Bank of New York Mellon Corp Buys Shares of 153,816 The York Water Company $YORW

Key Points

• Bank of New York Mellon bought 153,816 shares of York Water in the second quarter, valued at approximately $4.7 million and representing about 0.95% of the company. Institutional investors collectively own 49.86% of the stock.
• York Water reported quarterly EPS of $0.49, beating analyst expectations of $0.40, while revenue reached $23.52 million versus the $22.18 million consensus estimate.
• The company declared a quarterly dividend of $0.228, equivalent to an annualized $0.91 payout and a 2.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $31, below the reported $34.05 share price.

Bank of New York Mellon Corp bought a new position in The York Water Company (NASDAQ:YORW - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 153,816 shares of the utilities provider's stock, valued at approximately $4,714,000. Bank of New York Mellon Corp owned about 0.95% of York Water at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. grew its holdings in York Water by 4.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,572 shares of the utilities provider's stock worth $271,000 after buying an additional 327 shares in the last quarter. Cullen Capital Management LLC raised its stake in York Water by 3.8% during the 4th quarter. Cullen Capital Management LLC now owns 10,868 shares of the utilities provider's stock valued at $346,000 after acquiring an additional 393 shares in the last quarter. Farther Finance Advisors LLC boosted its position in York Water by 62.4% during the 4th quarter. Farther Finance Advisors LLC now owns 1,148 shares of the utilities provider's stock worth $37,000 after acquiring an additional 441 shares during the period. Janney Montgomery Scott LLC boosted its position in York Water by 4.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 10,676 shares of the utilities provider's stock worth $340,000 after acquiring an additional 487 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of York Water by 2.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 23,071 shares of the utilities provider's stock worth $735,000 after purchasing an additional 526 shares in the last quarter. Institutional investors own 49.86% of the company's stock.

York Water Price Performance

Shares of NASDAQ YORW opened at $34.05 on Friday. The York Water Company has a twelve month low of $28.26 and a twelve month high of $34.81. The company has a current ratio of 1.05, a quick ratio of 0.88 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $552.60 million, a price-to-earnings ratio of 21.15 and a beta of 0.60. The firm has a 50-day moving average of $32.06 and a two-hundred day moving average of $31.15.

York Water (NASDAQ:YORW - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.09. York Water had a net margin of 28.53% and a return on equity of 9.38%. The company had revenue of $23.52 million for the quarter, compared to analysts' expectations of $22.18 million.

York Water Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.228 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.91 annualized dividend and a dividend yield of 2.7%. York Water's dividend payout ratio is currently 56.52%.

Insider Activity

In other news, CEO Joseph Hand sold 8,000 shares of the stock in a transaction on Friday, August 14th. The stock was 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 in the company, valued at approximately $1,175,050.24. This represents a 18.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired a total of 85 shares of company stock valued at $2,760 over the last quarter. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Weiss Ratings raised 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 research report on Monday, August 10th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $31.00.

York Water 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.

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