Zimmer Partners LP Acquires 10,680 Shares of The York Water Company $YORW

Key Points

• Zimmer Partners LP increased its stake in The York Water Company by 1.4%, now owning approximately 5.26% of the company worth about $26.27 million.
• The York Water Company reported a quarterly earnings increase, posting $0.35 earnings per share, surpassing analysts' expectations.
• A quarterly dividend of $0.2192 per share will be paid on October 15th, with a dividend yield of 2.9% and a payout ratio of 64.23%.

Zimmer Partners LP increased its holdings in shares of The York Water Company (NASDAQ:YORW - Free Report) by 1.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 757,623 shares of the utilities provider's stock after buying an additional 10,680 shares during the quarter. Zimmer Partners LP owned 5.26% of York Water worth $26,274,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Crowley Wealth Management Inc. increased its holdings in York Water by 100.0% during the 1st quarter. Crowley Wealth Management Inc. now owns 1,000 shares of the utilities provider's stock worth $35,000 after purchasing an additional 500 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of York Water by 2.9% in the first quarter. PNC Financial Services Group Inc. now owns 19,120 shares of the utilities provider's stock valued at $663,000 after acquiring an additional 539 shares during the last quarter. Martingale Asset Management L P increased its position in shares of York Water by 3.3% in the first quarter. Martingale Asset Management L P now owns 23,526 shares of the utilities provider's stock valued at $816,000 after acquiring an additional 741 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of York Water by 7.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,539 shares of the utilities provider's stock valued at $345,000 after acquiring an additional 742 shares during the last quarter. Finally, Fulton Bank N.A. increased its position in shares of York Water by 6.0% in the first quarter. Fulton Bank N.A. now owns 17,592 shares of the utilities provider's stock valued at $610,000 after acquiring an additional 992 shares during the last quarter. Institutional investors and hedge funds own 49.86% of the company's stock.

Analysts Set New Price Targets

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

York Water Price Performance

Shares of YORW stock traded down $0.09 during trading on Friday, hitting $30.86. The company had a trading volume of 96,756 shares, compared to its average volume of 81,511. The York Water Company has a one year low of $29.86 and a one year high of $39.79. The firm has a market capitalization of $445.00 million, a P/E ratio of 22.53 and a beta of 0.74. 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 stock's 50-day moving average price is $31.08 and its 200 day moving average price is $32.65.

York Water (NASDAQ:YORW - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The utilities provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. York Water had a net margin of 25.83% and a return on equity of 8.50%. The business had revenue of $19.20 million during the quarter, compared to the consensus estimate of $19.00 million. Equities analysts expect that The York Water Company will post 1.43 EPS for the current fiscal year.

York Water Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.2192 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.88 annualized dividend and a dividend yield of 2.8%. York Water's dividend payout ratio is 64.23%.

York Water Profile

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.