In a recent transaction, Alexandra C. Chiaruttini, the Chief Accounting Officer and General Counsel of York Water Co (NASDAQ:YORW), purchased shares of the company's common stock, signaling a vote of confidence in the firm's prospects. The transaction, which occurred on April 16, 2024, involved Chiaruttini acquiring 37.813 shares at a price of $34.3805 per share, amounting to a total investment of approximately $1,300.
This purchase adds to Chiaruttini's existing holdings in the company, bringing her total ownership to 2,410.373 shares. It's worth noting that the reported shares include those acquired under The York Water Company (NASDAQ:YORW)'s dividend reinvestment plan, which allows shareholders to reinvest their cash dividends in additional shares of the company's stock.
Investors often monitor insider transactions such as these, as they can provide insights into the executive's view of the company's value and future performance. The acquisition by a high-ranking executive like Chiaruttini could be interpreted as a positive indicator by the market.
York Water Co, based in York, Pennsylvania, is known for its involvement in the water supply sector, providing a critical service to its community. The company's shares are traded on the NASDAQ, and it has a long history of operations within the state.
The filing was signed on behalf of Chiaruttini by Molly Elizabeth Houck, Assistant Secretary by Power of Attorney, on April 17, 2024. As with all insider transactions, this purchase was publicly disclosed in compliance with SEC regulations, providing transparency for investors and the market.
InvestingPro Insights
In light of Alexandra C. Chiaruttini's recent stock purchase, investors looking at York Water Co (NASDAQ:YORW) might find the following InvestingPro Data and Tips particularly enlightening:
InvestingPro Data highlights:
- The company has a market capitalization of $478.19 million, reflecting its value in the eyes of the market.
- With a P/E Ratio of 20.13, YORW is trading at a level that suggests investors are expecting earnings growth, albeit at a rate that is high relative to the market average.
- A strong gross profit margin of 75.56% over the last twelve months as of Q4 2023 indicates the company's efficiency in managing its direct costs relative to its revenue.
InvestingPro Tips to consider:
1. York Water Co has demonstrated a commitment to shareholder returns, having raised its dividend for 27 consecutive years and maintained dividend payments for 51 consecutive years, which could be a sign of the company's financial stability and management's confidence in its future.
2. The company is trading near its 52-week low, which might suggest a potential opportunity for investors looking for an entry point into a traditionally stable sector.
For those interested in a deeper analysis, there are additional InvestingPro Tips available, which could further inform your investment decisions. Subscribers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. Discover more at https://www.investing.com/pro/YORW, where you can find a total of 7 InvestingPro Tips that could provide a more comprehensive understanding of York Water Co's financial health and market position.
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