R Squared Ltd Makes New $485,000 Investment in Artesian Resources Corporation $ARTNA

R Squared Ltd bought a new position in shares of Artesian Resources Corporation (NASDAQ:ARTNA) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,878 shares of the utilities provider’s stock, valued at approximately $485,000.

Other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp grew its stake in Artesian Resources by 39.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,435 shares of the utilities provider’s stock worth $47,000 after buying an additional 408 shares during the last quarter. Osaic Holdings Inc. lifted its stake in Artesian Resources by 44.6% in the second quarter. Osaic Holdings Inc. now owns 1,632 shares of the utilities provider’s stock valued at $55,000 after buying an additional 503 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Artesian Resources by 422.1% in the second quarter. BNP Paribas Financial Markets now owns 3,717 shares of the utilities provider’s stock valued at $125,000 after acquiring an additional 3,005 shares during the period. Gitterman Wealth Management LLC grew its position in shares of Artesian Resources by 122.0% during the third quarter. Gitterman Wealth Management LLC now owns 7,134 shares of the utilities provider’s stock worth $233,000 after acquiring an additional 3,921 shares during the last quarter. Finally, Creative Planning acquired a new position in shares of Artesian Resources in the 2nd quarter valued at $267,000. 57.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ARTNA has been the subject of several research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Artesian Resources in a research report on Wednesday, January 21st. Zacks Research raised shares of Artesian Resources from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Artesian Resources currently has an average rating of “Hold”.

Artesian Resources Price Performance

Shares of NASDAQ ARTNA opened at $33.88 on Friday. The stock has a fifty day moving average price of $32.87 and a 200 day moving average price of $32.63. Artesian Resources Corporation has a 1-year low of $30.50 and a 1-year high of $36.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.68 and a quick ratio of 0.54. The company has a market cap of $349.30 million, a PE ratio of 15.47 and a beta of 0.36.

Artesian Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Friday, February 13th were issued a $0.3136 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.25 annualized dividend and a dividend yield of 3.7%. Artesian Resources’s payout ratio is presently 57.08%.

About Artesian Resources

Artesian Resources Corporation (NASDAQ: ARTNA) is a publicly traded water and wastewater utility company headquartered in Wilmington, Delaware. The company provides regulated water distribution and wastewater collection services to residential, commercial and industrial customers. Through its operating subsidiaries, Artesian is subject to oversight by public utility commissions in Delaware, Maryland and Pennsylvania, ensuring the delivery of safe, high-quality water in compliance with state and federal standards.

Traced back to its roots as the Artesian Water Company founded in 1905, the organization has expanded its footprint through a combination of organic growth and strategic acquisitions.