Russell Investments Group Ltd. decreases its position in Northwest Natural Holding (NYSE:NWN)

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Russell Investments Group Ltd. cut its stake in Northwest Natural Holding (NYSE: NWN – Get Rating) by 92.3% in Q1, Holdings Channel.com reports. The institutional investor held 5,728 shares of the utility provider after selling 68,464 shares during the quarter. The holdings of Russell Investments Group Ltd. in Northwest Natural were worth $295,000 when it was last filed with the SEC.

Other institutional investors and hedge funds have also recently changed their stakes in the company. CM Bidwell & Associates Ltd. bought a new stake in shares of Northwest Natural in the first quarter for a value of approximately $36,000. IFM Investors Pty Ltd bought a new position in Northwest Natural in the first quarter, valued at around $209,000. Wedge Capital Management LLP NC bought a new position in Northwest Natural in the first quarter worth approximately $215,000. Alberta Investment Management Corp bought a new position in Northwest Natural in the fourth quarter, valued at around $224,000. Finally, Guardian Wealth Management Inc. bought a new position in Northwest Natural in the fourth quarter, valued at around $229,000. Hedge funds and other institutional investors hold 64.11% of the company’s shares.

Northwest natural trade down 1.9%

NYSE NWN shares opened at $50.41 on Wednesday. The stock’s 50-day moving average price is $52.68 and its two-hundred-day moving average price is $51.85. Northwest Natural Holding has a 52-week low of $43.07 and a 52-week high of $57.63. The stock has a market capitalization of $1.73 billion, a P/E ratio of 20.25, a PEG ratio of 4.91 and a beta of 0.45. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt ratio of 0.92.

Northwest Natural (NYSE:NWN – Get Rating) last reported quarterly earnings data on Thursday, August 4. The utility provider reported earnings per share (EPS) of $0.05 for the quarter, beating the consensus estimate of ($0.04) by $0.09. The company posted revenue of $194.96 million for the quarter, compared to $157.21 million expected by analysts. Northwest Natural had a return on equity of 7.87% and a net margin of 8.27%. Northwest Natural’s revenue for the quarter increased 30.9% over the same quarter last year. In the same quarter a year earlier, the company posted ($0.02) earnings per share. On average, analysts expect Northwest Natural Holding to post 2.5 earnings per share for the current fiscal year.

Northwest Natural Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 15. Shareholders of record on Friday, July 29 received a dividend of $0.482 per share. This represents a dividend of $1.93 on an annualized basis and a dividend yield of 3.82%. The ex-dividend date was Thursday, July 28. Northwest Natural’s payout ratio is 77.51%.

Wall Street analysts predict growth

A number of research analysts have recently commented on the company. Bank of America upgraded Northwest Natural from an “underperforming” rating to a “neutral” rating and set a price target of $53.00 for the company in a Tuesday, May 24 report. StockNews.com downgraded Northwest Natural from a “holding” rating to a “sell” rating in a report released Tuesday. One equity research analyst gave the stock a sell rating and four gave the company a hold rating. According to data from MarketBeat, Northwest Natural currently has an average rating of “Hold” and an average target price of $53.60.

Insider Trading at Northwest Natural

Separately, Vice Chairman David A. Weber sold 1,436 shares in a trade that took place on Wednesday, August 17. The stock was sold at an average price of $53.22, for a total transaction of $76,423.92. Following the sale, the vice president now directly owns 171 shares of the company, valued at approximately $9,100.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC’s website. In related news, CEO David Hugo Anderson sold 1,127 shares of the company in a trade that took place on Wednesday, June 22. The stock was sold at an average price of $52.44, for a total value of $59,099.88. Following the sale, the CEO now directly owns 125,675 shares of the company, valued at approximately $6,590,397. The transaction was disclosed in a legal filing with the SEC, accessible via this hyperlink. Additionally, Vice Chairman David A. Weber sold 1,436 shares of the company in a trade that took place on Wednesday, August 17. The shares were sold at an average price of $53.22, for a total value of $76,423.92. Following the completion of the sale, the vice president now owns 171 shares of the company, valued at $9,100.62. The disclosure of this sale can be found here. Insiders own 0.84% ​​of the shares of the company.

Northwest Natural Company Profile

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Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, industrial and transmission customers in Oregon and southwest Washington. The company also operates 5.7 billion cubic feet of the Mist gas storage facility under contract with other utilities and third-party distributors; provides natural gas asset management services; and operates an appliance retail center.

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Want to see what other hedge funds hold NWN? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Northwest Natural Holding (NYSE:NWN – Get Rating).

Institutional ownership by quarter for Northwest Natural (NYSE:NWN)



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