SeaCrest Wealth Management LLC Acquires New Shares in Artesian Resources Co. (NASDAQ:ARTNA)

SeaCrest Wealth Management LLC bought a new position in shares of Artesian Resources Co. (NASDAQ:ARTNAGet Rating) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,100 shares of the utilities provider’s stock, valued at approximately $54,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of Artesian Resources by 17.3% in the 1st quarter. BlackRock Inc. now owns 779,501 shares of the utilities provider’s stock worth $37,845,000 after acquiring an additional 115,061 shares during the last quarter. EAM Investors LLC purchased a new stake in Artesian Resources in the first quarter valued at approximately $1,430,000. KBC Group NV raised its position in Artesian Resources by 20.7% in the second quarter. KBC Group NV now owns 123,484 shares of the utilities provider’s stock valued at $6,072,000 after purchasing an additional 21,206 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Artesian Resources by 82.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 37,459 shares of the utilities provider’s stock worth $1,841,000 after purchasing an additional 16,887 shares in the last quarter. Finally, Avidian Wealth Solutions LLC purchased a new position in shares of Artesian Resources during the second quarter worth $423,000. Hedge funds and other institutional investors own 49.15% of the company’s stock.

Artesian Resources Trading Up 4.7 %

NASDAQ ARTNA opened at $55.62 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.62 and a current ratio of 0.70. The firm has a market cap of $527.83 million, a price-to-earnings ratio of 28.23 and a beta of 0.18. The firm has a 50 day simple moving average of $51.07 and a 200-day simple moving average of $50.64. Artesian Resources Co. has a one year low of $41.52 and a one year high of $60.35.

Artesian Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 23rd. Stockholders of record on Monday, November 14th will be given a dividend of $0.2784 per share. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 2.00%. This is a positive change from Artesian Resources’s previous quarterly dividend of $0.23. Artesian Resources’s dividend payout ratio is currently 56.35%.

Insider Activity

In related news, SVP Nicholle Renee Taylor acquired 535 shares of the firm’s stock in a transaction dated Thursday, November 17th. The stock was acquired at an average price of $50.00 per share, for a total transaction of $26,750.00. Following the purchase, the senior vice president now owns 281,674 shares of the company’s stock, valued at approximately $14,083,700. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP Nicholle Renee Taylor acquired 535 shares of the company’s stock in a transaction on Thursday, November 17th. The shares were bought at an average cost of $50.00 per share, with a total value of $26,750.00. Following the transaction, the senior vice president now owns 281,674 shares in the company, valued at approximately $14,083,700. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dian C. Taylor sold 6,750 shares of the firm’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $58.55, for a total transaction of $395,212.50. Following the completion of the sale, the insider now owns 105,021 shares in the company, valued at $6,148,979.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,250 shares of company stock worth $1,039,647. Corporate insiders own 20.59% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Artesian Resources in a research note on Wednesday, October 12th. They set a “hold” rating on the stock.

About Artesian Resources

(Get Rating)

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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Institutional Ownership by Quarter for Artesian Resources (NASDAQ:ARTNA)

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