The York Water Company (NASDAQ:YORW) Sees Large Growth in Short Interest

Key Points

• The York Water Company experienced a significant increase in short interest, rising by 1,913.7% in July, with a total of 294,000 shares shorted as of July 15th.
• Analysts have downgraded York Water from a "hold" rating to a "sell" rating, indicating a shift in market sentiment regarding the stock.
• York Water recently declared a quarterly dividend of $0.2192 per share, representing an annualized dividend yield of 2.8%.

The York Water Company (NASDAQ:YORW - Get Free Report) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 294,000 shares, anincreaseof1,913.7% from the June 30th total of 14,600 shares. Based on an average daily volume of 80,000 shares, the days-to-cover ratio is presently 3.7 days. Based on an average daily volume of 80,000 shares, the days-to-cover ratio is presently 3.7 days.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded York Water from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th.

Institutional Investors Weigh In On York Water

Hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC purchased a new stake in shares of York Water during the 4th quarter worth $349,000. GAMMA Investing LLC raised its stake in York Water by 12,413.5% in the first quarter. GAMMA Investing LLC now owns 9,260 shares of the utilities provider's stock valued at $321,000 after buying an additional 9,186 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of York Water in the fourth quarter worth about $509,000. Two Sigma Investments LP raised its stake in shares of York Water by 22.4% in the fourth quarter. Two Sigma Investments LP now owns 46,984 shares of the utilities provider's stock worth $1,537,000 after purchasing an additional 8,596 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of York Water by 32.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 31,120 shares of the utilities provider's stock worth $1,018,000 after purchasing an additional 7,576 shares during the last quarter. 49.86% of the stock is currently owned by hedge funds and other institutional investors.

York Water Trading Up 2.1%

YORW traded up $0.63 during trading hours on Friday, reaching $30.89. 70,145 shares of the company's stock traded hands, compared to its average volume of 74,671. The firm has a 50-day moving average price of $31.90 and a 200 day moving average price of $32.82. York Water has a 52-week low of $29.86 and a 52-week high of $41.79. The company has a quick ratio of 0.71, a current ratio of 0.90 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $444.74 million, a PE ratio of 22.45 and a beta of 0.70.

York Water (NASDAQ:YORW - Get Free Report) last issued its earnings results on Tuesday, May 6th. The utilities provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.08). The firm had revenue of $18.46 million during the quarter, compared to analysts' expectations of $19.00 million. York Water had a return on equity of 8.56% and a net margin of 25.91%. As a group, sell-side analysts predict that York Water will post 1.43 EPS for the current fiscal year.

York Water Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.2192 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Monday, June 30th. York Water's dividend payout ratio is 64.23%.

York Water Company Profile

The York Water Company impounds, purifies, and distributes drinking water. It owns and operates three wastewater collection systems; ten wastewater collection and treatment systems; and two reservoirs, including Lake Williams and Lake Redman, which hold approximately 2.2 billion gallons of water. The company also operates a 15-mile pipeline from the Susquehanna River to Lake Redman; and owns satellite groundwater systems in York, Adams, and Lancaster Counties, as well as two impounding dams on primary system located in York and Springfield Townships.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.