BidaskClub upgraded shares of York Water (NASDAQ:YORW) from a strong sell rating to a sell rating in a report published on Wednesday morning.
Separately, Zacks Investment Research raised York Water from a hold rating to a buy rating and set a $37.00 price target for the company in a report on Saturday, January 6th.
Shares of York Water (YORW) opened at $30.40 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.77 and a debt-to-equity ratio of 0.76. York Water has a fifty-two week low of $28.24 and a fifty-two week high of $39.86. The firm has a market capitalization of $388.38, a price-to-earnings ratio of 31.34 and a beta of 0.43.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Wednesday, February 28th will be issued a dividend of $0.167 per share. The ex-dividend date is Tuesday, February 27th. This is an increase from York Water’s previous quarterly dividend of $0.17. This represents a $0.67 annualized dividend and a dividend yield of 2.20%. York Water’s dividend payout ratio (DPR) is currently 69.07%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Gradient Investments LLC acquired a new stake in York Water in the fourth quarter valued at $163,000. Stifel Financial Corp lifted its holdings in York Water by 8.4% in the second quarter. Stifel Financial Corp now owns 7,106 shares of the utilities provider’s stock valued at $252,000 after acquiring an additional 551 shares during the period. Voya Investment Management LLC lifted its holdings in York Water by 12.3% in the second quarter. Voya Investment Management LLC now owns 8,252 shares of the utilities provider’s stock valued at $288,000 after acquiring an additional 904 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in York Water by 11.3% in the second quarter. The Manufacturers Life Insurance Company now owns 11,830 shares of the utilities provider’s stock valued at $412,000 after acquiring an additional 1,200 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in York Water by 35.8% in the second quarter. Alliancebernstein L.P. now owns 14,540 shares of the utilities provider’s stock valued at $507,000 after acquiring an additional 3,832 shares during the period. 33.63% of the stock is owned by hedge funds and other institutional investors.
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About York Water
The York Water Company is an investor-owned water utility in the United States. The primary business of the Company is to impound, purify to meet or exceed safe drinking water standards and distribute water. As of December 31, 2016, it also owned and operated three wastewater collection systems and two wastewater treatment systems.
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