In a recent transaction, Vernon L. Bracey, Vice President of Human Resources at York Water Co (NASDAQ:YORW), purchased shares of the company's common stock, reflecting continued confidence in the firm. The transaction, dated April 16, 2024, involved the acquisition of 26.469 shares at a price of $34.8054 per share, amounting to a total investment of $921.
Bracey's purchase is part of their ongoing investment in York Water Co, a company well-known for its water supply services. Following the transaction, Bracey now directly owns a total of 1,875.349 shares in the company. Notably, the shares acquired include those obtained through The York Water Company (NASDAQ:YORW) dividend reinvestment plan, as indicated by the footnotes in the filing.
Investors often monitor insider buying as it can signal executives' bullish views on their company's future prospects. Such transactions are publicly disclosed to ensure transparency and to provide the market with relevant information about insider activities.
York Water Co, headquartered in York, Pennsylvania, continues to be a significant player in the water supply industry, with its shares traded on the NASDAQ. The company's activities and insider transactions are closely watched by investors seeking to understand the actions of key executives and their implications for the company's stock performance.
InvestingPro Insights
Following the insider purchase by Vernon L. Bracey, York Water Co's (NASDAQ:YORW) commitment to long-term value creation can also be seen in its financial metrics and performance. With a market capitalization of approximately $478.19 million, York Water Co maintains a strong presence in the utilities sector.
InvestingPro Tips reveal that York Water Co has an impressive track record of raising its dividend for 27 consecutive years, demonstrating a reliable return to shareholders. Moreover, the company boasts a high gross profit margin of 75.56% over the last twelve months as of Q1 2023, which is indicative of its operational efficiency and pricing power in the water supply industry. These factors are essential considerations for investors looking at the long-term stability and profitability of the company.
From a valuation standpoint, York Water Co is currently trading at a P/E ratio of 20.13, which aligns with market expectations based on earnings over the last twelve months. However, investors should note that the company is trading near its 52-week low, with its price at the previous close being $33.33. This could represent a potential opportunity for those who believe in the company's fundamentals and are looking for an entry point into the stock.
For those interested in further insights and tips, there are additional InvestingPro Tips available at https://www.investing.com/pro/YORW. And for a more in-depth analysis, readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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