Artesian Resources Co. (NASDAQ:ARTNA) Shares Purchased by Quest Partners LLC

Quest Partners LLC boosted its position in shares of Artesian Resources Co. (NASDAQ:ARTNA) by 658.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,002 shares of the utilities provider’s stock after purchasing an additional 7,815 shares during the period. Quest Partners LLC owned approximately 0.09% of Artesian Resources worth $335,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Artesian Resources by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,447 shares of the utilities provider’s stock worth $351,000 after purchasing an additional 382 shares during the period. Atria Investments Inc increased its position in shares of Artesian Resources by 7.1% during the third quarter. Atria Investments Inc now owns 6,527 shares of the utilities provider’s stock valued at $243,000 after acquiring an additional 431 shares during the last quarter. Costello Asset Management INC raised its stake 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 acquiring an additional 862 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Artesian Resources in the 1st quarter worth approximately $41,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Artesian Resources during the 2nd quarter worth approximately $50,000. 57.37% of the stock is currently owned by institutional investors and hedge funds.

Artesian Resources Stock Up 1.4 %

Shares of NASDAQ ARTNA opened at $34.82 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.22 and a debt-to-equity ratio of 0.74. The business’s 50 day moving average is $35.44 and its two-hundred day moving average is $36.58. Artesian Resources Co. has a 52-week low of $32.93 and a 52-week high of $44.78. The firm has a market cap of $358.65 million, a price-to-earnings ratio of 17.86 and a beta of 0.21.

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

Artesian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 15th were issued a $0.301 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.46%. This is a boost from Artesian Resources’s previous quarterly dividend of $0.30. Artesian Resources’s payout ratio is 62.05%.

Artesian Resources 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.