Bank of New York Mellon Corp Boosts Holdings in The York Water Company (YORW)

Bank of New York Mellon Corp boosted its holdings in shares of The York Water Company (NASDAQ:YORW) by 5.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 105,838 shares of the utilities provider’s stock after purchasing an additional 5,304 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.82% of The York Water worth $3,689,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. First Trust Advisors LP acquired a new position in shares of The York Water in the 2nd quarter worth approximately $3,107,000. Russell Investments Group Ltd. grew its position in shares of The York Water by 116.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 9,646 shares of the utilities provider’s stock worth $336,000 after acquiring an additional 5,183 shares in the last quarter. Vanguard Group Inc. grew its position in shares of The York Water by 23.4% in the 1st quarter. Vanguard Group Inc. now owns 624,439 shares of the utilities provider’s stock worth $21,887,000 after acquiring an additional 118,367 shares in the last quarter. California Public Employees Retirement System grew its position in shares of The York Water by 49.6% in the 1st quarter. California Public Employees Retirement System now owns 35,000 shares of the utilities provider’s stock worth $1,301,000 after acquiring an additional 11,600 shares in the last quarter. Finally, First Midwest Bank Trust Division boosted its position in The York Water by 3.9% during the 2nd quarter. First Midwest Bank Trust Division now owns 10,164 shares of the utilities provider’s stock valued at $354,000 after purchasing an additional 386 shares during the period. Institutional investors own 35.39% of the company’s stock.

The York Water Company (YORW) opened at 36.80 on Tuesday. The firm’s 50-day moving average price is $34.03 and its 200-day moving average price is $34.64. The firm has a market cap of $472.77 million, a price-to-earnings ratio of 39.57 and a beta of 0.58. The York Water Company has a 12 month low of $28.85 and a 12 month high of $39.86.

The York Water (NASDAQ:YORW) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The firm had revenue of $12.30 million for the quarter, compared to analysts’ expectations of $12.21 million. The York Water had a net margin of 25.05% and a return on equity of 10.52%. The company’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Equities research analysts predict that The York Water Company will post $0.96 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.74%. The York Water’s payout ratio is presently 68.82%.

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A number of research firms recently issued reports on YORW. BidaskClub lowered The York Water from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered The York Water from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th.

The York Water Profile

The York Water Company is an investor-owned water utility in the United States. The primary business of the Company is to impound, purify to meet or exceed safe drinking water standards and distribute water. As of December 31, 2016, it also owned and operated three wastewater collection systems and two wastewater treatment systems.

Institutional Ownership by Quarter for The York Water (NASDAQ:YORW)

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