The York Water Company (NASDAQ:YORW – Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $31.14 and traded as high as $32.54. York Water shares last traded at $31.59, with a volume of 117,849 shares traded.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. Weiss Ratings raised York Water from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. Cantor Fitzgerald set a $31.00 price objective on York Water in a research note on Monday, August 10th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $31.00.
Check Out Our Latest Research Report on York Water
York Water Trading Down 0.6%
York Water (NASDAQ:YORW – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.09. The firm had revenue of $23.52 million during the quarter, compared to analyst estimates of $22.18 million. York Water had a return on equity of 9.38% and a net margin of 28.53%.
York Water Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.2280 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.91 annualized dividend and a yield of 3.0%. York Water’s payout ratio is 56.52%.
Insider Activity
In other news, CEO Joseph Hand sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $33.28, for a total transaction of $266,240.00. Following the completion of the sale, the chief executive officer owned 35,308 shares of the company’s stock, valued at $1,175,050.24. This trade represents a 18.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders purchased 90 shares of company stock worth $3,011. 0.50% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Engineers Gate Manager LP grew its holdings in York Water by 111.0% in the second quarter. Engineers Gate Manager LP now owns 28,479 shares of the utilities provider’s stock worth $873,000 after purchasing an additional 14,983 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of York Water during the 2nd quarter worth about $46,000. Baird Financial Group Inc. boosted its position in shares of York Water by 98.8% during the 2nd quarter. Baird Financial Group Inc. now owns 18,312 shares of the utilities provider’s stock worth $561,000 after purchasing an additional 9,100 shares in the last quarter. Allworth Financial LP grew its stake in shares of York Water by 325.6% in the 2nd quarter. Allworth Financial LP now owns 949 shares of the utilities provider’s stock valued at $29,000 after buying an additional 726 shares during the period. Finally, Penn Capital Management Company LLC grew its stake in shares of York Water by 9.5% in the 2nd quarter. Penn Capital Management Company LLC now owns 97,796 shares of the utilities provider’s stock valued at $2,997,000 after buying an additional 8,525 shares during the period. 49.86% of the stock is owned by institutional investors.
About York Water
The York Water Company (NASDAQ:YORW) is a regulated public utility that provides water and wastewater services in south-central Pennsylvania. Its operations include the collection, treatment, distribution and sale of potable water, along with wastewater collection and treatment services for residential, commercial, industrial and municipal customers.
Founded in 1816, York Water is one of the oldest investor-owned water utilities in the United States. The company owns and operates water systems, treatment facilities, reservoirs, wells and distribution infrastructure designed to deliver reliable service and support communities throughout its service territory.
York Water primarily serves customers in York, Adams and Franklin counties in Pennsylvania.
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