York Water (NASDAQ:YORW) Releases Earnings Results, Beats Expectations By $0.09 EPS

York Water (NASDAQ:YORW) issued its quarterly earnings results on Thursday. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.09, FiscalAI reports. York Water had a net margin of 26.84% and a return on equity of 8.89%. The company had revenue of $23.52 million during the quarter, compared to analyst estimates of $22.18 million.

York Water Stock Up 2.6%

NASDAQ:YORW traded up $0.79 during trading hours on Thursday, reaching $31.61. 150,251 shares of the company traded hands, compared to its average volume of 139,443. The company has a current ratio of 0.72, a quick ratio of 0.60 and a debt-to-equity ratio of 0.94. The business’s 50-day moving average price is $30.49 and its two-hundred day moving average price is $31.07. York Water has a 1 year low of $28.26 and a 1 year high of $34.30. The stock has a market capitalization of $512.37 million, a P/E ratio of 21.50 and a beta of 0.60.

Hedge Funds Weigh In On York Water

Institutional investors and hedge funds have recently modified their holdings of the stock. 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 stake in York Water by 46.1% during the 3rd quarter. Legal & General Group Plc now owns 379,692 shares of the utilities provider’s stock valued at $11,550,000 after purchasing an additional 119,809 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of 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 purchasing an additional 68,429 shares in the last quarter. Two Sigma Investments LP increased its holdings in shares of 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 purchasing an additional 52,376 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of York Water by 33.4% in the third quarter. Invesco Ltd. now owns 112,260 shares of the utilities provider’s stock worth $3,415,000 after purchasing an additional 28,126 shares during the last quarter. 49.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of York Water from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

About York Water

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.