York Water (NASDAQ:YORW) Share Price Breaks Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• York Water shares moved above their 200-day moving average, reaching $31.33 before closing at $30.97, while the 50-day average remains higher at $32.52.
• Analysts maintain a cautious outlook: York Water has a consensus “Hold” rating and a $31.00 average price target, broadly in line with the current share price.
• The company reported stronger-than-expected quarterly results, with EPS of $0.49 versus estimates of $0.40 and revenue of $23.52 million. It also declared a $0.228 quarterly dividend, equivalent to a 2.9% annualized yield.

The York Water Company (NASDAQ:YORW - Get Free Report) shares passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $31.08 and traded as high as $31.33. York Water shares last traded at $30.97, with a volume of 216,439 shares.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on YORW. Weiss Ratings upgraded 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 price target on York Water in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $31.00.

York Water Stock Performance

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 firm has a market cap of $502.64 million, a PE ratio of 19.24 and a beta of 0.56. The stock's 50 day moving average price is $32.52 and its 200 day moving average price is $31.08.

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

York Water Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.2280 per share. This represents a $0.91 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Wednesday, September 30th. York Water's payout ratio is currently 56.52%.

Insider Activity

In other news, CEO Joseph Hand sold 8,000 shares of the stock in a transaction dated Friday, August 14th. The stock was 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 approximately $1,175,050.24. This trade represents a 18.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought a total of 90 shares of company stock valued at $3,011 in the last ninety days. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On York Water

Several hedge funds and other institutional investors have recently bought and sold shares of YORW. Engineers Gate Manager LP grew its position in York Water by 111.0% in the second quarter. Engineers Gate Manager LP now owns 28,479 shares of the utilities provider's stock valued at $873,000 after acquiring an additional 14,983 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of York Water during the second quarter worth $46,000. Baird Financial Group Inc. lifted its position in shares of York Water by 98.8% during the second quarter. Baird Financial Group Inc. now owns 18,312 shares of the utilities provider's stock worth $561,000 after purchasing an additional 9,100 shares in the last quarter. Allworth Financial LP boosted its stake in shares of York Water by 325.6% in the second quarter. Allworth Financial LP now owns 949 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 726 shares during the period. Finally, Penn Capital Management Company LLC boosted its stake in shares of York Water by 9.5% in the second quarter. Penn Capital Management Company LLC now owns 97,796 shares of the utilities provider's stock valued at $2,997,000 after purchasing an additional 8,525 shares during the period. 49.86% of the stock is owned by institutional investors and hedge funds.

About York Water

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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