In a recent transaction, Joseph Thomas Hand, CEO and President of York Water Co (NASDAQ:YORW), has expanded his investment in the company through the purchase of additional shares. The executive bought 20 shares at a price of $36.1 each, totaling $722.
The transaction, dated June 12, 2024, was disclosed in a regulatory filing with the Securities and Exchange Commission. Following the purchase, Hand's direct holdings in York Water Co have increased, reflecting his continued commitment to the company's future.
York Water Co, which operates within the water supply sector, has a history of executives participating in the company's dividend reinvestment plan, as indicated by the footnotes in the filing. This plan allows for the automatic acquisition of additional shares when dividends are paid out, demonstrating a reinvestment of profits back into the company.
Investors often look to insider transactions as an indicator of confidence in the company's performance and prospects. The recent purchase by Hand aligns with this perspective, as the CEO's increased stake can be seen as a positive sign for the company's trajectory.
The filing was signed on behalf of Hand by Molly Elizabeth Houck, Assistant Secretary by Power of Attorney, on June 13, 2024. Investors and analysts will continue to monitor insider activity for insights into the company's performance and strategic direction.
InvestingPro Insights
As York Water Co's (NASDAQ:YORW) CEO Joseph Thomas Hand reinforces his belief in the company with the recent stock purchase, the broader investment community may be interested in key metrics that underline the company's financial health and market position. York Water Co's commitment to shareholder returns is evident, with the company having raised its dividend for 27 consecutive years. This is a testament to its stable financial performance and dedication to its shareholders.
According to InvestingPro data, York Water Co boasts a market capitalization of $517.41 million and trades at a P/E ratio of 21.2, reflecting its earnings relative to its share price. Notably, the company's PEG ratio, which measures the price of a stock relative to its earnings growth, stands at an attractive 0.85 for the last twelve months as of Q1 2024. This suggests that the stock may be undervalued given its growth potential. Additionally, York Water Co has demonstrated impressive gross profit margins of 75.34% over the same period, underscoring its ability to efficiently manage costs and maximize profitability.
For those seeking deeper insights and additional strategic perspectives, there are more InvestingPro Tips available for York Water Co. These include an analysis of the company's low price volatility and its high revenue valuation multiple. With a total of 7 additional InvestingPro Tips accessible, investors can gain a comprehensive understanding of the company's financial nuances and market dynamics.
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