Zacks Investment Research upgraded shares of Artesian Resources Corporation (NASDAQ:ARTNA) from a sell rating to a hold rating in a research note published on Tuesday.
According to Zacks, “Artesian Resources Corporation operates as the parent holding company of Artesian Water Company, Inc a regulated public water utility. Artesian Water provides water utility service to customers with in its established service territory in portions of New Castle County, Delaware. “
Separately, BidaskClub cut shares of Artesian Resources Corporation from a hold rating to a sell rating in a research note on Wednesday, July 12th.
Shares of Artesian Resources Corporation (NASDAQ:ARTNA) traded up 0.23% during mid-day trading on Tuesday, reaching $42.66. The company’s stock had a trading volume of 8,914 shares. The company has a 50 day moving average price of $38.13 and a 200 day moving average price of $37.53. The stock has a market capitalization of $391.96 million, a P/E ratio of 29.22 and a beta of 0.09. Artesian Resources Corporation has a 12 month low of $27.10 and a 12 month high of $43.22.
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A number of institutional investors and hedge funds have recently made changes to their positions in the business. WFG Advisors LP lifted its stake in Artesian Resources Corporation by 9.4% during the second quarter. WFG Advisors LP now owns 144,011 shares of the utilities provider’s stock worth $5,421,000 after purchasing an additional 12,399 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Artesian Resources Corporation by 3.3% during the second quarter. The Manufacturers Life Insurance Company now owns 7,415 shares of the utilities provider’s stock worth $279,000 after purchasing an additional 235 shares during the period. State Street Corp lifted its stake in Artesian Resources Corporation by 5.0% during the second quarter. State Street Corp now owns 181,189 shares of the utilities provider’s stock worth $6,819,000 after purchasing an additional 8,679 shares during the period. Numeric Investors LLC bought a new position in Artesian Resources Corporation during the second quarter worth about $336,000. Finally, Dimensional Fund Advisors LP lifted its stake in Artesian Resources Corporation by 8.5% during the second quarter. Dimensional Fund Advisors LP now owns 217,338 shares of the utilities provider’s stock worth $8,181,000 after purchasing an additional 17,048 shares during the period. Hedge funds and other institutional investors own 39.87% of the company’s stock.
About Artesian Resources Corporation
Artesian Resources Corporation is a holding company. The Company’s subsidiaries offer water, wastewater and other services on the Delmarva Peninsula. The Company distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in the states of Delaware, Maryland and Pennsylvania.
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