York Water (NASDAQ:YORW) Stock Breaks Above 200-Day Moving Average - Here's What Happened

Key Points

• York Water shares moved above their 200-day moving average, reaching $31.42 before closing at $30.94. Despite the technical move, analysts maintain a consensus “Hold” rating with a $31.00 price target.
• The company reported stronger-than-expected quarterly results, with earnings per share of $0.49 versus the $0.40 consensus estimate and revenue of $23.52 million compared with expectations of $22.18 million.
• York Water paid a quarterly dividend of $0.228 per share, equivalent to an annualized $0.91 dividend and a 2.9% yield. Institutional investors own nearly 50% of the company, while the CEO recently sold 8,000 shares.

The York Water Company (NASDAQ:YORW - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $31.11 and traded as high as $31.42. York Water shares last traded at $30.94, with a volume of 560,473 shares.

Wall Street Analyst Weigh In

YORW has been the subject of several recent research reports. Cantor Fitzgerald set a $31.00 price target on York Water in a report on Monday, August 10th. Weiss Ratings raised shares of York Water from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Hold rating. According to MarketBeat, York Water currently has a consensus rating of "Hold" and a consensus price target of $31.00.

York Water Trading Up 0.1%

The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 0.88. The business's 50 day moving average price is $32.51 and its 200-day moving average price is $31.11. The firm has a market capitalization of $502.16 million, a price-to-earnings ratio of 19.22 and a beta of 0.56.

York Water (NASDAQ:YORW - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.2280 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.91 annualized dividend and a yield of 2.9%. York Water's payout ratio is presently 56.52%.

Insider Transactions at York Water

In other news, CEO Joseph Hand sold 8,000 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was 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 directly owned 35,308 shares of the company's stock, 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 SEC, which is accessible through this hyperlink. In the last 90 days, insiders purchased 90 shares of company stock worth $3,011. Insiders own 0.50% of the company's stock.

Institutional Trading of York Water

A number of institutional investors have recently modified their holdings of the business. Legal & General Group Plc acquired a new position in York Water during the second quarter worth $9,859,000. Bank of New York Mellon Corp acquired a new stake in York Water in the second quarter valued at $4,714,000. BlackRock Inc. acquired a new stake in York Water in the second quarter valued at $39,283,000. Renaissance Technologies LLC lifted its holdings in York Water by 80.8% in the first quarter. Renaissance Technologies LLC now owns 204,036 shares of the utilities provider's stock valued at $6,213,000 after acquiring an additional 91,200 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in York Water by 36.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 326,730 shares of the utilities provider's stock valued at $9,949,000 after acquiring an additional 86,917 shares during the period. 49.86% of the stock is currently owned by hedge funds and other institutional investors.

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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