The York Water (NASDAQ:YORW) Downgraded to “Hold” at Zacks Investment Research

The York Water (NASDAQ:YORW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “The York Water Company impounds, purifies and distributes water. They are regulated by the Pennsylvania Public Utility Commission in the areas of billing, payment procedures, dispute processing, terminations, service territory, and rate setting. They must obtain PPUC approval before changing any of the aforementioned procedures. “

NASDAQ:YORW opened at $48.59 on Thursday. The firm has a market cap of $634.73 million, a PE ratio of 39.19 and a beta of 0.14. The York Water has a fifty-two week low of $39.50 and a fifty-two week high of $51.90. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.56 and a current ratio of 0.63. The business has a 50 day moving average price of $46.09 and a 200-day moving average price of $45.60.

The York Water (NASDAQ:YORW) last released its quarterly earnings data on Monday, March 8th. The utilities provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The firm had revenue of $13.40 million during the quarter, compared to analyst estimates of $13.00 million. The York Water had a return on equity of 11.88% and a net margin of 30.35%. Research analysts predict that The York Water will post 1.24 EPS for the current year.

Several large investors have recently added to or reduced their stakes in YORW. BlackRock Inc. boosted its stake in shares of The York Water by 5.8% during the fourth quarter. BlackRock Inc. now owns 1,050,261 shares of the utilities provider’s stock valued at $48,942,000 after purchasing an additional 57,373 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in The York Water by 160.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 84,798 shares of the utilities provider’s stock worth $3,585,000 after acquiring an additional 52,234 shares during the period. JPMorgan Chase & Co. lifted its position in The York Water by 173.1% during the fourth quarter. JPMorgan Chase & Co. now owns 38,877 shares of the utilities provider’s stock valued at $1,812,000 after buying an additional 24,644 shares during the period. ProShare Advisors LLC lifted its position in The York Water by 13.2% during the fourth quarter. ProShare Advisors LLC now owns 193,579 shares of the utilities provider’s stock valued at $9,021,000 after buying an additional 22,636 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of The York Water during the third quarter valued at $794,000. 42.36% of the stock is owned by hedge funds and other institutional investors.

The York Water Company Profile

The York Water Company impounds, purifies, and distributes drinking water. It owns and operates two wastewater collection systems; five wastewater collection and treatment systems; and two reservoirs, including Lake Williams and Lake Redman, which hold approximately 2.2 billion gallons of water. The company also operates a 15-mile pipeline from the Susquehanna River to Lake Redman; and owns nine groundwater wells that supply water to customers in the Adams County.

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