York Water (NASDAQ:YORW) Now Covered by Huntington

Huntington began coverage on shares of York Water (NASDAQ:YORW) in a research report report published on Monday,Zacks reports. The firm issued a strong-buy rating on the utilities provider’s stock.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings restated a “hold (c)” rating on shares of York Water in a report on Friday, October 30th. Cantor Fitzgerald set a $31.00 target price on shares of York Water in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, York Water has a consensus rating of “Buy” and a consensus target price of $31.00.

York Water Stock Performance

Shares of YORW opened at $32.39 on Monday. The company has a market capitalization of $525.69 million, a price-to-earnings ratio of 19.51 and a beta of 0.52. York Water has a 52-week low of $28.26 and a 52-week high of $34.81. The company has a quick ratio of 0.88, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The stock has a 50 day moving average price of $31.89 and a 200 day moving average price of $31.41.

York Water (NASDAQ:YORW) last released its quarterly earnings data on Friday, November 6th. The utilities provider reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. York Water had a net margin of 28.53% and a return on equity of 9.38%. The company had revenue of $24.33 million for the quarter, compared to analysts’ expectations of $22.60 million.

York Water Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a $0.2280 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.91 dividend on an annualized basis and a dividend yield of 2.8%. York Water’s dividend payout ratio is 54.82%.

Insider Transactions at York Water

In related news, CEO Joseph Hand sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $33.28, for a total transaction of $266,240.00. Following 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David M. Velazquez purchased 1,288 shares of the business’s stock in a transaction on Tuesday, October 20th. The shares were purchased at an average cost of $31.07 per share, for a total transaction of $40,018.16. Following the transaction, the director owned 1,288 shares of the company’s stock, valued at $40,018.16. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 1,410 shares of company stock valued at $44,024. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On York Water

Hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. increased its holdings in shares of York Water by 44.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 31,391 shares of the utilities provider’s stock valued at $961,000 after acquiring an additional 9,661 shares during the period. Penn Capital Management Company LLC raised its position in York Water by 2.4% in the 3rd quarter. Penn Capital Management Company LLC now owns 100,101 shares of the utilities provider’s stock valued at $3,065,000 after purchasing an additional 2,305 shares during the last quarter. CenterBook Partners LP raised its position in York Water by 5.0% in the 3rd quarter. CenterBook Partners LP now owns 38,833 shares of the utilities provider’s stock valued at $1,189,000 after purchasing an additional 1,844 shares during the last quarter. Moss Adams Wealth Advisors LLC purchased a new stake in York Water in the 3rd quarter valued at $223,000. Finally, Engineers Gate Manager LP boosted its stake in York Water by 111.0% during the 2nd quarter. Engineers Gate Manager LP now owns 28,479 shares of the utilities provider’s stock worth $873,000 after purchasing an additional 14,983 shares during the period. 49.86% of the stock is currently owned by hedge funds and other institutional investors.

About York Water

The York Water Company (NASDAQ:YORW) is a regulated water utility serving communities in south-central Pennsylvania. The company provides residential, commercial and industrial customers with treated drinking water through a network of reservoirs, treatment facilities, pipelines and distribution infrastructure.

In addition to its water operations, York Water provides wastewater collection and related services in portions of its service territory. Its operations primarily cover York County and extend into surrounding areas, including parts of Adams and Franklin counties.

Founded in 1816, York Water is recognized as one of the oldest investor-owned water utilities in the United States.