KBC Group NV reduced its position in Artesian Resources Co. (NASDAQ:ARTNA) by 32.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 31,249 shares of the utilities provider’s stock after selling 15,319 shares during the period. KBC Group NV owned about 0.34% of Artesian Resources worth $1,181,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its stake in Artesian Resources by 3.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,415 shares of the utilities provider’s stock valued at $279,000 after purchasing an additional 235 shares during the last quarter. Strs Ohio lifted its position in Artesian Resources by 5.9% during the second quarter. Strs Ohio now owns 9,000 shares of the utilities provider’s stock worth $338,000 after acquiring an additional 500 shares during the last quarter. Nationwide Fund Advisors lifted its position in Artesian Resources by 9.3% during the second quarter. Nationwide Fund Advisors now owns 8,200 shares of the utilities provider’s stock worth $309,000 after acquiring an additional 700 shares during the last quarter. Bank of New York Mellon Corp lifted 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 last quarter. Finally, FCA Corp TX lifted its position in Artesian Resources by 1.5% during the second quarter. FCA Corp TX now owns 82,774 shares of the utilities provider’s stock worth $3,116,000 after acquiring an additional 1,210 shares during the last quarter. Institutional investors and hedge funds own 40.34% of the company’s stock.
Several equities research analysts have issued reports on the stock. BidaskClub downgraded shares of Artesian Resources from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Zacks Investment Research upgraded shares of Artesian Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th.
Artesian Resources (NASDAQ:ARTNA) last announced its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The firm had revenue of $22.36 million during the quarter. Artesian Resources had a net margin of 15.96% and a return on equity of 9.18%. equities analysts anticipate that Artesian Resources Co. will post 1.42 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Monday, November 13th were paid a dividend of $0.2352 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Friday, November 10th. This is a boost from Artesian Resources’s previous quarterly dividend of $0.23. Artesian Resources’s payout ratio is presently 66.67%.
In other Artesian Resources news, insider Dian C. Taylor sold 8,798 shares of the business’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 SEC, which is available at this hyperlink. Also, Director William C. Wyer sold 6,750 shares of the business’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. In the last ninety days, insiders have sold 17,548 shares of company stock worth $734,283. Insiders own 20.59% of the company’s stock.
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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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