Penn Capital Management Company LLC Has $2.88 Million Position in The York Water Company $YORW

Penn Capital Management Company LLC lifted its holdings in shares of The York Water Company (NASDAQ:YORW) by 59.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 94,612 shares of the utilities provider’s stock after purchasing an additional 35,447 shares during the period. Penn Capital Management Company LLC’s holdings in York Water were worth $2,878,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in YORW. Arrowstreet Capital Limited Partnership raised its position in York Water by 204.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 194,436 shares of the utilities provider’s stock worth $5,915,000 after purchasing an additional 130,613 shares during the last quarter. Legal & General Group Plc raised its holdings in York Water by 46.1% during the 3rd quarter. Legal & General Group Plc now owns 379,692 shares of the utilities provider’s stock worth $11,550,000 after purchasing an additional 119,809 shares during the last quarter. Two Sigma Investments LP raised its holdings in York Water by 66.1% during the 3rd quarter. Two Sigma Investments LP now owns 131,581 shares of the utilities provider’s stock worth $4,003,000 after purchasing an additional 52,376 shares during the last quarter. Principal Financial Group Inc. acquired a new position in York Water during the 3rd quarter valued at about $1,338,000. Finally, Teton Advisors LLC bought a new position in shares of York Water in the 3rd quarter valued at about $1,100,000. Institutional investors and hedge funds own 49.86% of the company’s stock.

York Water Trading Down 1.3%

NASDAQ:YORW opened at $31.15 on Wednesday. The York Water Company has a 1-year low of $29.68 and a 1-year high of $36.48. The business’s 50-day moving average price is $32.79 and its two-hundred day moving average price is $32.07. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $450.12 million, a price-to-earnings ratio of 22.41 and a beta of 0.73.

York Water (NASDAQ:YORW) last posted its earnings results on Tuesday, March 3rd. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.04. The company had revenue of $19.47 million during the quarter, compared to analyst estimates of $20.00 million. York Water had a return on equity of 8.49% and a net margin of 25.89%. On average, equities analysts expect that The York Water Company will post 1.43 earnings per share for the current year.

York Water Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, February 27th will be issued a dividend of $0.228 per share. The ex-dividend date is Friday, February 27th. This represents a $0.91 dividend on an annualized basis and a yield of 2.9%. York Water’s payout ratio is currently 65.47%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on YORW. Weiss Ratings reiterated a “hold (c)” rating on shares of York Water in a research report on Monday, December 29th. Wall Street Zen raised shares of York Water from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

About York Water

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.