The York Water Co. (YORW) to Issue Quarterly Dividend of $0.16
The York Water Co. (NASDAQ:YORW) declared a quarterly dividend on Wednesday, November 23rd. Investors of record on Friday, December 30th will be paid a dividend of 0.1602 per share on Tuesday, January 17th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Wednesday, December 28th. This is a boost from The York Water’s previous quarterly dividend of $0.16.
Shares of The York Water (NASDAQ:YORW) traded down 1.62% on Wednesday, hitting $36.40. The company had a trading volume of 35,704 shares. The York Water has a 12-month low of $22.81 and a 12-month high of $37.15. The firm has a 50 day moving average of $30.85 and a 200-day moving average of $29.88. The firm has a market capitalization of $467.41 million, a P/E ratio of 37.60 and a beta of 0.47.
The York Water (NASDAQ:YORW) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by $0.01. The company earned $12.60 million during the quarter, compared to the consensus estimate of $12.50 million. The York Water had a net margin of 26.25% and a return on equity of 11.17%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.28 EPS. On average, equities analysts predict that The York Water will post $0.95 EPS for the current year.
Several large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of The York Water by 7.2% in the second quarter. Dimensional Fund Advisors LP now owns 325,024 shares of the company’s stock valued at $10,414,000 after buying an additional 21,909 shares during the period. Vanguard Group Inc. increased its stake in shares of The York Water by 6.6% in the second quarter. Vanguard Group Inc. now owns 501,884 shares of the company’s stock valued at $16,080,000 after buying an additional 30,983 shares during the period. BlackRock Advisors LLC increased its stake in shares of The York Water by 55.1% in the second quarter. BlackRock Advisors LLC now owns 6,161 shares of the company’s stock valued at $197,000 after buying an additional 2,189 shares during the period. BlackRock Fund Advisors increased its stake in shares of The York Water by 2.8% in the second quarter. BlackRock Fund Advisors now owns 339,085 shares of the company’s stock valued at $10,864,000 after buying an additional 9,320 shares during the period. Finally, BlackRock Group LTD acquired a new stake in shares of The York Water during the second quarter valued at about $108,000. Institutional investors own 31.91% of the company’s stock.
Separately, Zacks Investment Research upgraded The York Water from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Wednesday, November 16th.
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.
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