The Manufacturers Life Insurance Company reduced its holdings in shares of The York Water Company (NASDAQ:YORW – Free Report) by 12.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,593 shares of the utilities provider’s stock after selling 829 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in York Water were worth $210,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in YORW. Charles Schwab Investment Management Inc. boosted its position in York Water by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 116,666 shares of the utilities provider’s stock worth $4,370,000 after purchasing an additional 2,828 shares during the period. Rhumbline Advisers lifted its stake in shares of York Water by 35.0% during the second quarter. Rhumbline Advisers now owns 25,123 shares of the utilities provider’s stock worth $932,000 after purchasing an additional 6,519 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of York Water by 16.2% in the second quarter. AQR Capital Management LLC now owns 23,634 shares of the utilities provider’s stock worth $877,000 after buying an additional 3,294 shares during the period. Orrstown Financial Services Inc. acquired a new stake in shares of York Water in the third quarter valued at about $445,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of York Water during the 2nd quarter valued at about $339,000. Institutional investors and hedge funds own 49.86% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, StockNews.com upgraded York Water from a “sell” rating to a “hold” rating in a report on Friday, August 30th.
York Water Price Performance
YORW opened at $34.82 on Tuesday. The York Water Company has a twelve month low of $33.32 and a twelve month high of $41.96. The firm has a market cap of $500.36 million, a price-to-earnings ratio of 23.53 and a beta of 0.63. The company has a current ratio of 0.88, a quick ratio of 0.68 and a debt-to-equity ratio of 0.87. The company has a fifty day simple moving average of $35.98 and a 200 day simple moving average of $37.38.
York Water Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.2192 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.52%. This is a positive change from York Water’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, December 31st. York Water’s payout ratio is presently 56.76%.
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.
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