York water co VP Mark Snyder acquires $325 in stock

Mark Snyder, Vice President of Engineering at York Water Co (NASDAQ:YORW), recently acquired shares of the company’s common stock. According to a filing with the Securities and Exchange Commission, Snyder purchased 9.166 shares at a price of $35.4588 per share, totaling approximately $325. This transaction adds to Snyder's holdings, bringing his total to 3,958.897 shares. The acquisition was made under York Water Company's dividend reinvestment plan.

In other recent news, The York Water Company (NASDAQ:YORW) has seen significant changes to its board of directors. The utility company recently announced the retirement of Ernest J. Waters (NYSE:WAT), who served on the board for over 17 years. This move aligns with the company's retirement policy, ensuring board renewal and compliance with corporate governance guidelines.

In a related development, The York Water Company has appointed Robert F. Lambert as a new independent director. Lambert, currently serving as the president of York County Libraries, is expected to provide valuable insights and guidance to the company. He will also serve on the Board's Audit Committee until the 2025 Annual Meeting of Shareholders.

These are among the recent developments at The York Water Company, indicating a period of executive changes. Investors can anticipate further announcements regarding board composition and subsequent appointments. The company's commitment to transparency and regulatory compliance is evident in these board adjustments.

InvestingPro Insights

Mark Snyder's recent purchase of York Water Co (NASDAQ:YORW) shares aligns with the company's strong financial position and consistent dividend performance. According to InvestingPro data, York Water boasts a market capitalization of $546.33 million and has demonstrated impressive revenue growth of 12.52% over the last twelve months as of Q2 2024.

InvestingPro Tips highlight York Water's commitment to shareholder returns, noting that the company has raised its dividend for 27 consecutive years and has maintained dividend payments for an impressive 51 consecutive years. This long-standing dividend history may have influenced Snyder's decision to participate in the dividend reinvestment plan.

The company's financial health is further underscored by its robust gross profit margin of 74.31% for the last twelve months ending Q2 2024, reflecting efficient operations and strong pricing power in its market. This efficiency translates to a solid operating income margin of 39.05% for the same period.

While York Water's P/E ratio of 23.76 suggests a premium valuation, it's worth noting that the company's consistent performance and dividend growth may justify this higher multiple. Investors seeking more comprehensive analysis can access additional InvestingPro Tips, with 7 more tips available on the InvestingPro platform for a deeper understanding of York Water's investment potential.

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