Los Angeles Capital Management LLC Has $447,000 Stake in Artesian Resources Co. (NASDAQ:ARTNA)

Los Angeles Capital Management LLC decreased its position in Artesian Resources Co. (NASDAQ:ARTNA) by 10.1% in the third quarter, HoldingsChannel reports. The firm owned 11,720 shares of the utilities provider’s stock after selling 1,310 shares during the period. Los Angeles Capital Management LLC’s holdings in Artesian Resources were worth $447,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Marshall Wace North America L.P. purchased a new stake in Artesian Resources in the 1st quarter worth approximately $40,000. Arkadios Wealth Advisors lifted its position in Artesian Resources by 32.0% in the 3rd quarter. Arkadios Wealth Advisors now owns 3,300 shares of the utilities provider’s stock worth $125,000 after buying an additional 800 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Artesian Resources in the 3rd quarter worth approximately $187,000. Rockefeller Capital Management L.P. raised its holdings in shares of Artesian Resources by 190.4% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 5,736 shares of the utilities provider’s stock valued at $210,000 after purchasing an additional 3,761 shares in the last quarter. Finally, Trexquant Investment LP raised its holdings in shares of Artesian Resources by 29.1% during the 2nd quarter. Trexquant Investment LP now owns 7,642 shares of the utilities provider’s stock valued at $281,000 after purchasing an additional 1,724 shares in the last quarter. 45.27% of the stock is owned by hedge funds and other institutional investors.

NASDAQ ARTNA opened at $44.65 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.40 and a quick ratio of 0.37. The firm has a market capitalization of $419.98 million, a price-to-earnings ratio of 24.81 and a beta of 0.07. The company’s fifty day moving average is $44.12 and its two-hundred day moving average is $40.54. Artesian Resources Co. has a 52-week low of $35.90 and a 52-week high of $47.99.

Artesian Resources (NASDAQ:ARTNA) last posted its quarterly earnings results on Tuesday, November 2nd. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.04. The company had revenue of $24.99 million for the quarter, compared to analyst estimates of $24.00 million. Artesian Resources had a net margin of 18.75% and a return on equity of 9.82%. As a group, sell-side analysts expect that Artesian Resources Co. will post 1.81 earnings per share for the current fiscal year.

In other news, Director Nicholle Renee Taylor sold 4,750 shares of Artesian Resources stock in a transaction dated Tuesday, December 7th. The shares were sold at an average price of $42.33, for a total transaction of $201,067.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 20.59% of the company’s stock.

ARTNA has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Artesian Resources from a “buy” rating to a “hold” rating in a report on Tuesday, January 4th. Janney Montgomery Scott initiated coverage on shares of Artesian Resources in a report on Monday, October 25th. They issued a “buy” rating on the stock.

Artesian Resources Profile

Artesian Resources Corp. is a holding company, which engages in the provision of water resource management. Its activities include residential, commercial water and wastewater, government and contract services, and developers. The company was founded in 1927 and is headquartered in Newark, DE.

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

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