The Manufacturers Life Insurance Company Takes $238,000 Position in The York Water Company (NASDAQ:YORW)

The Manufacturers Life Insurance Company acquired a new stake in The York Water Company (NASDAQ:YORW) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 6,422 shares of the utilities provider’s stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in YORW. Russell Investments Group Ltd. lifted its stake in shares of York Water by 14.4% in the 1st quarter. Russell Investments Group Ltd. now owns 122,388 shares of the utilities provider’s stock valued at $4,439,000 after purchasing an additional 15,362 shares during the period. State Board of Administration of Florida Retirement System acquired a new position in shares of York Water in the 1st quarter valued at about $330,000. Rhumbline Advisers lifted its stake in shares of York Water by 35.0% in the 2nd quarter. Rhumbline Advisers now owns 25,123 shares of the utilities provider’s stock valued at $932,000 after purchasing an additional 6,519 shares during the period. Nisa Investment Advisors LLC raised its stake in York Water by 18,424.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock worth $173,000 after buying an additional 4,606 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its stake in York Water by 237.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 6,106 shares of the utilities provider’s stock worth $221,000 after buying an additional 4,294 shares during the period. 49.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com raised York Water from a “sell” rating to a “hold” rating in a research note on Friday, August 30th.

York Water Stock Up 0.3 %

YORW stock opened at $37.92 on Friday. The stock’s 50 day simple moving average is $37.91 and its 200 day simple moving average is $37.45. The York Water Company has a fifty-two week low of $33.32 and a fifty-two week high of $41.96. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.61 and a current ratio of 0.78. The company has a market cap of $544.53 million, a P/E ratio of 23.70 and a beta of 0.63.

York Water (NASDAQ:YORW) last issued its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.10). The company had revenue of $18.75 million during the quarter, compared to analysts’ expectations of $19.00 million. York Water had a return on equity of 10.32% and a net margin of 31.27%. On average, research analysts expect that The York Water Company will post 1.43 earnings per share for the current fiscal year.

York Water Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.2108 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Monday, September 30th. York Water’s dividend payout ratio (DPR) is presently 52.50%.

York Water Company Profile

The York Water Company impounds, purifies, and distributes drinking water. It owns and operates three wastewater collection systems; ten wastewater collection and treatment systems; and two reservoirs, including Lake Williams and Lake Redman, which hold approximately 2.2 billion gallons of water. The company also operates a 15-mile pipeline from the Susquehanna River to Lake Redman; and owns satellite groundwater systems in York, Adams, and Lancaster Counties, as well as two impounding dams on primary system located in York and Springfield Townships.