Alliancebernstein L.P. Has $375,000 Stake in The York Water Company (NASDAQ:YORW)
Alliancebernstein L.P. raised its position in The York Water Company (NASDAQ:YORW) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,708 shares of the utilities provider’s stock after buying an additional 640 shares during the period. Alliancebernstein L.P.’s holdings in The York Water were worth $375,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. acquired a new position in shares of The York Water during the first quarter worth about $156,000. Karp Capital Management Corp acquired a new position in shares of The York Water during the first quarter worth about $206,000. Stifel Financial Corp acquired a new position in shares of The York Water during the first quarter worth about $233,000. American International Group Inc. raised its position in shares of The York Water by 7.0% in the first quarter. American International Group Inc. now owns 7,913 shares of the utilities provider’s stock worth $277,000 after buying an additional 516 shares during the period. Finally, Concert Wealth Management Inc. acquired a new position in shares of The York Water during the first quarter worth about $283,000. Institutional investors own 34.73% of the company’s stock.
Shares of The York Water Company (NASDAQ YORW) traded down 2.38% on Friday, reaching $32.75. The company’s stock had a trading volume of 28,107 shares. The stock has a market capitalization of $420.74 million, a price-to-earnings ratio of 35.22 and a beta of 0.57. The York Water Company has a 52 week low of $27.68 and a 52 week high of $39.86. The stock has a 50-day moving average of $34.85 and a 200 day moving average of $35.07.
The York Water (NASDAQ:YORW) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. The York Water had a return on equity of 10.52% and a net margin of 25.05%. The firm had revenue of $12.30 million during the quarter, compared to analysts’ expectations of $12.21 million. During the same period last year, the firm posted $0.23 EPS. The business’s revenue was up 4.2% on a year-over-year basis. On average, analysts expect that The York Water Company will post $0.96 EPS for the current year.
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A number of research analysts have issued reports on the company. Zacks Investment Research upgraded The York Water from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Tuesday, June 6th. BidaskClub lowered The York Water from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st.
About The York Water
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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