York Water Co (NASDAQ:YORW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

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. “

York Water (NASDAQ:YORW) traded up 0.78% during trading on Friday, reaching $32.45. The company had a trading volume of 9,268 shares. The company has a market capitalization of $416.79 million, a PE ratio of 34.93 and a beta of 0.56. York Water has a 52-week low of $26.75 and a 52-week high of $39.85. The stock has a 50 day moving average price of $35.23 and a 200-day moving average price of $35.45.

York Water (NASDAQ:YORW) last announced its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.01. York Water had a net margin of 26.25% and a return on equity of 11.17%. The company had revenue of $11.29 million for the quarter. On average, equities research analysts anticipate that York Water will post $0.96 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be paid a $0.1602 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.64 dividend on an annualized basis and a yield of 1.99%. York Water’s payout ratio is presently 66.67%.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in York Water by 4.8% in the first quarter. Bank of New York Mellon Corp now owns 100,534 shares of the utilities provider’s stock worth $3,523,000 after buying an additional 4,577 shares during the last quarter. First Midwest Bank Trust Division raised its position in York Water by 8.6% in the first quarter. First Midwest Bank Trust Division now owns 9,778 shares of the utilities provider’s stock worth $343,000 after buying an additional 772 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in York Water during the first quarter worth about $156,000. Strs Ohio raised its position in York Water by 3.7% in the first quarter. Strs Ohio now owns 19,800 shares of the utilities provider’s stock worth $693,000 after buying an additional 700 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in York Water by 17.8% in the first quarter. ProShare Advisors LLC now owns 184,330 shares of the utilities provider’s stock worth $6,461,000 after buying an additional 27,811 shares during the last quarter. Institutional investors and hedge funds own 30.71% of the company’s stock.

York Water Company Profile

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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