York Water (NASDAQ:YORW) Director Purchases 1,288 Shares of Stock

Key Points

• Director David Velazquez purchased 1,288 York Water shares at an average price of $31.07, investing approximately $40,018 and establishing a direct stake of the same size.
• York Water shares recently traded at $30.84, with the company valued at about $500.6 million. The stock has a 3.0% dividend yield, while its latest quarterly results exceeded expectations with earnings of $0.49 per share and revenue of $23.52 million.
• Analysts maintain a consensus “Hold” rating with a $31.00 price target, and institutional investors own approximately 49.86% of the company.

The York Water Company (NASDAQ:YORW - Get Free Report) Director David Velazquez bought 1,288 shares of the stock in a transaction on Tuesday, October 20th. The shares were bought at an average price of $31.07 per share, for a total transaction of $40,018.16. Following the purchase, the director directly owned 1,288 shares in the company, valued at approximately $40,018.16. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

York Water Stock Performance

Shares of YORW stock traded up $0.10 during trading hours on Wednesday, reaching $30.84. The company had a trading volume of 52,092 shares, compared to its average volume of 142,150. The business has a fifty day moving average price of $32.44 and a 200-day moving average price of $31.11. The York Water Company has a one year low of $28.26 and a one year high of $34.81. The firm has a market cap of $500.61 million, a PE ratio of 19.16 and a beta of 0.56. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.88 and a current ratio of 1.05.

York Water (NASDAQ:YORW - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $23.52 million during the quarter, compared to analysts' expectations of $22.18 million. York Water had a net margin of 28.53% and a return on equity of 9.38%.

York Water Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.2280 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.91 dividend on an annualized basis and a yield of 3.0%. York Water's payout ratio is currently 56.52%.

Analysts Set New Price Targets

Several brokerages have issued reports on YORW. Cantor Fitzgerald set a $31.00 target price on York Water in a research report on Monday, August 10th. Weiss Ratings raised shares of York Water from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $31.00.

Institutional Investors Weigh In On York Water

Several hedge funds and other institutional investors have recently modified their holdings of YORW. Cetera Investment Advisers raised its stake in shares of York Water by 8.7% in the first quarter. Cetera Investment Advisers now owns 8,953 shares of the utilities provider's stock valued at $273,000 after acquiring an additional 718 shares during the period. Allworth Financial LP lifted its stake in York Water by 325.6% in the second quarter. Allworth Financial LP now owns 949 shares of the utilities provider's stock worth $29,000 after purchasing an additional 726 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in York Water in the second quarter worth about $46,000. Bank of New York Mellon Corp boosted its position in shares of York Water by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 146,209 shares of the utilities provider's stock valued at $4,452,000 after buying an additional 1,849 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of York Water by 3.3% during the first quarter. Bank of America Corp DE now owns 64,179 shares of the utilities provider's stock valued at $1,954,000 after buying an additional 2,066 shares during the period. 49.86% of the stock is currently owned by hedge funds and other institutional investors.

York Water Company Profile

The York Water Company NASDAQ: YORW is a regulated water utility that provides water and wastewater services to residential, commercial, and industrial customers in south-central Pennsylvania. Its operations include the collection, treatment, storage, and distribution of water, as well as wastewater collection and treatment services.

Founded in 1816, York Water is recognized as the oldest continuously operating investor-owned water utility in the United States. The company has expanded its service area over time through infrastructure development and acquisitions, while continuing to focus on maintaining and upgrading its water and wastewater systems.

York Water primarily serves communities in York, Adams, and surrounding counties in Pennsylvania.

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