York Water (NASDAQ:YORW) Share Price Passes Above 200 Day Moving Average – Time to Sell?

The York Water Company (NASDAQ:YORW) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $31.16 and traded as high as $33.55. York Water shares last traded at $33.06, with a volume of 160,804 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on YORW. Weiss Ratings raised shares of York Water from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. Cantor Fitzgerald set a $31.00 price target on shares of York Water in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $31.00.

York Water Stock Performance

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 50 day moving average price of $32.42 and a 200-day moving average price of $31.16. The stock has a market capitalization of $532.83 million, a PE ratio of 20.39 and a beta of 0.60.

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

York Water Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.228 per share. This represents a $0.91 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, September 30th. York Water’s payout ratio is 56.52%.

Insiders Place Their Bets

In related news, CEO Joseph Hand sold 8,000 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $33.28, for a total value of $266,240.00. Following the completion of the transaction, the chief executive officer owned 35,308 shares of the company’s stock, valued at approximately $1,175,050.24. This represents a 18.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have acquired a total of 85 shares of company stock valued at $2,760 over the last three months. 0.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of YORW. BlackRock Inc. purchased a new stake in York Water during the 2nd quarter valued at about $39,283,000. Legal & General Group Plc purchased a new stake in York Water in the 2nd quarter valued at $9,859,000. Bank of New York Mellon Corp acquired a new stake in York Water during the second quarter worth about $4,714,000. Renaissance Technologies LLC increased its holdings in shares of York Water by 80.8% during the 1st quarter. Renaissance Technologies LLC now owns 204,036 shares of the utilities provider’s stock worth $6,213,000 after buying an additional 91,200 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in York Water by 36.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 326,730 shares of the utilities provider’s stock worth $9,949,000 after acquiring an additional 86,917 shares during the last quarter. Institutional investors and hedge funds own 49.86% of the company’s stock.

About York Water

The York Water Company (NASDAQ:YORW) is a regulated public utility that provides water and wastewater services in south-central Pennsylvania. Its operations include the collection, treatment, distribution and sale of potable water, along with wastewater collection and treatment services for residential, commercial, industrial and municipal customers.

Founded in 1816, York Water is one of the oldest investor-owned water utilities in the United States. The company owns and operates water systems, treatment facilities, reservoirs, wells and distribution infrastructure designed to deliver reliable service and support communities throughout its service territory.

York Water primarily serves customers in York, Adams and Franklin counties in Pennsylvania.