Commonwealth Equity Services LLC cut its stake in York Water Co (NASDAQ:YORW) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,298 shares of the utilities provider’s stock after selling 872 shares during the period. Commonwealth Equity Services LLC owned about 0.07% of York Water worth $298,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Sowell Financial Services LLC purchased a new stake in shares of York Water in the third quarter valued at about $225,000. Whittier Trust Co. purchased a new position in York Water during the fourth quarter worth about $288,000. MetLife Investment Advisors LLC raised its holdings in York Water by 48.7% during the third quarter. MetLife Investment Advisors LLC now owns 9,953 shares of the utilities provider’s stock worth $303,000 after purchasing an additional 3,258 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in York Water during the third quarter worth about $378,000. Finally, Costello Asset Management INC purchased a new position in York Water during the fourth quarter worth about $425,000. 36.88% of the stock is owned by hedge funds and other institutional investors.
NASDAQ YORW traded up $0.43 during trading hours on Wednesday, hitting $33.41. 16,327 shares of the stock were exchanged, compared to its average volume of 19,843. The stock has a market capitalization of $432.53 million, a P/E ratio of 32.13 and a beta of 0.26. York Water Co has a 12-month low of $28.95 and a 12-month high of $36.50. The company has a quick ratio of 0.75, a current ratio of 0.83 and a debt-to-equity ratio of 0.74.
The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, February 28th were given a dividend of $0.1733 per share. This is a positive change from York Water’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Wednesday, February 27th. York Water’s dividend payout ratio is presently 66.35%.
Several research analysts recently issued reports on the stock. BidaskClub cut shares of York Water from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Zacks Investment Research raised shares of York Water from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Janney Montgomery Scott cut shares of York Water from a “buy” rating to a “neutral” rating and increased their price target for the stock from $35.00 to $36.00 in a report on Wednesday, March 13th. They noted that the move was a valuation call. Finally, Boenning Scattergood cut shares of York Water from an “outperform” rating to a “neutral” rating in a report on Tuesday, March 12th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. York Water currently has an average rating of “Hold” and an average price target of $36.00.
York Water Company Profile
The York Water Company impounds, purifies, and distributes drinking water. It also owns and operates three wastewater collection systems and two wastewater treatment systems; and two reservoirs, including Lake Williams and Lake Redman, which hold approximately 2.2 billion gallons of water. In addition, the company has a 15-mile pipeline from the Susquehanna River to Lake Redman; and owns seven wells that supply water to its customers in Carroll Valley Borough and Cumberland Township, Adams County.
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