Jacobi Capital Management LLC Reduces Position in Artesian Resources Co. (NASDAQ:ARTNA)

Jacobi Capital Management LLC decreased its position in shares of Artesian Resources Co. (NASDAQ:ARTNA) by 21.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,035 shares of the utilities provider’s stock after selling 2,236 shares during the quarter. Jacobi Capital Management LLC owned approximately 0.08% of Artesian Resources worth $254,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Foundry Partners LLC lifted its stake in shares of Artesian Resources by 12.2% during the 3rd quarter. Foundry Partners LLC now owns 143,470 shares of the utilities provider’s stock valued at $5,334,000 after buying an additional 15,580 shares in the last quarter. Geode Capital Management LLC increased its holdings in Artesian Resources by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 110,317 shares of the utilities provider’s stock valued at $4,104,000 after acquiring an additional 2,225 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Artesian Resources by 169.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,035 shares of the utilities provider’s stock valued at $596,000 after acquiring an additional 10,089 shares during the last quarter. State Street Corp increased its holdings in Artesian Resources by 0.6% in the 3rd quarter. State Street Corp now owns 66,146 shares of the utilities provider’s stock valued at $2,459,000 after acquiring an additional 384 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in Artesian Resources in the 3rd quarter valued at $289,000. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Artesian Resources Stock Performance

Shares of NASDAQ ARTNA opened at $32.04 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.07 and a current ratio of 1.22. The company has a market cap of $329.95 million, a P/E ratio of 16.43 and a beta of 0.23. The firm’s fifty day moving average is $31.11 and its two-hundred day moving average is $33.83. Artesian Resources Co. has a 52-week low of $29.45 and a 52-week high of $41.29.

Artesian Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a $0.3014 dividend. This is an increase from Artesian Resources’s previous quarterly dividend of $0.30. This represents a $1.21 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend was Friday, February 7th. Artesian Resources’s payout ratio is currently 61.54%.

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.