Northwestern Mutual Wealth Management Co. Grows Position in Artesian Resources Corporation $ARTNA

Northwestern Mutual Wealth Management Co. increased its position in shares of Artesian Resources Corporation (NASDAQ:ARTNA) by 344,107.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 326,997 shares of the utilities provider’s stock after purchasing an additional 326,902 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Artesian Resources were worth $10,336,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Artesian Resources by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 514,412 shares of the utilities provider’s stock worth $16,767,000 after purchasing an additional 3,079 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in Artesian Resources during the 2nd quarter valued at about $5,034,000. Roffman Miller Associates Inc. PA lifted its holdings in Artesian Resources by 16.4% during the 4th quarter. Roffman Miller Associates Inc. PA now owns 137,337 shares of the utilities provider’s stock valued at $4,341,000 after buying an additional 19,342 shares in the last quarter. Prospera Financial Services Inc lifted its holdings in Artesian Resources by 93.9% during the 3rd quarter. Prospera Financial Services Inc now owns 117,493 shares of the utilities provider’s stock valued at $3,830,000 after buying an additional 56,890 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC bought a new stake in Artesian Resources during the 3rd quarter valued at about $3,048,000. 57.37% of the stock is owned by hedge funds and other institutional investors.

Artesian Resources Trading Up 1.1%

Shares of ARTNA opened at $32.33 on Friday. Artesian Resources Corporation has a 1-year low of $30.50 and a 1-year high of $34.90. The company has a 50-day moving average of $32.01 and a 200 day moving average of $32.34. The firm has a market capitalization of $333.65 million, a price-to-earnings ratio of 14.31 and a beta of 0.33. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.01 and a quick ratio of 0.89.

Artesian Resources (NASDAQ:ARTNA) last posted its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $0.57 EPS for the quarter, beating 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 business had revenue of $27.77 million during the quarter, compared to analyst estimates of $27.00 million.

Artesian Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a $0.3199 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.28 annualized dividend and a dividend yield of 4.0%. This is an increase from Artesian Resources’s previous quarterly dividend of $0.31. Artesian Resources’s dividend payout ratio (DPR) is presently 56.64%.

Wall Street Analysts Forecast Growth

ARTNA has been the subject of a number of research analyst reports. Zacks Research upgraded shares of Artesian Resources from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. 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 analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Artesian Resources currently has a consensus 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.