York Water (NASDAQ:YORW) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

York Water (NASDAQ:YORW) posted its quarterly earnings results on Tuesday. The utilities provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02, Zacks reports. York Water had a net margin of 25.83% and a return on equity of 8.54%. The firm had revenue of $19.20 million during the quarter, compared to the consensus estimate of $19.00 million.

York Water Stock Performance

Shares of NASDAQ:YORW opened at $31.24 on Thursday. The company has a market capitalization of $449.86 million, a price-to-earnings ratio of 22.80 and a beta of 0.71. York Water has a 52 week low of $29.86 and a 52 week high of $39.79. The company has a quick ratio of 0.71, a current ratio of 0.90 and a debt-to-equity ratio of 0.91. The firm has a 50 day moving average of $31.60 and a 200 day moving average of $32.82.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of York Water from a “hold” rating to a “sell” rating in a research note on Saturday, July 5th.

Hedge Funds Weigh In On York Water

A number of large investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership raised its stake in York Water by 36.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 63,823 shares of the utilities provider’s stock worth $2,017,000 after buying an additional 17,181 shares in the last quarter. Jane Street Group LLC bought a new position in York Water in the first quarter worth approximately $498,000. Dynamic Technology Lab Private Ltd bought a new position in York Water in the first quarter worth approximately $263,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in York Water by 8.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,476 shares of the utilities provider’s stock worth $398,000 after buying an additional 937 shares in the last quarter. Institutional investors own 49.86% of the company’s stock.

York Water Company Profile

The York Water Company impounds, purifies, and distributes drinking water. It owns and operates three wastewater collection systems; ten 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 satellite groundwater systems in York, Adams, and Lancaster Counties, as well as two impounding dams on primary system located in York and Springfield Townships.