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

The York Water Company (NASDAQ:YORW - Get Free Report) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 131,700 shares, an increase of 24.2% from the September 30th total of 106,000 shares. Based on an average daily volume of 39,900 shares, the days-to-cover ratio is presently 3.3 days.

Institutional Trading of York Water

A number of hedge funds and other institutional investors have recently bought and sold shares of YORW. Russell Investments Group Ltd. raised its position in shares of York Water by 14.4% in the first quarter. Russell Investments Group Ltd. now owns 122,388 shares of the utilities provider's stock worth $4,439,000 after buying an additional 15,362 shares in the last quarter. Orrstown Financial Services Inc. bought a new position in shares of York Water in the third quarter worth approximately $445,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of York Water during the 2nd quarter worth $339,000. State Board of Administration of Florida Retirement System purchased a new position in York Water in the first quarter worth $330,000. Finally, Rhumbline Advisers raised its holdings in shares of York Water by 35.0% during the 2nd quarter. Rhumbline Advisers now owns 25,123 shares of the utilities provider's stock valued at $932,000 after buying an additional 6,519 shares in the last quarter. Institutional investors own 49.86% of the company's stock.

Analysts Set New Price Targets

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

York Water Stock Performance

Shares of NASDAQ:YORW traded up $0.31 during mid-day trading on Monday, reaching $35.86. The company had a trading volume of 38,430 shares, compared to its average volume of 53,336. The company's 50-day moving average price is $37.74 and its 200-day moving average price is $37.54. York Water has a one year low of $33.32 and a one year high of $41.96. The firm has a market cap of $514.95 million, a price-to-earnings ratio of 22.22 and a beta of 0.63. The company has a current ratio of 0.78, a quick ratio of 0.61 and a debt-to-equity ratio of 0.85.

York Water (NASDAQ:YORW - Get Free Report) last announced 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). The business had revenue of $18.75 million for the quarter, compared to analysts' expectations of $19.00 million. York Water had a net margin of 31.27% and a return on equity of 10.32%. As a group, equities research analysts anticipate that York Water will post 1.43 EPS for the current fiscal year.

York Water Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.2108 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.35%. York Water's dividend payout ratio (DPR) is currently 52.50%.

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.