York Water (NASDAQ:YORW) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• York Water shares rose above their 200-day moving average of $31.14, reaching as high as $32.54 before last trading at $31.59.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and a $31.00 price target, despite Weiss Ratings upgrading its assessment from “hold (c-)” to “hold (c).”
• The utility exceeded quarterly expectations, reporting $0.49 in earnings per share and $23.52 million in revenue, and declared a quarterly dividend of $0.228, equivalent to a 2.9% annual yield.

The York Water Company (NASDAQ:YORW - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $31.14 and traded as high as $32.54. York Water shares last traded at $31.59, with a volume of 117,849 shares changing hands.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Weiss Ratings upgraded shares of York Water from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, August 3rd. Cantor Fitzgerald set a $31.00 price objective on shares of York Water in a research report on Monday, August 10th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, York Water currently has a consensus rating of "Hold" and a consensus target price of $31.00.

York Water Trading Down 1.9%

The company has a 50 day simple moving average of $32.61 and a 200 day simple moving average of $31.14. 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 stock has a market capitalization of $512.71 million, a PE ratio of 19.62 and a beta of 0.60.

York Water (NASDAQ:YORW - Get Free Report) last announced its earnings results 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. York Water had a return on equity of 9.38% and a net margin of 28.53%.The company had revenue of $23.52 million for the quarter, compared to the consensus estimate of $22.18 million.

York Water Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.228 dividend. This represents a $0.91 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Wednesday, September 30th. York Water's dividend payout ratio (DPR) is 56.52%.

Insider Transactions at York Water

In other York Water news, CEO Joseph Hand sold 8,000 shares of the company's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $33.28, for a total transaction of $266,240.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have acquired 90 shares of company stock valued at $3,011. Insiders own 0.50% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in YORW. Engineers Gate Manager LP lifted 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 purchasing an additional 14,983 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of York Water during the 2nd quarter worth approximately $46,000. Baird Financial Group Inc. raised its stake in shares of York Water by 98.8% during the 2nd quarter. Baird Financial Group Inc. now owns 18,312 shares of the utilities provider's stock worth $561,000 after buying an additional 9,100 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of York Water by 325.6% in the 2nd quarter. Allworth Financial LP now owns 949 shares of the utilities provider's stock valued at $29,000 after buying 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 buying an additional 8,525 shares in the last quarter. 49.86% of the stock is owned by hedge funds and other institutional investors.

York Water Company Profile

The York Water Company NASDAQ: YORW is a regulated public utility that provides water and wastewater services in south-central Pennsylvania. Its operations include the collection, treatment, distribution and sale of potable water, along with wastewater collection and treatment services for residential, commercial, industrial and municipal customers.

Founded in 1816, York Water is one of the oldest investor-owned water utilities in the United States. The company owns and operates water systems, treatment facilities, reservoirs, wells and distribution infrastructure designed to deliver reliable service and support communities throughout its service territory.

York Water primarily serves customers in York, Adams and Franklin counties in Pennsylvania.

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