Artesian Resources Co. (NASDAQ:ARTNA) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC raised its position in Artesian Resources Co. (NASDAQ:ARTNA - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 276,937 shares of the utilities provider's stock after acquiring an additional 19,126 shares during the quarter. Renaissance Technologies LLC owned approximately 2.69% of Artesian Resources worth $8,757,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of Artesian Resources during the fourth quarter worth approximately $63,000. Wells Fargo & Company MN lifted its position in shares of Artesian Resources by 100.2% during the 4th quarter. Wells Fargo & Company MN now owns 3,514 shares of the utilities provider's stock worth $111,000 after purchasing an additional 1,759 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Artesian Resources in the fourth quarter valued at $272,000. American Century Companies Inc. boosted its position in shares of Artesian Resources by 30.3% during the 4th quarter. American Century Companies Inc. now owns 17,195 shares of the utilities provider's stock worth $544,000 after acquiring an additional 3,995 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Artesian Resources by 169.7% in 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. 57.37% of the stock is owned by hedge funds and other institutional investors.

Artesian Resources Stock Performance

Shares of Artesian Resources stock traded up $0.43 on Wednesday, hitting $35.29. The stock had a trading volume of 12,475 shares, compared to its average volume of 49,859. The company's 50 day moving average price is $32.44 and its 200 day moving average price is $32.77. The stock has a market cap of $363.59 million, a price-to-earnings ratio of 18.10 and a beta of 0.27. The company has a current ratio of 1.22, a quick ratio of 1.07 and a debt-to-equity ratio of 0.74. Artesian Resources Co. has a 52-week low of $29.45 and a 52-week high of $41.29.

Artesian Resources (NASDAQ:ARTNA - Get Free Report) last announced its earnings results on Tuesday, March 25th. The utilities provider reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.01. Artesian Resources had a net margin of 18.96% and a return on equity of 8.57%. The business had revenue of $25.00 million during the quarter, compared to analysts' expectations of $25.00 million. On average, research analysts anticipate that Artesian Resources Co. will post 1.92 EPS for the current year.

Artesian Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a dividend of $0.3014 per share. This represents a $1.21 dividend on an annualized basis and a dividend yield of 3.42%. This is an increase from Artesian Resources's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, February 7th. Artesian Resources's dividend payout ratio (DPR) is presently 60.61%.

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.