Cullen Capital Management LLC Takes Position in The York Water Company $YORW

Cullen Capital Management LLC bought a new stake in shares of The York Water Company (NASDAQ:YORW) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 22,899 shares of the utilities provider’s stock, valued at approximately $702,000. Cullen Capital Management LLC owned about 0.14% of York Water at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of YORW. Clear Harbor Asset Management LLC bought a new position in shares of York Water during the second quarter valued at $402,000. Ieq Capital LLC purchased a new stake in shares of York Water during the second quarter valued at $383,000. Allworth Financial LP bought a new stake in York Water in the 2nd quarter worth about $29,000. BlackRock Inc. bought a new stake in York Water in the 2nd quarter worth about $39,283,000. Finally, Deutsche Bank AG purchased a new position in York Water in the 2nd quarter worth about $493,000. Institutional investors own 49.86% of the company’s stock.

Wall Street Analyst Weigh In

YORW has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of York Water from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Cantor Fitzgerald set a $31.00 target price on shares of York Water in a research report on Monday, August 10th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, York Water currently has a consensus rating of “Hold” and a consensus price target of $31.00.

York Water Price Performance

NASDAQ YORW opened at $34.29 on Wednesday. The company has a 50-day moving average price of $31.41 and a 200-day moving average price of $31.05. The York Water Company has a 52 week low of $28.26 and a 52 week high of $34.81. The company has a quick ratio of 0.88, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $556.53 million, a P/E ratio of 21.30 and a beta of 0.60.

York Water (NASDAQ:YORW) last posted its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.09. The company had revenue of $23.52 million for the quarter, compared to the consensus estimate of $22.18 million. York Water had a net margin of 28.53% and a return on equity of 9.38%.

York Water Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.228 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.91 annualized dividend and a yield of 2.7%. York Water’s dividend payout ratio (DPR) is presently 56.52%.

Insider Buying and Selling at York Water

In other news, CEO Joseph Thomas Hand sold 8,000 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $33.28, for a total transaction of $266,240.00. Following the completion of the sale, the chief executive officer owned 35,308 shares of the company’s stock, valued at $1,175,050.24. The trade was a 18.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is owned by corporate insiders.

York Water Company Profile

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.