In a recent transaction filed with the Securities and Exchange Commission, Steven R. Rasmussen, a director at York Water Co (NASDAQ:YORW), purchased shares of the company's common stock. The transaction, dated May 20, 2024, involved the acquisition of shares valued at approximately $1,000, at a price of $38.484 per share.
This purchase increases Rasmussen's holdings in the water utility company, which is known for supplying water in Pennsylvania. Following the transaction, Rasmussen's total ownership in York Water Co includes shares acquired under the company's dividend reinvestment plan, as noted in the filing's footnotes.
Investors often keep an eye on insider transactions such as these, as they can provide insights into the executives' confidence in the company's future performance. The details of the transaction are made public as part of the company's regulatory filings, offering transparency into the trading activities of the company's directors and executives.
The York Water Co, with its significant role in the water supply industry, continues to be a point of interest for investors monitoring the utilities sector. Transactions like the one executed by Director Rasmussen contribute to the ongoing narrative of insider confidence in the company's value and prospects.
InvestingPro Insights
Following the recent insider purchase by Director Steven R. Rasmussen, York Water Co (NASDAQ:YORW) continues to demonstrate financial metrics that may intrigue investors. With a market capitalization of $545.67 million and a price-to-earnings (P/E) ratio standing at 22.3, the company shows stability in its valuation. Notably, this P/E ratio is aligned with the company's near-term earnings growth, suggesting that the stock is trading at a reasonable valuation relative to its earnings potential.
The company's robust gross profit margin, which reached an impressive 75.34% in the last twelve months as of Q1 2024, indicates efficient management and a strong competitive position within the utilities sector. Moreover, York Water Co has a commendable record of increasing its dividend for 27 consecutive years, a testament to its commitment to returning value to shareholders. This consistent dividend growth, along with a dividend yield of 2.22%, may appeal to income-focused investors.
For those interested in further insights, there are additional InvestingPro Tips available at InvestingPro. By subscribing, investors can access a total of 7 InvestingPro Tips for York Water Co, including a deeper analysis of the company's low price volatility and its high revenue valuation multiple. To enhance your investment research experience, use the promotional code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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