Cullen Capital Management LLC Takes Position in The York Water Company $YORW

Cullen Capital Management LLC acquired a new stake in shares of The York Water Company (NASDAQ:YORW) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 22,899 shares of the utilities provider’s stock, valued at approximately $702,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of York Water during the 2nd quarter valued at $39,283,000. Bank of New York Mellon Corp purchased a new position in shares of York Water during the 2nd quarter valued at $4,714,000. Arrowstreet Capital Limited Partnership boosted its holdings in York Water by 204.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 194,436 shares of the utilities provider’s stock worth $5,915,000 after buying an additional 130,613 shares during the period. Legal & General Group Plc increased its stake in York Water by 46.1% in the 3rd quarter. Legal & General Group Plc now owns 379,692 shares of the utilities provider’s stock worth $11,550,000 after buying an additional 119,809 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in York Water by 80.8% in the 1st quarter. Renaissance Technologies LLC now owns 204,036 shares of the utilities provider’s stock worth $6,213,000 after buying an additional 91,200 shares in the last quarter. 49.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

York Water Trading Down 0.8%

York Water stock opened at $34.29 on Wednesday. The York Water Company has a 1 year low of $28.26 and a 1 year high of $34.81. The firm’s 50 day moving average price is $31.41 and its 200-day moving average price is $31.05. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 0.88. The stock has a market cap of $556.53 million, a P/E ratio of 21.30 and a beta of 0.60.

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

York Water Dividend Announcement

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

Insider Activity at York Water

In other news, CEO Joseph Thomas Hand sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was 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 trade represents a 18.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.50% of the stock is owned by company insiders.

York Water 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.