KBC Group NV decreased its position in Artesian Resources Corporation (NASDAQ:ARTNA) by 6.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,568 shares of the utilities provider’s stock after selling 2,989 shares during the period. KBC Group NV owned 0.51% of Artesian Resources Corporation worth $1,753,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of Montreal Can boosted its position in shares of Artesian Resources Corporation by 229.2% in the first quarter. Bank of Montreal Can now owns 6,686 shares of the utilities provider’s stock worth $218,000 after buying an additional 4,655 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Artesian Resources Corporation by 5.1% in the first quarter. Wells Fargo & Company MN now owns 29,935 shares of the utilities provider’s stock worth $975,000 after buying an additional 1,463 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Artesian Resources Corporation by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 100,194 shares of the utilities provider’s stock worth $3,262,000 after buying an additional 5,337 shares in the last quarter. Teton Advisors Inc. boosted its position in shares of Artesian Resources Corporation by 1.2% in the first quarter. Teton Advisors Inc. now owns 24,526 shares of the utilities provider’s stock worth $799,000 after buying an additional 300 shares in the last quarter. Finally, FCA Corp TX boosted its position in shares of Artesian Resources Corporation by 3.3% in the first quarter. FCA Corp TX now owns 81,564 shares of the utilities provider’s stock worth $2,656,000 after buying an additional 2,600 shares in the last quarter. Hedge funds and other institutional investors own 39.87% of the company’s stock.

Artesian Resources Corporation (NASDAQ:ARTNA) opened at 37.27 on Wednesday. The company has a market cap of $342.44 million, a PE ratio of 25.53 and a beta of 0.10. Artesian Resources Corporation has a 1-year low of $26.28 and a 1-year high of $41.90. The stock has a 50 day moving average of $37.74 and a 200-day moving average of $36.14.

The business also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 14th were given a dividend of $0.2317 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $0.93 annualized dividend and a yield of 2.49%. Artesian Resources Corporation’s payout ratio is presently 63.27%.

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ARTNA has been the subject of a number of analyst reports. Hilliard Lyons cut shares of Artesian Resources Corporation from a “buy” rating to a “neutral” rating and set a $41.00 price target for the company. in a research note on Thursday, May 4th. Zacks Investment Research cut shares of Artesian Resources Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. Finally, BidaskClub cut shares of Artesian Resources Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th.

In other Artesian Resources Corporation news, Director Nicholle Renee Taylor sold 2,770 shares of Artesian Resources Corporation stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $40.13, for a total transaction of $111,160.10. Following the completion of the sale, the director now directly owns 6,979 shares in the company, valued at $280,067.27. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John R. Eisenbrey, Jr. sold 13,500 shares of Artesian Resources Corporation stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $40.59, for a total transaction of $547,965.00. Following the sale, the director now owns 54,501 shares of the company’s stock, valued at $2,212,195.59. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,650 shares of company stock valued at $954,969. 20.59% of the stock is currently owned by company insiders.

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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