Zacks Investment Research upgraded shares of The York Water Company (NASDAQ:YORW) from a hold rating to a buy rating in a report released on Friday morning. Zacks Investment Research currently has $39.00 target price on the utilities provider’s stock.
According to Zacks, “The York Water Company impounds, purifies and distributes water. They are regulated by the Pennsylvania Public Utility Commission in the areas of billing, payment procedures, dispute processing, terminations, service territory, and rate setting. They must obtain PPUC approval before changing any of the aforementioned procedures. “
Separately, BidaskClub lowered shares of The York Water from a hold rating to a sell rating in a research note on Tuesday, August 1st.
The York Water (NASDAQ:YORW) last issued its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.03. The York Water had a net margin of 25.75% and a return on equity of 10.75%. The company had revenue of $12.69 million during the quarter. equities research analysts forecast that The York Water will post 0.99 earnings per share for the current year.
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Several hedge funds have recently modified their holdings of YORW. Principal Financial Group Inc. boosted its holdings in The York Water by 45.9% in the 2nd quarter. Principal Financial Group Inc. now owns 18,101 shares of the utilities provider’s stock worth $631,000 after buying an additional 5,693 shares during the period. First Trust Advisors LP bought a new position in The York Water in the 2nd quarter worth approximately $3,107,000. Russell Investments Group Ltd. boosted its holdings in The York Water by 116.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 9,646 shares of the utilities provider’s stock worth $336,000 after buying an additional 5,183 shares during the period. Vanguard Group Inc. boosted its holdings in The York Water by 23.4% in the 1st quarter. Vanguard Group Inc. now owns 624,439 shares of the utilities provider’s stock worth $21,887,000 after buying an additional 118,367 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in The York Water by 49.6% in the 1st quarter. California Public Employees Retirement System now owns 35,000 shares of the utilities provider’s stock worth $1,301,000 after buying an additional 11,600 shares during the period. Institutional investors own 35.10% of the company’s stock.
The York Water Company Profile
The York Water Company is an investor-owned water utility in the United States. The primary business of the Company is to impound, purify to meet or exceed safe drinking water standards and distribute water. As of December 31, 2016, it also owned and operated three wastewater collection systems and two wastewater treatment systems.
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