The York Water Company (NASDAQ:YORW – Get Free Report) shares passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $31.11 and traded as high as $31.42. York Water shares last traded at $30.94, with a volume of 560,473 shares.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on YORW. Weiss Ratings upgraded York Water from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 3rd. Cantor Fitzgerald set a $31.00 target price on shares of York Water in a report on Monday, August 10th. One analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, York Water presently has a consensus rating of “Hold” and an average target price of $31.00.
Read Our Latest Analysis on York Water
York Water Stock Performance
The firm’s 50 day simple moving average is $32.51 and its 200-day simple moving average is $31.11. The company has a market capitalization of $502.16 million, a price-to-earnings ratio of 19.22 and a beta of 0.56. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.88 and a current ratio of 1.05.
York Water (NASDAQ:YORW – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.09. The business had revenue of $23.52 million for the quarter, compared to the consensus estimate 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 announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.2280 per share. This represents a $0.91 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Wednesday, September 30th. York Water’s payout ratio is 56.52%.
Insiders Place Their Bets
In other news, CEO Joseph Hand sold 8,000 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $33.28, for a total value of $266,240.00. Following the transaction, the chief executive officer owned 35,308 shares in the company, valued at $1,175,050.24. This represents a 18.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders bought 90 shares of company stock worth $3,011. Insiders own 0.50% of the company’s stock.
Institutional Trading of York Water
Institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers lifted its position in York Water by 8.7% in the 1st quarter. Cetera Investment Advisers now owns 8,953 shares of the utilities provider’s stock worth $273,000 after buying an additional 718 shares in the last quarter. Allworth Financial LP boosted its position in York Water by 325.6% during the second quarter. Allworth Financial LP now owns 949 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 726 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in York Water during the second quarter valued at $46,000. Bank of New York Mellon Corp boosted its position in York Water by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 146,209 shares of the utilities provider’s stock valued at $4,452,000 after purchasing an additional 1,849 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in York Water by 3.3% in the first quarter. Bank of America Corp DE now owns 64,179 shares of the utilities provider’s stock valued at $1,954,000 after purchasing an additional 2,066 shares in the last quarter. 49.86% of the stock is currently owned by institutional investors and hedge funds.
About York Water
The York Water Company (NASDAQ:YORW) is a regulated water utility that provides water and wastewater services to residential, commercial, and industrial customers in south-central Pennsylvania. Its operations include the collection, treatment, storage, and distribution of water, as well as wastewater collection and treatment services.
Founded in 1816, York Water is recognized as the oldest continuously operating investor-owned water utility in the United States. The company has expanded its service area over time through infrastructure development and acquisitions, while continuing to focus on maintaining and upgrading its water and wastewater systems.
York Water primarily serves communities in York, Adams, and surrounding counties in Pennsylvania.
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