Insider Buying: York Water (NASDAQ:YORW) CEO Buys $29,982.00 in Stock

The York Water Company (NASDAQ:YORW) CEO Joseph Thomas Hand purchased 1,052 shares of York Water stock in a transaction dated Thursday, April 16th. The shares were acquired at an average cost of $28.50 per share, for a total transaction of $29,982.00. Following the completion of the transaction, the chief executive officer owned 41,332 shares of the company’s stock, valued at approximately $1,177,962. This represents a 2.61% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Joseph Thomas Hand also recently made the following trade(s):

• On Thursday, April 16th, Joseph Thomas Hand purchased 103 shares of York Water stock. The shares were acquired at an average cost of $29.13 per share, for a total transaction of $3,000.39.
• On Monday, March 16th, Joseph Thomas Hand purchased 15 shares of York Water stock. The shares were acquired at an average cost of $31.55 per share, for a total transaction of $473.25.

York Water Stock Performance

Shares of YORW stock opened at $30.08 on Monday. The business’s fifty day simple moving average is $31.77 and its 200-day simple moving average is $32.11. The company has a market cap of $434.66 million, a PE ratio of 21.64 and a beta of 0.70. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 0.92. The York Water Company has a 12-month low of $28.26 and a 12-month high of $36.48.

York Water (NASDAQ:YORW) last issued its quarterly earnings results on Tuesday, March 3rd. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. The business had revenue of $19.47 million for the quarter, compared to the consensus estimate of $20.00 million. York Water had a return on equity of 8.49% and a net margin of 25.89%. Analysts expect that The York Water Company will post 1.43 earnings per share for the current fiscal year.

York Water Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Friday, February 27th were given a dividend of $0.228 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.91 dividend on an annualized basis and a dividend yield of 3.0%. York Water’s dividend payout ratio is presently 65.47%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wall Street Zen raised York Water from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of York Water in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Key York Water News

Here are the key news stories impacting York Water this week:

• Positive Sentiment: Insiders (CEO Joseph T. Hand, CFO Matthew E. Poff, COO Matthew J. Scarpato and several VPs) purchased shares on April 16–17, signaling management confidence in the company’s outlook. Read More.
• Positive Sentiment: The offering closed with net proceeds of ~ $41.4M, which the company says will be used for capital investment, repayment of outstanding indebtedness and possible acquisitions — strengthening liquidity to support regulated operations and growth projects. Read More.
• Neutral Sentiment: Pricing and mechanics: the company priced 1,521,739 shares at $28.50 and granted underwriters a 30‑day option to buy up to 228,261 additional shares (common structure that can increase supply if exercised). Read More.
• Neutral Sentiment: Underwriting: Huntington Capital Markets acted as book‑running manager with Seaport Global as co‑manager — reputable placement that helps execution and reduces execution risk. Read More.
• Negative Sentiment: Share dilution and market signal: issuing new common shares dilutes existing holders and may be interpreted as a sign the company needed external capital; that contributed to recent selling pressure and a drop toward a 52‑week low. Read More.

Institutional Investors Weigh In On York Water

A number of large investors have recently made changes to their positions in YORW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of York Water by 8.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,476 shares of the utilities provider’s stock valued at $398,000 after buying an additional 937 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of York Water during the first quarter valued at $263,000. Jane Street Group LLC purchased a new stake in shares of York Water during the first quarter valued at $498,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of York Water by 36.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 63,823 shares of the utilities provider’s stock valued at $2,017,000 after buying an additional 17,181 shares during the last quarter. Finally, Quantinno Capital Management LP grew its holdings in shares of York Water by 208.3% during the second quarter. Quantinno Capital Management LP now owns 18,862 shares of the utilities provider’s stock valued at $596,000 after buying an additional 12,743 shares during the last quarter. 49.86% of the stock is owned by hedge funds and other institutional investors.

About York Water

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.