Renaissance Technologies LLC increased its position in shares of Artesian Resources Co. (NASDAQ:ARTNA) by 9.0% during the fourth quarter, Holdings Channel reports. The firm owned 265,300 shares of the company’s stock after buying an additional 21,900 shares during the period. Renaissance Technologies LLC’s holdings in Artesian Resources were worth $8,474,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. FCA Corp TX increased its position in shares of Artesian Resources by 4.9% in the third quarter. FCA Corp TX now owns 77,524 shares of the company’s stock valued at $2,213,000 after buying an additional 3,650 shares during the last quarter. Cutter & CO Brokerage Inc. acquired a new position in shares of Artesian Resources during the fourth quarter valued at approximately $3,151,000. PNC Financial Services Group Inc. increased its position in shares of Artesian Resources by 27.3% in the third quarter. PNC Financial Services Group Inc. now owns 10,515 shares of the company’s stock valued at $300,000 after buying an additional 2,253 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Artesian Resources by 0.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 10,044 shares of the company’s stock valued at $321,000 after buying an additional 29 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Artesian Resources by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 192,170 shares of the company’s stock valued at $6,138,000 after buying an additional 7,779 shares during the last quarter. 37.21% of the stock is owned by institutional investors and hedge funds.
Artesian Resources Co. (NASDAQ:ARTNA) opened at 32.38 on Friday. The firm has a market cap of $295.69 million, a P/E ratio of 22.96 and a beta of 0.17. Artesian Resources Co. has a 52 week low of $25.72 and a 52 week high of $35.00. The firm’s 50-day moving average price is $32.20 and its 200 day moving average price is $30.50.
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Several brokerages have commented on ARTNA. Zacks Investment Research raised Artesian Resources from a “hold” rating to a “strong-buy” rating and set a $35.00 target price for the company in a research note on Thursday, February 9th. Hilliard Lyons raised Artesian Resources from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 17th.
In other news, insider Dian C. Taylor sold 6,750 shares of the stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $33.10, for a total transaction of $223,425.00. Following the completion of the transaction, the insider now owns 98,200 shares in the company, valued at approximately $3,250,420. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth R. Biederman sold 1,750 shares of the stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $33.48, for a total value of $58,590.00. Following the transaction, the director now owns 21,625 shares of the company’s stock, valued at approximately $724,005. The disclosure for this sale can be found here. Insiders have sold a total of 11,500 shares of company stock valued at $376,845 in the last quarter. 20.59% of the stock is owned by corporate insiders.
About Artesian Resources
Artesian Resources Corporation is a holding company. The Company, through its subsidiaries, offers water, wastewater and other services on the Delmarva Peninsula. It distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in Delaware, Maryland and Pennsylvania.
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