York Water (NASDAQ:YORW) Stock Price Breaks Above 200-Day Moving Average – Should You Sell?

Shares of The York Water Company (NASDAQ:YORW) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $31.08 and traded as high as $31.33. York Water shares last traded at $30.97, with a volume of 216,439 shares traded.

Analysts Set New Price Targets

Several brokerages recently issued reports on YORW. Weiss Ratings raised York Water from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Cantor Fitzgerald set a $31.00 price target on York Water in a report on Monday, August 10th. One research analyst has rated the stock with a Hold rating. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $31.00.

York Water Stock Up 0.3%

The firm has a market capitalization of $504.10 million, a price-to-earnings ratio of 19.29 and a beta of 0.56. The company has a quick ratio of 0.88, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The company’s 50 day moving average price is $32.52 and its 200 day moving average price is $31.08.

York Water (NASDAQ:YORW) last released its earnings results on Thursday, August 6th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.09. The firm had revenue of $23.52 million for the quarter, compared to the consensus estimate of $22.18 million. York Water had a return on equity of 9.38% and a net margin of 28.53%.

York Water Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.2280 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.91 dividend on an annualized basis and a yield of 2.9%. York Water’s dividend payout ratio is currently 56.52%.

Insiders Place Their Bets

In other York Water news, CEO Joseph Hand sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $33.28, for a total transaction of $266,240.00. Following the completion of the transaction, the chief executive officer directly owned 35,308 shares of the company’s stock, valued at approximately $1,175,050.24. This trade represents a 18.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have purchased 90 shares of company stock valued at $3,011. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of York Water

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP acquired a new position in York Water during the second quarter valued at $29,000. Integrated Wealth Concepts LLC purchased a new position in shares of York Water during the 2nd quarter valued at about $46,000. Cetera Investment Advisers lifted its holdings in shares of York Water by 8.7% in the 1st quarter. Cetera Investment Advisers now owns 8,953 shares of the utilities provider’s stock valued at $273,000 after buying an additional 718 shares during the period. Ieq Capital LLC acquired a new position in shares of York Water in the 2nd quarter valued at about $383,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of York Water in the second quarter worth about $395,000. Institutional investors and hedge funds own 49.86% of the company’s stock.

About York Water

The York Water Company (NASDAQ:YORW) is a regulated water utility that provides water and wastewater services to residential, commercial, and industrial customers in south-central Pennsylvania. Its operations include the collection, treatment, storage, and distribution of water, as well as wastewater collection and treatment services.

Founded in 1816, York Water is recognized as the oldest continuously operating investor-owned water utility in the United States. The company has expanded its service area over time through infrastructure development and acquisitions, while continuing to focus on maintaining and upgrading its water and wastewater systems.

York Water primarily serves communities in York, Adams, and surrounding counties in Pennsylvania.