Short Interest in The York Water Company (NASDAQ:YORW) Decreases By 22.9%

Key Points

• Short interest fell 22.9% to 378,709 shares as of March 31, equal to 2.6% of shares short and a days-to-cover ratio of about 1.4 days.
• York Water beat quarterly EPS estimates ($0.36 vs. $0.32) while revenue slightly missed, and declared a quarterly dividend of $0.228 (annualized $0.91) for a 2.9% yield and a payout ratio of 65.47%.
• Institutional investors own roughly 49.86% of the company and several hedge funds recently increased stakes; the stock has a market cap of about $454M and carries a consensus analyst rating of "Hold."

The York Water Company (NASDAQ:YORW - Get Free Report) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totaling 378,709 shares, a decrease of 22.9% from the March 15th total of 491,001 shares. Based on an average daily trading volume, of 263,596 shares, the days-to-cover ratio is currently 1.4 days. Currently, 2.6% of the company's shares are short sold.

Institutional Investors Weigh In On York Water

A number of hedge funds have recently modified their holdings of YORW. Versant Capital Management Inc raised its position in shares of York Water by 290.7% during the third quarter. Versant Capital Management Inc now owns 922 shares of the utilities provider's stock worth $28,000 after purchasing an additional 686 shares during the period. Advisory Services Network LLC acquired a new stake in shares of York Water during the third quarter worth about $31,000. Parallel Advisors LLC raised its position in shares of York Water by 589.5% during the third quarter. Parallel Advisors LLC now owns 1,179 shares of the utilities provider's stock worth $36,000 after purchasing an additional 1,008 shares during the period. Farther Finance Advisors LLC raised its position in shares of York Water by 62.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,148 shares of the utilities provider's stock worth $37,000 after purchasing an additional 441 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of York Water by 211.4% during the fourth quarter. GAMMA Investing LLC now owns 1,367 shares of the utilities provider's stock worth $44,000 after purchasing an additional 928 shares during the period. Institutional investors and hedge funds own 49.86% of the company's stock.

York Water Trading Up 0.2%

NASDAQ YORW opened at $31.45 on Wednesday. The firm has a market cap of $454.45 million, a P/E ratio of 22.63 and a beta of 0.70. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.67 and a quick ratio of 0.55. The stock's 50-day moving average is $31.89 and its 200-day moving average is $32.11. York Water has a one year low of $29.68 and a one year high of $36.48.

York Water (NASDAQ:YORW - Get Free Report) last released its quarterly earnings results on Tuesday, March 3rd. The utilities provider reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.04. The company had revenue of $19.47 million for the quarter, compared to analyst estimates of $20.00 million. York Water had a return on equity of 8.49% and a net margin of 25.89%. Sell-side analysts anticipate that York Water will post 1.43 earnings per share for the current fiscal year.

York Water Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, February 27th will be given a dividend of $0.228 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.91 dividend on an annualized basis and a dividend yield of 2.9%. York Water's dividend payout ratio (DPR) is currently 65.47%.

Wall Street Analyst Weigh In

YORW has been the topic of several analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of York Water in a research note on Monday, December 29th. Wall Street Zen raised York Water from a "sell" rating to a "hold" rating in a research note on Saturday, February 21st. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of "Hold".

About York Water

York Water Company NASDAQ: YORW is an investor-owned regulated water utility headquartered in York, Pennsylvania. Founded in 1816, it is the oldest publicly traded water utility in the United States. The company's principal operations involve the collection, treatment and distribution of potable water to residential, commercial and industrial customers under rate schedules approved by the Pennsylvania Public Utility Commission.

York Water Company's service territory covers portions of south-central Pennsylvania, including York County and neighboring Adams and Franklin counties.

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