York Water (NASDAQ:YORW) Stock Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• York Water shares crossed above their 200-day moving average, reaching $33.55 and last trading at $33.06 versus the $31.16 average. The stock has a consensus “Hold” rating and an average analyst price target of $31.
• The company exceeded quarterly expectations, reporting earnings per share of $0.49 versus the $0.40 consensus and revenue of $23.52 million compared with estimates of $22.18 million.
• York Water declared a quarterly dividend of $0.228 per share, equivalent to an annualized $0.91 and a 2.8% yield. Institutional ownership stands at 49.86%, while the CEO recently sold 8,000 shares.

Shares of The York Water Company (NASDAQ:YORW - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $31.16 and traded as high as $33.55. York Water shares last traded at $33.06, with a volume of 160,804 shares.

Analysts Set New Price Targets

Several brokerages recently weighed in on YORW. 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 target on shares of York Water in a research note on Monday, August 10th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $31.00.

York Water Trading Down 0.3%

The business's 50 day moving average is $32.37 and its two-hundred day moving average is $31.16. The company has a quick ratio of 0.88, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $536.56 million, a P/E ratio of 20.53 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.09. The firm had revenue of $23.52 million during the quarter, compared to analyst estimates 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.228 per share. This represents a $0.91 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Wednesday, September 30th. York Water's dividend payout ratio (DPR) is currently 56.52%.

Insider Activity at York Water

In related news, CEO Joseph Hand sold 8,000 shares of the business's 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 sale, the chief executive officer owned 35,308 shares of the company's stock, valued at $1,175,050.24. The trade was a 18.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased a total of 85 shares of company stock worth $2,760 in the last quarter. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On York Water

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in shares of York Water by 80.8% in the 1st quarter. Renaissance Technologies LLC now owns 204,036 shares of the utilities provider's stock worth $6,213,000 after buying an additional 91,200 shares in the last quarter. Bank of New York Mellon Corp bought a new position in York Water during the second quarter valued at about $4,714,000. Arrowstreet Capital Limited Partnership boosted its stake in York Water by 36.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 326,730 shares of the utilities provider's stock valued at $9,949,000 after buying an additional 86,917 shares in the last quarter. BlackRock Inc. acquired a new position in York Water during the second quarter worth about $39,283,000. Finally, Legal & General Group Plc acquired a new position in York Water during the second quarter worth about $9,859,000. 49.86% of the stock is owned by 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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