York Water (NASDAQ:YORW) Announces Earnings Results

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) announced its earnings results on Tuesday. The utilities provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02, Zacks reports. York Water had a return on equity of 8.56% and a net margin of 25.91%.

York Water Stock Up 2.4%

YORW traded up $0.75 during trading on Tuesday, hitting $31.67. 96,738 shares of the company's stock were exchanged, compared to its average volume of 75,905. 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 business's 50 day moving average is $31.63 and its two-hundred day moving average is $32.84. The stock has a market cap of $456.05 million, a P/E ratio of 23.05 and a beta of 0.71. York Water has a fifty-two week low of $29.86 and a fifty-two week high of $39.79.

Hedge Funds Weigh In On York Water

Hedge funds have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd purchased a new position in shares of York Water during the first quarter valued at approximately $263,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of York Water by 8.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,476 shares of the utilities provider's stock worth $398,000 after buying an additional 937 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in York Water during the first quarter worth $498,000. Institutional investors and hedge funds own 49.86% of the company's stock.

Analyst Upgrades and Downgrades

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

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.

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