422.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,717 shares of the utilities provider’s stock worth $125,000 after acquiring an additional 3,005 shares in the last quarter. 57.37% of the stock is owned by hedge funds and other institutional investors.

Artesian Resources Trading Down 1.3%

Artesian Resources stock opened at $32.52 on Tuesday. Artesian Resources Corporation has a 1 year low of $30.50 and a 1 year high of $34.90. The firm’s 50 day moving average price is $32.19 and its 200-day moving average price is $32.35. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.01 and a quick ratio of 0.89. The stock has a market cap of $335.61 million, a P/E ratio of 14.39 and a beta of 0.34.

Artesian Resources (NASDAQ:ARTNA) last released its earnings results on Tuesday, May 5th. The utilities provider reported $0.57 EPS for the quarter, topping the consensus estimate of $0.48 by $0.09. Artesian Resources had a net margin of 20.86% and a return on equity of 9.61%. The firm had revenue of $27.77 million for the quarter, compared to the consensus estimate of $27.00 million.

Artesian Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a $0.3199 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.9%. This is a boost from Artesian Resources’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Friday, May 15th. Artesian Resources’s payout ratio is presently 56.64%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Artesian Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

Artesian Resources Company Profile

Artesian Resources Corporation (NASDAQ: ARTNA) is a publicly traded water and wastewater utility company headquartered in Wilmington, Delaware. The company provides regulated water distribution and wastewater collection services to residential, commercial and industrial customers. Through its operating subsidiaries, Artesian is subject to oversight by public utility commissions in Delaware, Maryland and Pennsylvania, ensuring the delivery of safe, high-quality water in compliance with state and federal standards.

Traced back to its roots as the Artesian Water Company founded in 1905, the organization has expanded its footprint through a combination of organic growth and strategic acquisitions.