Artesian Resources Co. (NASDAQ:ARTNA) has been assigned a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.

Zacks has also assigned Artesian Resources an industry rank of 193 out of 265 based on the ratings given to related companies.

Several analysts have recently weighed in on ARTNA shares. BidaskClub lowered shares of Artesian Resources from a “sell” rating to a “strong sell” rating in a report on Thursday, January 18th. Zacks Investment Research raised shares of Artesian Resources from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th.

In other news, Director Kenneth R. Biederman sold 2,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $39.05, for a total transaction of $78,100.00. Following the sale, the director now directly owns 21,875 shares of the company’s stock, valued at $854,218.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William C. Wyer sold 6,750 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $42.00, for a total transaction of $283,500.00. The disclosure for this sale can be found here. Insiders have sold 17,548 shares of company stock worth $734,283 over the last three months. 20.59% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Artesian Resources by 1.1% during the fourth quarter. BlackRock Inc. now owns 396,514 shares of the utilities provider’s stock valued at $15,289,000 after purchasing an additional 4,259 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Artesian Resources by 1.0% during the second quarter. Vanguard Group Inc. now owns 369,434 shares of the utilities provider’s stock valued at $13,906,000 after purchasing an additional 3,541 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Artesian Resources by 9.5% during the third quarter. Dimensional Fund Advisors LP now owns 237,999 shares of the utilities provider’s stock valued at $8,997,000 after purchasing an additional 20,661 shares during the last quarter. State Street Corp grew its stake in shares of Artesian Resources by 5.0% during the second quarter. State Street Corp now owns 181,189 shares of the utilities provider’s stock valued at $6,819,000 after purchasing an additional 8,679 shares during the last quarter. Finally, WFG Advisors LP grew its stake in shares of Artesian Resources by 9.4% during the second quarter. WFG Advisors LP now owns 144,011 shares of the utilities provider’s stock valued at $5,421,000 after purchasing an additional 12,399 shares during the last quarter. 38.53% of the stock is currently owned by institutional investors and hedge funds.

Artesian Resources (NASDAQ ARTNA) traded down $0.60 during midday trading on Monday, hitting $34.45. 26,552 shares of the stock traded hands, compared to its average volume of 25,798. The firm has a market capitalization of $322.18, a price-to-earnings ratio of 24.43 and a beta of 0.05. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 0.73. Artesian Resources has a 12 month low of $30.09 and a 12 month high of $43.22.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be paid a dividend of $0.2352 per share. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.94 annualized dividend and a dividend yield of 2.73%. Artesian Resources’s dividend payout ratio (DPR) is currently 66.67%.

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Artesian Resources 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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