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

York Water (NASDAQ:YORW) posted its earnings results on Tuesday. The utilities provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02, Zacks reports. The business had revenue of $20.07 million for the quarter, compared to analysts’ expectations of $20.29 million. York Water had a net margin of 25.89% and a return on equity of 8.49%.

York Water Price Performance

Shares of YORW traded up $0.31 during mid-day trading on Tuesday, hitting $29.45. 44,737 shares of the company traded hands, compared to its average volume of 133,001. The business has a 50-day moving average of $31.20 and a 200 day moving average of $32.06. York Water has a one year low of $28.26 and a one year high of $35.26. The stock has a market capitalization of $477.15 million, a price-to-earnings ratio of 21.20 and a beta of 0.60. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 0.92.

Insiders Place Their Bets

In other York Water news, CEO Joseph Thomas Hand acquired 1,052 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The shares were acquired at an average cost of $28.50 per share, for a total transaction of $29,982.00. Following the completion of the acquisition, the chief executive officer directly owned 41,332 shares of the company’s stock, valued at approximately $1,177,962. This represents a 2.61% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased 1,556 shares of company stock valued at $44,590 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On York Water

Several large investors have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV lifted its holdings in York Water by 25.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 9,669 shares of the utilities provider’s stock valued at $308,000 after buying an additional 1,938 shares during the period. Odyssean LLC acquired a new position in York Water in the fourth quarter valued at approximately $392,000. AQR Capital Management LLC lifted its holdings in York Water by 23.2% in the fourth quarter. AQR Capital Management LLC now owns 108,245 shares of the utilities provider’s stock valued at $3,447,000 after buying an additional 20,371 shares during the period. Cetera Investment Advisers acquired a new position in York Water in the fourth quarter valued at approximately $262,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in York Water by 13.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,609 shares of the utilities provider’s stock valued at $275,000 after buying an additional 1,035 shares during the period. 49.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of York Water from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, York Water presently has a consensus rating of “Hold”.

York Water Company Profile

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.