The York Water Co. (YORW) Rating Increased to Hold at Zacks Investment Research
The York Water Co. (NASDAQ:YORW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “The York Water Company impounds, purifies and distributes water. They are regulated by the Pennsylvania Public Utility Commission in the areas of billing, payment procedures, dispute processing, terminations, service territory, and rate setting. They must obtain PPUC approval before changing any of the aforementioned procedures. “
Shares of The York Water (NASDAQ:YORW) traded up 1.7279% on Wednesday, reaching $29.3485. The company’s stock had a trading volume of 7,952 shares. The stock has a market capitalization of $377.69 million, a price-to-earnings ratio of 30.4445 and a beta of 0.49. The stock has a 50-day moving average of $29.17 and a 200 day moving average of $29.69. The York Water has a 52 week low of $22.18 and a 52 week high of $33.40.
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The York Water (NASDAQ:YORW) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. The firm earned $11.80 million during the quarter, compared to analysts’ expectations of $12.08 million. The York Water had a return on equity of 11.29% and a net margin of 26.27%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 EPS. On average, analysts expect that The York Water will post $0.95 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.1555 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.62 annualized dividend and a yield of 2.16%. The York Water’s dividend payout ratio (DPR) is 63.92%.
A number of institutional investors have recently bought and sold shares of the stock. BlackRock Group LTD purchased a new position in The York Water during the second quarter valued at approximately $108,000. BlackRock Advisors LLC boosted its position in The York Water by 55.1% in the second quarter. BlackRock Advisors LLC now owns 6,161 shares of the company’s stock valued at $197,000 after buying an additional 2,189 shares during the period. Baird Financial Group Inc. purchased a new position in The York Water during the second quarter valued at approximately $210,000. Janney Montgomery Scott LLC purchased a new position in The York Water during the second quarter valued at approximately $211,000. Finally, Royal Bank of Canada boosted its position in The York Water by 73.3% in the first quarter. Royal Bank of Canada now owns 7,778 shares of the company’s stock valued at $238,000 after buying an additional 3,290 shares during the period. 31.01% of the stock is owned by hedge funds and other institutional investors.
The York Water Company Profile
The York Water Company is an investor-owned water utility. The Company impounds, purifies and distributes water. The Company owns and operates approximately two wastewater collection and treatment systems. It operates within its franchised territory, which covers over 40 municipalities within York County, Pennsylvania and over nine municipalities within Adams County, Pennsylvania.
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