York Water (NASDAQ:YORW) Issues Quarterly Earnings Results

York Water (NASDAQ:YORW) released its quarterly earnings results on Tuesday. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02, Zacks reports. The company had revenue of $20.07 million during the quarter, compared to the consensus estimate of $20.29 million. York Water had a net margin of 25.89% and a return on equity of 8.49%.

York Water Trading Down 0.1%

York Water stock opened at $29.11 on Wednesday. York Water has a 12 month low of $28.26 and a 12 month high of $35.26. The company has a market capitalization of $471.58 million, a price-to-earnings ratio of 20.94 and a beta of 0.60. The business’s fifty day simple moving average is $31.13 and its two-hundred day simple moving average is $32.04. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 0.92.

York Water Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.228 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.91 dividend on an annualized basis and a yield of 3.1%. York Water’s payout ratio is presently 65.47%.

Insider Activity

In other news, CEO Joseph Thomas Hand purchased 1,052 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The shares were bought at an average price of $28.50 per share, for a total transaction of $29,982.00. Following the purchase, the chief executive officer directly owned 41,332 shares in the company, valued at approximately $1,177,962. This trade represents a 2.61% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders bought 1,556 shares of company stock valued at $44,590. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On York Water

A number of institutional investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its position in York Water by 204.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 194,436 shares of the utilities provider’s stock valued at $5,915,000 after acquiring an additional 130,613 shares in the last quarter. Legal & General Group Plc boosted its position in shares of York Water by 46.1% during the third quarter. Legal & General Group Plc now owns 379,692 shares of the utilities provider’s stock valued at $11,550,000 after buying an additional 119,809 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in York Water by 79.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 154,490 shares of the utilities provider’s stock worth $4,919,000 after buying an additional 68,429 shares in the last quarter. Two Sigma Investments LP increased its holdings in York Water by 66.1% in the 3rd quarter. Two Sigma Investments LP now owns 131,581 shares of the utilities provider’s stock worth $4,003,000 after buying an additional 52,376 shares in the last quarter. Finally, Invesco Ltd. raised its position in York Water by 33.4% in the 3rd quarter. Invesco Ltd. now owns 112,260 shares of the utilities provider’s stock worth $3,415,000 after buying an additional 28,126 shares during the last quarter. Hedge funds and other institutional investors own 49.86% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded York Water from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, York Water presently has an average rating of “Hold”.

York Water Company Profile

York Water Company (NASDAQ: YORW) is an investor-owned regulated water utility headquartered in York, Pennsylvania. Founded in 1816, it is the oldest publicly traded water utility in the United States. The company’s principal operations involve the collection, treatment and distribution of potable water to residential, commercial and industrial customers under rate schedules approved by the Pennsylvania Public Utility Commission.

York Water Company’s service territory covers portions of south-central Pennsylvania, including York County and neighboring Adams and Franklin counties.