PNC Financial Services Group Inc. decreased its position in The York Water Company (NASDAQ:YORW) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,000 shares of the utilities provider’s stock after selling 529 shares during the quarter. PNC Financial Services Group Inc. owned about 0.18% of The York Water worth $801,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in YORW. Russell Investments Group Ltd. bought a new stake in shares of The York Water in the 1st quarter valued at approximately $156,000. Bank of New York Mellon Corp grew its stake in shares of The York Water by 4.8% in the 1st quarter. Bank of New York Mellon Corp now owns 100,534 shares of the utilities provider’s stock valued at $3,523,000 after buying an additional 4,577 shares in the last quarter. Karp Capital Management Corp bought a new stake in shares of The York Water in the 1st quarter valued at approximately $206,000. Parametric Portfolio Associates LLC grew its stake in shares of The York Water by 482.2% in the 1st quarter. Parametric Portfolio Associates LLC now owns 145,019 shares of the utilities provider’s stock valued at $5,083,000 after buying an additional 120,112 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of The York Water by 2.9% in the 1st quarter. JPMorgan Chase & Co. now owns 16,137 shares of the utilities provider’s stock valued at $566,000 after buying an additional 451 shares in the last quarter. 35.39% of the stock is owned by institutional investors and hedge funds.
Shares of The York Water Company (NASDAQ YORW) opened at 35.70 on Wednesday. The firm has a market capitalization of $458.64 million, a price-to-earnings ratio of 38.39 and a beta of 0.58. The York Water Company has a 12-month low of $28.80 and a 12-month high of $39.86. The company has a 50-day moving average price of $33.72 and a 200 day moving average price of $34.60.
The York Water (NASDAQ:YORW) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. The firm had revenue of $12.30 million during the quarter, compared to the consensus estimate of $12.21 million. The York Water had a return on equity of 10.52% and a net margin of 25.05%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $0.23 earnings per share. Equities research analysts expect that The York Water Company will post $0.96 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a $0.16 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.64 dividend on an annualized basis and a yield of 1.79%. The York Water’s dividend payout ratio is 68.82%.
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Several equities research analysts recently commented on YORW shares. Zacks Investment Research cut The York Water from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. BidaskClub lowered The York Water from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st.
About The 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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