In a recent transaction, Joseph Thomas Hand, the CEO and President of York Water Co (NASDAQ:YORW), has increased his stake in the company by purchasing shares valued at approximately $9,870. This purchase reflects the executive’s confidence in the water utility company, which is known for providing water supply services.
The transaction, which took place on April 16, 2024, involved the acquisition of 283.596 shares of common stock at a price of $34.805 each. Following this purchase, Mr. Hand now directly owns a total of 30,515.3636 shares in York Water Co. Additionally, it is noted that shares acquired under The York Water Company (NASDAQ:YORW) dividend reinvestment plan are included in the total shares owned following the transaction.
This information, disclosed in a mandatory filing with the Securities and Exchange Commission, provides investors with insight into the trading activities of the company’s top executives. Such transactions are often closely monitored by market participants as they can signal leadership’s perspective on the company's current valuation and future prospects.
Investors in York Water Co can continue to track such transactions, as they offer a glimpse into the confidence levels of those who steer the company's strategic direction.
InvestingPro Insights
York Water Co's (NASDAQ:YORW) recent insider trading activity, with CEO Joseph Thomas Hand's purchase of shares, coincides with some notable financial metrics that could be of interest to investors. The company, which boasts a market capitalization of $481.63 million, is currently trading at a price-to-earnings (P/E) ratio of 20.1, which aligns closely with the adjusted P/E ratio for the last twelve months as of Q4 2023 at 20.13. This suggests that the stock is priced in accordance with its recent earnings performance.
One of the InvestingPro Tips for York Water Co highlights its impressive gross profit margins, which stand at a substantial 75.56% for the last twelve months as of Q4 2023. This is a key indicator of the company's ability to manage its production costs and pricing strategy effectively. Moreover, the company has raised its dividend for 27 consecutive years, reflecting a strong commitment to returning value to shareholders. This is further reinforced by the fact that York Water Co has maintained dividend payments for 51 consecutive years, indicating a reliable income stream for investors.
Investors considering York Water Co may find additional value in exploring the 6 more InvestingPro Tips available on the platform, which could provide deeper insights into the company's financial health and market position. To gain access to these tips, and to further enrich your investment strategy, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
It's also worth noting that the company's revenue has grown by 18.26% over the last twelve months as of Q4 2023, which could be a positive sign for investors looking for companies with growth potential. However, the company is trading near its 52-week low, which might present a buying opportunity for those who believe in the company's fundamentals and long-term prospects.
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