In a recent transaction, Matthew E. Poff, the Chief Financial Officer of York Water Co (NASDAQ:YORW), acquired shares of the company's common stock. The transaction, dated July 16, 2024, involved the purchase of shares for a total value of $129 at a price of $35.3424 per share.
This move by Poff adds to his holdings in the company, reflecting a continued commitment to York Water Co. The shares were acquired under The York Water Company (NASDAQ:YORW)'s dividend reinvestment plan, which allows shareholders to invest dividend payments back into additional shares of the company's stock.
Following the transaction, Poff now owns a total of 6,713.481 shares of York Water Co. This information comes from the latest Form 4 filing with the Securities and Exchange Commission, which provides transparency into the trading activities of the company's officers and directors.
Investors often monitor these insider transactions as they can provide insights into the executive's view of the company's current valuation and future prospects. However, these transactions are just one of many factors that investors may consider when making investment decisions.
The acquisition by the CFO of York Water Co showcases a positive signal to the market, as executives who increase their stakes in their own companies are generally seen as confident in the firm's future performance.
InvestingPro Insights
The recent insider acquisition by Matthew E. Poff, CFO of York Water Co (NASDAQ:YORW), is a noteworthy event for investors and market onlookers. Poff's purchase aligns with the company's history of strong financial metrics and shareholder-friendly practices. According to InvestingPro data, York Water Co boasts a solid market capitalization of $587.7 million USD, and an attractive P/E ratio of 23.99, which adjusts slightly to 23.74 when looking at the last twelve months as of Q1 2024. This indicates a company that is reasonably valued relative to its earnings.
InvestingPro Tips reveal that York Water Co has raised its dividend for an impressive 27 consecutive years, highlighting a commitment to returning value to shareholders. Additionally, the company stands out with its gross profit margins, which have been reported at a robust 75.34% for the last twelve months as of Q1 2024. These figures suggest that York Water Co is efficiently managing its cost of goods sold, a positive sign for potential investors.
Moreover, the company's stock has seen a strong return over the last three months, with a price total return of 19.7%. This performance could be a reflection of the company's solid fundamentals and the confidence insiders like Poff have in its trajectory. Those interested in exploring more about York Water Co's financial health and future prospects can find additional InvestingPro Tips at https://www.investing.com/pro/YORW. For a deeper dive into the company's analytics and to access all the available tips, consider using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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