The York Water Company Continues to Attract Investors in 2023
On June 11th, 2023, one of the country’s prominent investment firms, Palisade Capital Management LLC NJ, made a strategic decision to purchase a position in The York Water Company (NASDAQ:YORW). This move indicates that investors are still keen on buying shares from this leading provider of water impounding, purification, and distribution services.
Based in York, Pennsylvania, The York Water Company is the oldest publicly traded water utility in the United States. It has been operating since 1816 and has earned its reputation as a reliable supplier of clean water. Its wastewater collection systems and treatment facilities are also notable features of the company’s offering.
Palisade Capital Management LLC NJ’s purchase of 4,600 shares valued at approximately $207k demonstrates their confidence in The York Water Company’s performance. Notably, this comes amid an uptick in demand for safe drinking water amid concerns around water contamination and environmental crises caused by climate change.
As the stock market opens on Friday, YORW shares opened at $44.92. The company’s overall performance has remained steady with a 50-day simple moving average of $43.66 and a two-hundred day simple moving average of $44.53. Despite having a debt-to-equity ratio of 0.72, current ratio of 0.85 and quick ratio of 0.67; YORW maintains its stronghold among utilities providers with its remarkable market capitalization of $642.36 million.
Investors are attracted to The York Water Company not only because it offers an essential service but also because its recent financial statements indicate steady growth over recent years compared to industry benchmarks.
While uncertainty prevails about future economic developments amidst Covid-19 pandemic after-effects that affect every sector unevenly; options exist to create financially sound decisions despite the circumstances’ constraints. In light of this, stocks like those of The York Water Company could provide investors with the stability they aspire to tide over working through the market volatility. YORW’s share price has varied over the past year between its lowest at $36.85 and prior peak at $47.23.
In conclusion, it appears that The York Water Company continues to attract investors in 2023 due to its stable growth indicators as well as interest in their ability to provide an essential service. Investors may seek to consider putting YORW on their watchlist as a stock that exhibits steady performance and shows promise for future steady gains in a reliable sector that seem unaffected by broader economic fluctuations of 2023.
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Institutional Investors Show Strong Interest in York Water as Company Continues to Expand
York Water, headquartered in York, PA, is a company that engages in impounding, purifying, and distribution of drinking water. It also operates wastewater collection and treatment systems. Recently, several institutional investors have made changes to their positions in the company. Vanguard Group Inc. raised its position by 6.8% during the third quarter, owning 905,176 shares worth $34,786,000 after purchasing an additional 57,945 shares during the period. Dimensional Fund Advisors LP lifted its stake by 3.1% during the fourth quarter and State Street Corp boosted its holdings by 4.3% during the third quarter. Geode Capital Management LLC grew its position by 3.6% during the fourth quarter; while Renaissance Technologies LLC increased its stake by 16.8% during the first quarter.
Institutional investors now own nearly half (46.68%) of York Water’s stock prompting StockNews.com to assume coverage on shares of York Water in a report released on May 18th where they issued a “hold” rating on the stock.
York Water’s recent earnings results for Q1 were reported last month with $0.26 EPS which met analysts’ consensus estimates of $0.26.The company had revenue of $15.40 million with a return on equity of 9.44% and a net margin of 31.65%. Looking ahead for FY2023 analysts anticipate that The York Water Company will post $1.51 EPS for the current fiscal year.
The firm announced yesterday that it will pay a quarterly dividend of $0.2027 on July 14th giving shareholders until Friday (June30) to buy shares before being eligible for this dividend payout.This represents an annualized basis payout of $0.81 and dividend yield of 1.80%. The ex-dividend date is set as June29th showing a current dividend payout ratio of 59.12%.
York Water’s business focuses on continually providing fresh, clean water to its 51K+ residential and commercial customers. It has expanded in recent years through acquiring local competitors and expanding its operations into new regions. Given its consistent profitability and reliable dividend payment history, investors may want to consider including York Water in their portfolio.
