Penn Mutual Asset Management Has $642,000 Holdings in The York Water Company $YORW

Key Points

• Penn Mutual Asset Management increased its stake in The York Water Company by 146.7%, acquiring an additional 11,000 shares and now holding a total of 18,500 shares.
• York Water reported $0.35 earnings per share for the last quarter, surpassing analyst expectations of $0.33, with revenues of $19.20 million.
• Institutional investors own approximately 49.86% of York Water's stock, indicating significant interest from larger investment funds.

Penn Mutual Asset Management raised its stake in The York Water Company (NASDAQ:YORW - Free Report) by 146.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 18,500 shares of the utilities provider's stock after buying an additional 11,000 shares during the quarter. York Water makes up about 1.2% of Penn Mutual Asset Management's investment portfolio, making the stock its 20th largest holding. Penn Mutual Asset Management owned about 0.13% of York Water worth $642,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in YORW. Nuveen LLC bought a new stake in York Water in the first quarter valued at $2,349,000. ProShare Advisors LLC lifted its stake in York Water by 21.6% in the fourth quarter. ProShare Advisors LLC now owns 226,339 shares of the utilities provider's stock valued at $7,406,000 after buying an additional 40,199 shares during the last quarter. Zimmer Partners LP lifted its stake in York Water by 5.2% in the fourth quarter. Zimmer Partners LP now owns 746,943 shares of the utilities provider's stock valued at $24,440,000 after buying an additional 37,076 shares during the last quarter. CenterBook Partners LP increased its holdings in shares of York Water by 172.3% during the first quarter. CenterBook Partners LP now owns 58,365 shares of the utilities provider's stock valued at $2,024,000 after purchasing an additional 36,932 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of York Water by 36.8% during the first quarter. Invesco Ltd. now owns 85,086 shares of the utilities provider's stock valued at $2,951,000 after purchasing an additional 22,866 shares during the period. 49.86% of the stock is currently owned by institutional investors.

York Water Trading Up 2.0%

Shares of NASDAQ:YORW traded up $0.6150 during midday trading on Friday, reaching $31.6750. The company had a trading volume of 38,825 shares, compared to its average volume of 77,641. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.80 and a current ratio of 1.00. The York Water Company has a 1-year low of $29.86 and a 1-year high of $39.79. The firm has a market cap of $456.75 million, a price-to-earnings ratio of 23.12 and a beta of 0.71. The company has a fifty day simple moving average of $31.44 and a two-hundred day simple moving average of $32.81.

York Water (NASDAQ:YORW - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The utilities provider reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.02. York Water had a return on equity of 8.50% and a net margin of 25.83%.The business had revenue of $19.20 million during the quarter, compared to analyst estimates of $19.00 million. Research analysts predict that The York Water Company will post 1.43 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered York Water from a "hold" rating to a "sell" rating in a report on Saturday, July 5th.

About York Water

The York Water Company impounds, purifies, and distributes drinking water. It owns and operates three wastewater collection systems; ten wastewater collection and treatment systems; and two reservoirs, including Lake Williams and Lake Redman, which hold approximately 2.2 billion gallons of water. The company also operates a 15-mile pipeline from the Susquehanna River to Lake Redman; and owns satellite groundwater systems in York, Adams, and Lancaster Counties, as well as two impounding dams on primary system located in York and Springfield Townships.