Zacks Investment Research upgraded shares of The York Water Co. (NASDAQ:YORW) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

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. “

Shares of The York Water (NASDAQ:YORW) traded up 0.34% on Wednesday, reaching $29.20. The company had a trading volume of 539 shares. The York Water has a 52-week low of $22.18 and a 52-week high of $33.40. The firm has a market capitalization of $375.77 million, a price-to-earnings ratio of 30.29 and a beta of 0.49. The company’s 50-day moving average price is $29.17 and its 200-day moving average price is $29.68.

The York Water (NASDAQ:YORW) last released its earnings results on Wednesday, August 3rd. The company reported $0.23 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. The firm had revenue of $11.80 million for the quarter, compared to analysts’ expectations of $12.08 million. The York Water had a return on equity of 11.29% and a net margin of 26.27%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 EPS. On average, analysts predict that The York Water will post $0.95 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $0.1555 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Wednesday, September 28th. The York Water’s payout ratio is presently 63.92%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Group LTD acquired a new position in The York Water during the second quarter worth $108,000. BlackRock Advisors LLC raised its position in The York Water by 55.1% in the second quarter. BlackRock Advisors LLC now owns 6,161 shares of the company’s stock worth $197,000 after buying an additional 2,189 shares during the last quarter. Baird Financial Group Inc. acquired a new position in The York Water during the second quarter worth $210,000. Janney Montgomery Scott LLC acquired a new position in The York Water during the second quarter worth $211,000. Finally, Royal Bank of Canada raised its position in The York Water by 73.3% in the first quarter. Royal Bank of Canada now owns 7,778 shares of the company’s stock worth $238,000 after buying an additional 3,290 shares during the last quarter. 31.01% of the stock is currently owned by institutional investors and hedge funds.

About The York Water

The York Water Company is an investor-owned water utility. The Company impounds, purifies and distributes water. The Company owns and operates approximately two wastewater collection and treatment systems. It operates within its franchised territory, which covers over 40 municipalities within York County, Pennsylvania and over nine municipalities within Adams County, Pennsylvania.

5 Day Chart for NASDAQ:YORW

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