York Water (NASDAQ:YORW) Sets New 52-Week High – Here’s Why

The York Water Company (NASDAQ:YORW)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $34.38 and last traded at $34.33, with a volume of 49668 shares. The stock had previously closed at $33.84.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Cantor Fitzgerald set a $31.00 price target on shares of York Water in a report on Monday, August 10th. Weiss Ratings upgraded York Water from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, York Water currently has an average rating of “Hold” and a consensus price target of $31.00.

York Water Stock Performance

The firm has a fifty day moving average price of $31.22 and a 200 day moving average price of $31.05. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.88 and a current ratio of 1.05. The stock has a market cap of $552.31 million, a PE ratio of 21.14 and a beta of 0.60.

York Water (NASDAQ:YORW) last announced its earnings results on Thursday, August 6th. The utilities provider reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.09. York Water had a return on equity of 9.38% and a net margin of 28.53%.The firm had revenue of $23.52 million for the quarter, compared to the consensus estimate of $22.18 million.

York Water Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.228 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.91 dividend on an annualized basis and a dividend yield of 2.7%. York Water’s payout ratio is 56.52%.

Insider Transactions at York Water

In related news, CEO Joseph Thomas Hand sold 8,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $33.28, for a total transaction of $266,240.00. Following the completion of the transaction, the chief executive officer owned 35,308 shares in the company, valued at $1,175,050.24. This represents a 18.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is currently owned by insiders.

Institutional Trading of York Water

Large investors have recently made changes to their positions in the company. Allworth Financial LP acquired a new stake in York Water in the 2nd quarter valued at about $29,000. Advisory Services Network LLC acquired a new stake in shares of York Water in the third quarter valued at approximately $31,000. Farther Finance Advisors LLC lifted its position in 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 buying an additional 441 shares in the last quarter. Parallel Advisors LLC lifted its position in 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 buying an additional 1,008 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in York Water by 86.9% during the second quarter. Tower Research Capital LLC TRC now owns 1,411 shares of the utilities provider’s stock worth $45,000 after buying an additional 656 shares during the last quarter. 49.86% of the stock is currently owned by hedge funds and other institutional investors.

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.