The York Water (NASDAQ:YORW) Lowered to Hold at Zacks Investment Research

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

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. “

NASDAQ:YORW opened at $48.59 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.63 and a quick ratio of 0.56. The York Water has a 1 year low of $39.50 and a 1 year high of $51.90. The stock’s 50 day simple moving average is $46.09 and its two-hundred day simple moving average is $45.60. The company has a market cap of $634.73 million, a price-to-earnings ratio of 39.19 and a beta of 0.14.

The York Water (NASDAQ:YORW) last released its quarterly earnings data on Monday, March 8th. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.02. The York Water had a return on equity of 11.88% and a net margin of 30.35%. The business had revenue of $13.40 million for the quarter, compared to the consensus estimate of $13.00 million. As a group, analysts anticipate that The York Water will post 1.24 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership bought a new position in shares of The York Water during the 3rd quarter valued at approximately $794,000. Kovitz Investment Group Partners LLC bought a new position in shares of The York Water during the 4th quarter valued at approximately $214,000. ProShare Advisors LLC increased its position in shares of The York Water by 13.2% during the 4th quarter. ProShare Advisors LLC now owns 193,579 shares of the utilities provider’s stock valued at $9,021,000 after purchasing an additional 22,636 shares during the last quarter. ELCO Management Co. LLC bought a new position in shares of The York Water during the 4th quarter valued at approximately $381,000. Finally, GSA Capital Partners LLP increased its position in shares of The York Water by 17.2% during the 4th quarter. GSA Capital Partners LLP now owns 7,708 shares of the utilities provider’s stock valued at $359,000 after purchasing an additional 1,129 shares during the last quarter. 42.36% of the stock is currently owned by hedge funds and other institutional investors.

About The York Water

The York Water Company impounds, purifies, and distributes drinking water. It owns and operates two wastewater collection systems; five wastewater collection and treatment systems; and two reservoirs, including Lake Williams and Lake Redman, which hold approximately 2.2 billion gallons of water. The company also operates a 15-mile pipeline from the Susquehanna River to Lake Redman; and owns nine groundwater wells that supply water to customers in the Adams County.

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