Legal & General Group Plc Purchases New Position in The York Water Company $YORW

Legal & General Group Plc purchased a new stake in shares of The York Water Company (NASDAQ:YORW) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 321,660 shares of the utilities provider’s stock, valued at approximately $9,859,000.

A number of other large investors have also added to or reduced their stakes in YORW. BlackRock Inc. bought a new stake in York Water in the second quarter worth $39,283,000. Bank of New York Mellon Corp purchased a new stake in York Water during the second quarter valued at $4,714,000. Arrowstreet Capital Limited Partnership lifted its position in York Water by 204.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 194,436 shares of the utilities provider’s stock valued at $5,915,000 after purchasing an additional 130,613 shares during the last quarter. Renaissance Technologies LLC lifted its position in York Water by 80.8% during the first quarter. Renaissance Technologies LLC now owns 204,036 shares of the utilities provider’s stock valued at $6,213,000 after purchasing an additional 91,200 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of York Water by 79.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 154,490 shares of the utilities provider’s stock worth $4,919,000 after buying an additional 68,429 shares in the last quarter. Institutional investors own 49.86% of the company’s stock.

Insider Buying and Selling

In related news, CEO Joseph Thomas Hand sold 8,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $33.28, for a total transaction of $266,240.00. Following the transaction, the chief executive officer directly owned 35,308 shares in the company, valued at approximately $1,175,050.24. This represents a 18.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have bought 85 shares of company stock worth $2,760. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

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

York Water Stock Performance

NASDAQ YORW opened at $34.08 on Tuesday. The business’s 50 day moving average price is $31.77 and its 200-day moving average price is $31.10. The York Water Company has a fifty-two week low of $28.26 and a fifty-two week high of $34.81. The company has a market cap of $553.12 million, a P/E ratio of 21.17 and a beta of 0.60. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.88 and a current ratio of 1.05.

York Water (NASDAQ:YORW) last issued its quarterly earnings results 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. York Water had a return on equity of 9.38% and a net margin of 28.53%.The company had revenue of $23.52 million during the quarter, compared to the consensus estimate of $22.18 million.

York Water Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.228 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.91 dividend on an annualized basis and a dividend yield of 2.7%. York Water’s payout ratio is currently 56.52%.

York Water 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.