The York Water Company (NASDAQ:YORW) Sees Large Decline in Short Interest

The York Water Company (NASDAQ:YORW) saw a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 145,400 shares, a drop of 20.8% from the February 28th total of 183,700 shares. Based on an average trading volume of 71,600 shares, the days-to-cover ratio is presently 2.0 days. Currently, 1.0% of the company’s shares are sold short.

York Water Price Performance

NASDAQ:YORW opened at $34.80 on Wednesday. York Water has a 52 week low of $29.86 and a 52 week high of $41.96. The stock’s fifty day moving average is $32.90 and its two-hundred day moving average is $34.40. The company has a market capitalization of $500.74 million, a P/E ratio of 23.51 and a beta of 0.61. The company has a quick ratio of 0.68, a current ratio of 0.88 and a debt-to-equity ratio of 0.87.

York Water (NASDAQ:YORW) last issued its quarterly earnings data on Tuesday, March 4th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $18.87 million during the quarter, compared to analysts’ expectations of $19.00 million. York Water had a net margin of 28.57% and a return on equity of 9.44%. Equities analysts expect that York Water will post 1.43 EPS for the current year.

York Water Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, February 28th will be issued a $0.2192 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.52%. York Water’s dividend payout ratio is currently 61.27%.

Institutional Trading of York Water

Several institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its stake in York Water by 2.5% during the third 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 in the last quarter. D.A. Davidson & CO. acquired a new position in York Water during the 3rd quarter worth about $341,000. FMR LLC lifted its stake in York Water by 79.9% during the 3rd quarter. FMR LLC now owns 7,271 shares of the utilities provider’s stock worth $272,000 after acquiring an additional 3,229 shares in the last quarter. PDT Partners LLC boosted its holdings in York Water by 7.0% during the 3rd quarter. PDT Partners LLC now owns 10,136 shares of the utilities provider’s stock valued at $380,000 after acquiring an additional 663 shares during the period. Finally, State Street Corp grew its position in York Water by 9.4% in the 3rd quarter. State Street Corp now owns 473,568 shares of the utilities provider’s stock valued at $17,835,000 after acquiring an additional 40,746 shares in the last quarter. Institutional investors and hedge funds own 49.86% of the company’s stock.

About York Water

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.