BlackRock Inc. purchased a new position in shares of The York Water Company (NASDAQ:YORW - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,281,673 shares of the utilities provider's stock, valued at approximately $39,283,000. BlackRock Inc. owned approximately 7.91% of York Water as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of YORW. Renaissance Technologies LLC lifted its position in shares of York Water by 80.8% during the 1st quarter. Renaissance Technologies LLC now owns 204,036 shares of the utilities provider's stock worth $6,213,000 after purchasing an additional 91,200 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of York Water by 36.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 326,730 shares of the utilities provider's stock worth $9,949,000 after purchasing an additional 86,917 shares in the last quarter. John G Ullman & Associates Inc. purchased a new position in York Water in the fourth quarter valued at $1,180,000. CenterBook Partners LP increased its holdings in York Water by 156.1% in the fourth quarter. CenterBook Partners LP now owns 88,060 shares of the utilities provider's stock valued at $2,804,000 after buying an additional 53,677 shares during the last quarter. Finally, Inspire Investing LLC raised its stake in York Water by 14.7% in the first quarter. Inspire Investing LLC now owns 16,853 shares of the utilities provider's stock valued at $513,000 after buying an additional 2,154 shares in the last quarter. 49.86% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CEO Joseph Thomas Hand sold 8,000 shares of the company's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $33.28, for a total value of $266,240.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have acquired 85 shares of company stock valued at $2,760. 0.50% of the stock is owned by corporate insiders.
Analyst Ratings Changes
YORW has been the subject of a number of recent analyst reports. Cantor Fitzgerald set a $31.00 price target on York Water in a report on Monday, August 10th. Weiss Ratings upgraded York Water from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $31.00.
Check Out Our Latest Stock Analysis on YORW
York Water Stock Performance
Shares of YORW stock opened at $34.13 on Wednesday. The stock's 50-day moving average is $31.85 and its two-hundred day moving average is $31.12. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.88 and a current ratio of 1.05. The York Water Company has a 1 year low of $28.26 and a 1 year high of $34.81. The firm has a market cap of $553.93 million, a price-to-earnings ratio of 21.20 and a beta of 0.60.
York Water (NASDAQ:YORW - Get Free Report) last posted its earnings results on Thursday, August 6th. The utilities provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.09. The business had revenue of $23.52 million during 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 Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.228 dividend. This represents a $0.91 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, September 30th. York Water's payout ratio is presently 56.52%.
About York Water
(
Free Report)
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.
See Also
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