Artesian Resources Corporation $ARTNA Stock Position Lessened by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in shares of Artesian Resources Corporation (NASDAQ:ARTNA) by 35.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,365 shares of the utilities provider’s stock after selling 15,945 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Artesian Resources were worth $998,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Artesian Resources by 344,107.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 326,997 shares of the utilities provider’s stock valued at $10,336,000 after purchasing an additional 326,902 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of Artesian Resources during the second quarter valued at approximately $5,034,000. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Artesian Resources during the third quarter worth $3,048,000. Renaissance Technologies LLC raised its position in shares of Artesian Resources by 15.1% during the 1st quarter. Renaissance Technologies LLC now owns 320,456 shares of the utilities provider’s stock valued at $10,207,000 after acquiring an additional 42,000 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Artesian Resources by 452.0% during the fourth quarter. Wells Fargo & Company MN now owns 38,525 shares of the utilities provider’s stock worth $1,218,000 after purchasing an additional 31,546 shares in the last quarter. 57.37% of the stock is currently owned by institutional investors and hedge funds.

Artesian Resources Trading Up 0.2%

ARTNA opened at $35.78 on Friday. The company’s 50 day moving average price is $33.84 and its two-hundred day moving average price is $33.01. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 0.89. The firm has a market capitalization of $369.25 million, a price-to-earnings ratio of 15.62 and a beta of 0.33. Artesian Resources Corporation has a fifty-two week low of $30.50 and a fifty-two week high of $35.87.

Artesian Resources (NASDAQ:ARTNA) last released its earnings results on Friday, August 7th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. Artesian Resources had a net margin of 20.18% and a return on equity of 9.37%. The company had revenue of $30.66 million for the quarter, compared to the consensus estimate of $29.80 million.

Artesian Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 17th will be given a dividend of $0.3199 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, August 17th. Artesian Resources’s dividend payout ratio (DPR) is 55.90%.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Artesian Resources from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 17th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Artesian Resources 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.