Janney Montgomery Scott LLC boosted its position in Artesian Resources Corporation (NASDAQ:ARTNA) by 56.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,008 shares of the utilities provider’s stock after buying an additional 7,942 shares during the period. Janney Montgomery Scott LLC’s holdings in Artesian Resources Corporation were worth $828,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ARTNA. Strs Ohio raised its stake in shares of Artesian Resources Corporation by 5.9% in the second quarter. Strs Ohio now owns 9,000 shares of the utilities provider’s stock worth $338,000 after buying an additional 500 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Artesian Resources Corporation during the second quarter worth approximately $285,000. Dalton Greiner Hartman Maher & Co. raised its stake in shares of Artesian Resources Corporation by 29.3% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 74,911 shares of the utilities provider’s stock worth $2,820,000 after buying an additional 16,968 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Artesian Resources Corporation during the first quarter worth approximately $317,000. Finally, Water Asset Management LLC raised its stake in shares of Artesian Resources Corporation by 899.1% in the first quarter. Water Asset Management LLC now owns 86,871 shares of the utilities provider’s stock worth $2,829,000 after buying an additional 78,176 shares during the last quarter. Hedge funds and other institutional investors own 39.87% of the company’s stock.

Artesian Resources Corporation (ARTNA) opened at 37.27 on Tuesday. Artesian Resources Corporation has a one year low of $26.28 and a one year high of $41.90. The firm’s 50-day moving average price is $38.09 and its 200-day moving average price is $35.85. The company has a market cap of $342.44 million, a PE ratio of 25.53 and a beta of 0.10.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Monday, August 14th will be paid a $0.2317 dividend. The ex-dividend date is Thursday, August 10th. This represents a $0.93 annualized dividend and a dividend yield of 2.49%. Artesian Resources Corporation’s payout ratio is 63.27%.

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A number of analysts recently commented on the company. BidaskClub lowered Artesian Resources Corporation from a “hold” rating to a “sell” rating in a research report on Friday. Zacks Investment Research lowered Artesian Resources Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th. Finally, Hilliard Lyons lowered Artesian Resources Corporation from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a research report on Thursday, May 4th.

In other news, insider Dian C. Taylor sold 4,702 shares of the stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $40.08, for a total value of $188,456.16. Following the completion of the sale, the insider now owns 97,152 shares of the company’s stock, valued at $3,893,852.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Nicholle Renee Taylor sold 2,678 shares of the stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $40.10, for a total value of $107,387.80. Following the completion of the sale, the director now directly owns 7,003 shares of the company’s stock, valued at approximately $280,820.30. The disclosure for this sale can be found here. In the last three months, insiders sold 23,650 shares of company stock valued at $954,969. Insiders own 20.59% of the company’s stock.

Artesian Resources Corporation Company Profile

Artesian Resources Corporation is a holding company. The Company’s subsidiaries offer water, wastewater and other services on the Delmarva Peninsula. The Company distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in the states of Delaware, Maryland and Pennsylvania.

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

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