Artesian Resources Co. (NASDAQ:ARTNA) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors trimmed its stake in Artesian Resources Co. (NASDAQ:ARTNA) by 27.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 6,188 shares of the utilities provider’s stock after selling 2,370 shares during the period. Captrust Financial Advisors owned about 0.06% of Artesian Resources worth $230,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Walleye Capital LLC purchased a new stake in shares of Artesian Resources in the 3rd quarter valued at approximately $289,000. Foundry Partners LLC raised its position in Artesian Resources by 12.2% during the 3rd quarter. Foundry Partners LLC now owns 143,470 shares of the utilities provider’s stock worth $5,334,000 after buying an additional 15,580 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Artesian Resources during the 3rd quarter worth $413,000. Quest Partners LLC increased its holdings in shares of Artesian Resources by 658.4% in the 3rd quarter. Quest Partners LLC now owns 9,002 shares of the utilities provider’s stock valued at $335,000 after purchasing an additional 7,815 shares in the last quarter. Finally, Costello Asset Management INC increased its holdings in shares of Artesian Resources by 0.6% in the 3rd quarter. Costello Asset Management INC now owns 157,351 shares of the utilities provider’s stock valued at $5,850,000 after purchasing an additional 862 shares in the last quarter. 57.37% of the stock is owned by hedge funds and other institutional investors.

Artesian Resources Stock Performance

NASDAQ:ARTNA opened at $33.43 on Monday. The company has a current ratio of 1.22, a quick ratio of 1.07 and a debt-to-equity ratio of 0.74. The firm has a 50-day moving average price of $34.61 and a two-hundred day moving average price of $36.08. Artesian Resources Co. has a twelve month low of $32.93 and a twelve month high of $44.59. The company has a market capitalization of $344.33 million, a P/E ratio of 17.14 and a beta of 0.22.

Artesian Resources (NASDAQ:ARTNA) last posted its earnings results on Monday, November 4th. The utilities provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.05. Artesian Resources had a net margin of 18.96% and a return on equity of 8.57%. The firm had revenue of $29.14 million during the quarter, compared to the consensus estimate of $29.00 million. As a group, research analysts expect that Artesian Resources Co. will post 1.92 earnings per share for the current fiscal year.

Artesian Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 15th were given a $0.301 dividend. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from Artesian Resources’s previous quarterly dividend of $0.30. This represents a $1.20 annualized dividend and a dividend yield of 3.60%. Artesian Resources’s dividend payout ratio (DPR) is currently 62.05%.

Artesian Resources Company 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.