Magellan Asset Management Ltd Sells 3,793 Shares of Northwest Natural Holding (NYSE:NWN)

Magellan Asset Management Ltd reduced its holdings in shares of Northwest Natural Holding (NYSE:NWN) by 14.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,589 shares of the utilities provider’s stock after selling 3,793 shares during the period. Magellan Asset Management Ltd owned about 0.06% of Northwest Natural worth $894,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in shares of Northwest Natural by 47.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 384,324 shares of the utilities provider’s stock valued at $15,688,000 after purchasing an additional 123,961 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Northwest Natural by 26.4% during the fourth quarter. Nordea Investment Management AB now owns 125,032 shares of the utilities provider’s stock valued at $4,959,000 after buying an additional 26,152 shares during the last quarter. State Street Corp increased its holdings in shares of Northwest Natural by 2.9% in the third quarter. State Street Corp now owns 1,817,813 shares of the utilities provider’s stock worth $74,203,000 after buying an additional 51,391 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Northwest Natural by 8.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 615,126 shares of the utilities provider’s stock valued at $24,334,000 after buying an additional 46,135 shares during the last quarter. Finally, Barclays PLC raised its position in Northwest Natural by 351.9% during the 3rd quarter. Barclays PLC now owns 63,703 shares of the utilities provider’s stock valued at $2,601,000 after purchasing an additional 49,606 shares during the last quarter. 75.13% of the stock is currently owned by institutional investors.

Northwest Natural Stock Performance

Northwest Natural stock opened at $43.18 on Thursday. Northwest Natural Holding has a twelve month low of $34.82 and a twelve month high of $44.25. The company has a quick ratio of 0.53, a current ratio of 0.72 and a debt-to-equity ratio of 1.15. The stock’s 50 day moving average is $41.20 and its 200 day moving average is $40.75. The company has a market capitalization of $1.74 billion, a P/E ratio of 20.37 and a beta of 0.59.

Northwest Natural (NYSE:NWN) last posted its quarterly earnings data on Friday, February 28th. The utilities provider reported $1.41 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.01). Northwest Natural had a return on equity of 5.89% and a net margin of 6.90%. The company had revenue of $370.90 million during the quarter, compared to analysts’ expectations of $395.05 million. During the same quarter last year, the company earned $1.21 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities research analysts predict that Northwest Natural Holding will post 2.33 earnings per share for the current fiscal year.

Northwest Natural Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend was Friday, January 31st. Northwest Natural’s payout ratio is currently 96.55%.

Insider Activity

In related news, VP David A. Weber sold 2,183 shares of Northwest Natural stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $42.46, for a total value of $92,690.18. Following the sale, the vice president now directly owns 255 shares in the company, valued at approximately $10,827.30. The trade was a 89.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David Hugo Anderson sold 7,500 shares of Northwest Natural stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $40.97, for a total value of $307,275.00. Following the transaction, the chief executive officer now owns 130,242 shares in the company, valued at approximately $5,336,014.74. This represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,192 shares of company stock valued at $1,042,268 over the last ninety days. 0.84% of the stock is currently owned by insiders.

About Northwest Natural

Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, and industrial customers in the United States. The company operates a mist gas storage facility contracted to other utilities, third-party marketers, and electric generators; offers natural gas asset management services; and operates an appliance retail center.