The Manufacturers Life Insurance Company Takes Position in The York Water Company (NASDAQ:YORW)

The Manufacturers Life Insurance Company bought a new stake in The York Water Company (NASDAQ:YORW) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,422 shares of the utilities provider’s stock, valued at approximately $238,000.

Several other institutional investors and hedge funds have also bought and sold shares of YORW. Russell Investments Group Ltd. grew its holdings in York Water by 14.4% during the first 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 bought a new position in York Water during the first quarter valued at $330,000. Rhumbline Advisers grew its holdings in York Water by 35.0% during the second 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 grew its holdings in York Water by 18,424.0% during the second quarter. Nisa Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock valued at $173,000 after purchasing an additional 4,606 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its holdings in York Water by 237.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 6,106 shares of the utilities provider’s stock valued at $221,000 after purchasing an additional 4,294 shares during the period. 49.86% of the stock is owned by institutional investors.

York Water Price Performance

York Water stock opened at $37.92 on Friday. The York Water Company has a one year low of $33.32 and a one year high of $41.96. The business has a fifty day moving average price of $37.91 and a 200-day moving average price of $37.45. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.78 and a quick ratio of 0.61. The firm has a market capitalization of $544.53 million, a P/E ratio of 23.70 and a beta of 0.63.

York Water (NASDAQ:YORW) last posted its quarterly earnings results on Friday, August 2nd. The utilities provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.10). York Water had a return on equity of 10.32% and a net margin of 31.27%. The company had revenue of $18.75 million during the quarter, compared to the consensus estimate of $19.00 million. As a group, equities research analysts forecast that The York Water Company will post 1.43 EPS for the current year.

York Water Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.