York Water (NASDAQ:YORW) Releases Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• York Water reported an earnings per share (EPS) of $0.35 for the quarter, surpassing the expected $0.33 by $0.02.
• The company's stock rose 2.4% to $31.67 following the earnings announcement, with a market capitalization of $456.05 million.
• Institutional investors and hedge funds own nearly 49.86% of York Water's shares, indicating significant interest from larger investment entities.

York Water (NASDAQ:YORW - Get Free Report) posted its quarterly earnings data on Tuesday. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.02, Zacks reports. York Water had a net margin of 25.83% and a return on equity of 8.50%. The company had revenue of $19.20 million for the quarter, compared to the consensus estimate of $19.00 million.

York Water Stock Up 0.8%

YORW traded up $0.24 during trading on Friday, reaching $30.91. 169,518 shares of the stock were exchanged, compared to its average volume of 108,788. The stock has a market cap of $445.72 million, a P/E ratio of 22.56 and a beta of 0.71. York Water has a twelve month low of $29.86 and a twelve month high of $39.79. The stock's 50 day moving average price is $31.56 and its two-hundred day moving average price is $32.81. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.71 and a current ratio of 1.00.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On York Water

A number of institutional investors have recently added to or reduced their stakes in YORW. Bank of America Corp DE increased its holdings in shares of York Water by 39.3% in the second quarter. Bank of America Corp DE now owns 80,304 shares of the utilities provider's stock valued at $2,538,000 after purchasing an additional 22,663 shares during the last quarter. Raymond James Financial Inc. increased its holdings in shares of York Water by 168.7% in the second quarter. Raymond James Financial Inc. now owns 34,801 shares of the utilities provider's stock valued at $1,100,000 after purchasing an additional 21,851 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of York Water by 36.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 63,823 shares of the utilities provider's stock valued at $2,017,000 after purchasing an additional 17,181 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of York Water in the first quarter valued at $498,000. Finally, Quantinno Capital Management LP increased its holdings in shares of York Water by 208.3% in the second quarter. Quantinno Capital Management LP now owns 18,862 shares of the utilities provider's stock valued at $596,000 after purchasing an additional 12,743 shares during the last quarter. 49.86% of the stock is currently owned by institutional investors and hedge funds.

About York Water

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.