Zacks Investment Research upgraded shares of Artesian Resources (NASDAQ:ARTNA) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.
According to Zacks, “Artesian Resources Corporation operates as the parent holding company of Artesian Water Company, Inc a regulated public water utility. Artesian Water provides water utility service to customers with in its established service territory in portions of New Castle County, Delaware. “
Separately, BidaskClub cut shares of Artesian Resources from a hold rating to a sell rating in a research note on Thursday, December 7th.
Artesian Resources (NASDAQ ARTNA) traded down $0.47 on Tuesday, hitting $38.40. 18,223 shares of the company traded hands, compared to its average volume of 27,411. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.64 and a current ratio of 0.71. Artesian Resources has a 1 year low of $29.36 and a 1 year high of $43.22. The firm has a market cap of $354.65, a PE ratio of 27.23 and a beta of 0.10.
Artesian Resources (NASDAQ:ARTNA) last posted its earnings results on Thursday, November 2nd. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.03). Artesian Resources had a net margin of 15.96% and a return on equity of 9.18%. The firm had revenue of $22.36 million during the quarter. analysts forecast that Artesian Resources will post 1.42 earnings per share for the current fiscal year.
In other Artesian Resources news, insider Dian C. Taylor sold 8,798 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $42.36, for a total transaction of $372,683.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William C. Wyer sold 6,750 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was 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 valued at $734,283 over the last 90 days. 20.59% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of ARTNA. Schwab Charles Investment Management Inc. raised its position in Artesian Resources by 35.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 19,700 shares of the utilities provider’s stock worth $742,000 after acquiring an additional 5,200 shares during the period. Bank of New York Mellon Corp raised its position in Artesian Resources by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 101,186 shares of the utilities provider’s stock worth $3,809,000 after acquiring an additional 992 shares during the period. Alliancebernstein L.P. acquired a new position in Artesian Resources during the second quarter worth $215,000. Martingale Asset Management L P raised its position in Artesian Resources by 3.2% during the second quarter. Martingale Asset Management L P now owns 47,908 shares of the utilities provider’s stock worth $1,804,000 after acquiring an additional 1,496 shares during the period. Finally, Teachers Advisors LLC raised its position in Artesian Resources by 13.4% during the second quarter. Teachers Advisors LLC now owns 13,987 shares of the utilities provider’s stock worth $526,000 after acquiring an additional 1,653 shares during the period. Institutional investors own 38.77% of the company’s stock.
About Artesian Resources
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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