Principal Financial Group Inc. grew its holdings in shares of The York Water Company (NASDAQ:YORW) by 45.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,101 shares of the utilities provider’s stock after acquiring an additional 5,693 shares during the quarter. Principal Financial Group Inc. owned 0.14% of The York Water worth $631,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of YORW. Parametric Portfolio Associates LLC raised its stake in The York Water by 482.2% during the first quarter. Parametric Portfolio Associates LLC now owns 145,019 shares of the utilities provider’s stock worth $5,083,000 after acquiring an additional 120,112 shares in the last quarter. Vanguard Group Inc. raised its stake in The York Water by 23.4% during the first quarter. Vanguard Group Inc. now owns 624,439 shares of the utilities provider’s stock worth $21,887,000 after acquiring an additional 118,367 shares in the last quarter. First Trust Advisors LP acquired a new position in The York Water during the second quarter worth about $3,107,000. Dimensional Fund Advisors LP raised its stake in The York Water by 5.7% during the first quarter. Dimensional Fund Advisors LP now owns 374,489 shares of the utilities provider’s stock worth $13,126,000 after acquiring an additional 20,092 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in The York Water by 49.6% during the first quarter. California Public Employees Retirement System now owns 35,000 shares of the utilities provider’s stock worth $1,301,000 after acquiring an additional 11,600 shares in the last quarter. 35.39% of the stock is owned by hedge funds and other institutional investors.
The York Water Company (YORW) opened at 36.35 on Thursday. The stock has a 50 day moving average price of $33.82 and a 200 day moving average price of $34.61. The York Water Company has a 1-year low of $28.70 and a 1-year high of $39.86. The firm has a market cap of $466.99 million, a P/E ratio of 39.09 and a beta of 0.58.
The York Water (NASDAQ:YORW) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.23 earnings per share (EPS) 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 company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the company posted $0.23 EPS. On average, analysts anticipate that The York Water Company will post $0.96 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given 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 1.76%. The York Water’s payout ratio is 68.82%.
Several research analysts have commented on YORW shares. Zacks Investment Research downgraded The York Water from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. BidaskClub downgraded The York Water from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st.
The York Water 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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