York Water Co (NASDAQ:YORW) director Steven R. Rasmussen has recently increased his stake in the company, according to the latest regulatory filings. Rasmussen purchased 28 shares of common stock at a price of $35.714 per share, totaling an investment of $999.
The transaction, which took place on March 20, 2024, was reported in a Form 4 filing with the Securities and Exchange Commission (SEC). Following the purchase, Rasmussen now directly owns a total of 3,840.454 shares in York Water Co, inclusive of those acquired under the company's dividend reinvestment plan, as indicated by the footnotes in the filing.
Investors often monitor insider transactions as they can provide insights into how corporate executives view the company's stock value and future prospects. The purchase by Rasmussen could be seen as a positive sign that the director is confident in the firm's trajectory and financial health.
York Water Co, based in York, Pennsylvania, specializes in water supply and has been serving its community for many years. The company's shares are publicly traded on the NASDAQ stock exchange under the ticker symbol YORW.
The regulatory filing did not include any sales of stock by the director, focusing solely on the recent acquisition. The Form 4 filing is a standard requirement for directors, officers, and owners of more than ten percent of a class of a company's securities to report their transactions in the company's shares.
InvestingPro Insights
Following the recent insider share purchase by director Steven R. Rasmussen, York Water Co (NASDAQ:YORW) investors may gain additional perspectives by considering key metrics and insights from InvestingPro. The company, with a market capitalization of $513.88 million USD, has demonstrated financial resilience and investor confidence.
One noteworthy InvestingPro Tip is York Water Co's impressive track record of raising its dividend for 27 consecutive years, a testament to its commitment to shareholder returns. Additionally, the company has maintained dividend payments for an impressive 51 consecutive years, underscoring its financial stability and operational consistency.
Analyzing the company's financial data, York Water Co boasts a strong gross profit margin of 75.56% for the last twelve months as of Q4 2023, indicating efficient cost management and a solid competitive position in the industry. Despite trading at a high P/E ratio of 21.37, which could suggest a premium valuation relative to near-term earnings growth, the company's profitability over the last twelve months and its recent revenue growth of 18.26% may justify investor optimism.
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