York Water (NASDAQ:YORW) Stock Price Crosses Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• York Water shares fell below their 200-day moving average, reaching $31.13 and last trading at $31.26 versus the average of $31.47. Analysts maintain a “Hold” consensus with a $31.00 price target.
• The company exceeded quarterly expectations, reporting EPS of $0.49 versus the $0.40 estimate and revenue of $23.52 million. It also declared a quarterly dividend of $0.228, representing a 2.9% yield.
• Institutional ownership stands at 49.86%, with major investors including BlackRock, Legal & General, and Bank of New York Mellon. Insider activity was mixed: the CEO sold shares, while a director purchased 1,288 shares.

The York Water Company (NASDAQ:YORW - Get Free Report) shares crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $31.47 and traded as low as $31.13. York Water shares last traded at $31.26, with a volume of 88,333 shares trading hands.

Wall Street Analysts Forecast Growth

YORW has been the topic of a number of research reports. Weiss Ratings upgraded York Water from a "hold (c-)" rating to a "hold (c)" rating in a research note 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 equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $31.00.

York Water Stock Performance

The firm has a market capitalization of $507.32 million, a PE ratio of 19.42 and a beta of 0.56. The stock's 50 day moving average price is $32.23 and its two-hundred day moving average price is $31.47. The company has a current ratio of 1.05, a quick ratio of 0.88 and a debt-to-equity ratio of 0.64.

York Water (NASDAQ:YORW - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.49 earnings per share (EPS) 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 business had revenue of $23.52 million for the quarter, compared to the consensus estimate of $22.18 million.

York Water Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a $0.2280 dividend. 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 56.52%.

Insider Buying and Selling at York Water

In related 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 transaction of $266,240.00. Following the transaction, the chief executive officer directly owned 35,308 shares in the company, valued at approximately $1,175,050.24. This represents a 18.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David M. Velazquez acquired 1,288 shares of the business's stock in a transaction dated 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 completion of the acquisition, the director owned 1,288 shares in the company, valued at approximately $40,018.16. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 1,410 shares of company stock valued at $44,024 over the last quarter. Insiders own 0.50% of the company's stock.

Hedge Funds Weigh In On York Water

Several institutional investors and hedge funds have recently bought and sold shares of YORW. BlackRock Inc. acquired a new position in York Water in the second quarter valued at $39,283,000. Legal & General Group Plc purchased a new stake in York Water during the second quarter valued at about $9,859,000. Bank of New York Mellon Corp purchased a new stake in York Water during the second quarter valued at about $4,714,000. Renaissance Technologies LLC grew its position in York Water by 80.8% during 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 increased 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 worth $9,949,000 after acquiring an additional 86,917 shares during the last quarter. Institutional investors and hedge funds own 49.86% of the company's stock.

About York Water

The York Water Company NASDAQ: YORW is a regulated water utility serving communities in south-central Pennsylvania. The company provides residential, commercial and industrial customers with treated drinking water through a network of reservoirs, treatment facilities, pipelines and distribution infrastructure.

In addition to its water operations, York Water provides wastewater collection and related services in portions of its service territory. Its operations primarily cover York County and extend into surrounding areas, including parts of Adams and Franklin counties.

Founded in 1816, York Water is recognized as one of the oldest investor-owned water utilities in the United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.