York Water Co (NASDAQ:YORW) director Steven R. Rasmussen recently purchased company shares valued at approximately $999, according to a new SEC filing. The transaction, which took place on April 22, involved the acquisition of 29.418 shares at a price of $33.9925 each.
This recent purchase by Rasmussen is part of his investment in the water supply company based in York, Pennsylvania. Following the transaction, the director now owns a total of 3,893.703 shares in York Water Co. Notably, this total includes shares acquired under The York Water Company (NASDAQ:YORW) dividend reinvestment plan, as indicated by a footnote in the SEC filing.
Investors often monitor insider transactions such as this one for insights into the confidence that company executives and directors have in the business's prospects. While the transaction itself may not be large in terms of dollar value, it can still signal positive sentiment from a member of the company's leadership.
The stock purchase by Rasmussen reflects ongoing insider activity at York Water Co, which serves as a key indicator for investors keeping an eye on the company's stock. As of now, there have been no reported sales by insiders, which could further imply a positive outlook among those closest to the company's operations.
Shares of YORK WATER CO are publicly traded on the NASDAQ stock exchange under the ticker symbol YORW. Investors and analysts will continue to watch insider buying and selling patterns as part of their assessment of the company's financial health and future performance.
InvestingPro Insights
In light of the recent insider transaction at York Water Co (NASDAQ:YORW), where director Steven R. Rasmussen increased his stake in the company, several metrics and InvestingPro Tips can provide additional context for investors considering the company's financial health and future prospects.
InvestingPro Data indicates that York Water Co has a market capitalization of approximately $508 million USD, with a Price/Earnings (P/E) ratio of 21.37. This is reflective of the company's valuation in the market and suggests investors are willing to pay $21.37 for every dollar of earnings. Additionally, York Water Co's revenue for the last twelve months as of Q4 2023 stood at $71.03 million USD, with a significant gross profit margin of 75.56%, indicating robust profitability at the gross level.
From the perspective of dividend reliability, one of the InvestingPro Tips highlights York Water Co's impressive track record of raising its dividend for 27 consecutive years, which may appeal to income-focused investors. Another tip points out that the company has maintained dividend payments for an even longer period of 51 consecutive years, further underscoring its commitment to returning value to shareholders.
While the company's short-term obligations exceeding liquid assets may raise some liquidity concerns, the fact that York Water Co is trading near its 52-week low could present a potential entry point for investors, as noted in another InvestingPro Tip.
For those interested in exploring more about York Water Co, there are additional InvestingPro Tips available at https://www.investing.com/pro/YORW. To enrich your investment decision-making with these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. In total, there are six more InvestingPro Tips listed, providing a comprehensive analysis of the company's financials and market position.
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