Trexquant Investment LP Grows Holdings in Artesian Resources Co. (NASDAQ:ARTNA)

Trexquant Investment LP grew its holdings in Artesian Resources Co. (NASDAQ:ARTNA - Free Report) by 83.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,164 shares of the utilities provider's stock after purchasing an additional 22,821 shares during the period. Trexquant Investment LP owned about 0.49% of Artesian Resources worth $1,586,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in Artesian Resources by 16.9% during the fourth quarter. Bank of New York Mellon Corp now owns 85,766 shares of the utilities provider's stock valued at $2,712,000 after purchasing an additional 12,396 shares in the last quarter. Geode Capital Management LLC boosted its position in Artesian Resources by 2.1% during the third quarter. Geode Capital Management LLC now owns 110,317 shares of the utilities provider's stock valued at $4,104,000 after purchasing an additional 2,225 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Artesian Resources by 169.7% during the third quarter. JPMorgan Chase & Co. now owns 16,035 shares of the utilities provider's stock valued at $596,000 after purchasing an additional 10,089 shares in the last quarter. State Street Corp boosted its position in Artesian Resources by 0.6% during the third quarter. State Street Corp now owns 66,146 shares of the utilities provider's stock valued at $2,459,000 after purchasing an additional 384 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Artesian Resources by 103.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,598 shares of the utilities provider's stock worth $715,000 after acquiring an additional 11,502 shares in the last quarter. Hedge funds and other institutional investors own 57.37% of the company's stock.

Artesian Resources Price Performance

Shares of NASDAQ ARTNA opened at $31.86 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.07 and a current ratio of 1.22. The company has a market cap of $328.25 million, a PE ratio of 16.34 and a beta of 0.27. The business has a 50-day simple moving average of $31.85 and a two-hundred day simple moving average of $32.92. Artesian Resources Co. has a fifty-two week low of $29.45 and a fifty-two week high of $41.29.

Artesian Resources (NASDAQ:ARTNA - Get Free Report) last issued its quarterly earnings results on Tuesday, March 25th. The utilities provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. The business had revenue of $25.00 million during the quarter, compared to the consensus estimate of $25.00 million. Artesian Resources had a return on equity of 8.57% and a net margin of 18.96%. As a group, equities analysts expect that Artesian Resources Co. will post 1.92 EPS for the current fiscal year.

Artesian Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a $0.3014 dividend. This represents a $1.21 annualized dividend and a yield of 3.78%. The ex-dividend date was Friday, February 7th. This is an increase from Artesian Resources's previous quarterly dividend of $0.30. Artesian Resources's dividend payout ratio (DPR) is currently 60.61%.

Artesian Resources Company 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.

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