Russell Investments Group Ltd. decreased its position in shares of NorthWestern Co. (NASDAQ:NWE – Get Rating) by 32.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,755 shares of the company’s stock after selling 11,195 shares during the period. Russell Investments Group Ltd.’s holdings in NorthWestern were worth $1,435,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. bought a new stake in NorthWestern during the 4th quarter worth approximately $25,000. Pinebridge Investments L.P. bought a new stake in shares of NorthWestern during the fourth quarter valued at approximately $51,000. Covestor Ltd bought a new stake in shares of NorthWestern during the fourth quarter valued at approximately $107,000. Strs Ohio raised its position in shares of NorthWestern by 166.7% during the first quarter. Strs Ohio now owns 2,400 shares of the company’s stock valued at $145,000 after buying an additional 1,500 shares during the last quarter. Finally, First Citizens Bank & Trust Co. bought a new stake in shares of NorthWestern during the first quarter valued at approximately $236,000. Institutional investors own 92.26% of the company’s stock.
NorthWestern Stock Down 0.0 %
NASDAQ:NWE opened at $56.25 on Thursday. NorthWestern Co. has a 1-year low of $53.42 and a 1-year high of $65.62. The company has a 50-day moving average of $55.45 and a 200 day moving average of $57.85. The firm has a market cap of $3.16 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 7.47 and a beta of 0.39. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.05 and a quick ratio of 0.79.
NorthWestern (NASDAQ:NWE – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. NorthWestern had a net margin of 12.61% and a return on equity of 7.59%. The firm had revenue of $323.00 million for the quarter, compared to the consensus estimate of $290.20 million. As a group, research analysts anticipate that NorthWestern Co. will post 3.32 EPS for the current fiscal year.
NorthWestern Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend is Wednesday, September 14th. NorthWestern’s dividend payout ratio (DPR) is presently 77.30%.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on NWE. Bank of America cut shares of NorthWestern from a “neutral” rating to an “underperform” rating and lifted their price objective for the company from $61.00 to $62.00 in a research report on Tuesday, May 31st. Barclays reduced their price target on shares of NorthWestern from $62.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. Finally, KeyCorp dropped their price objective on shares of NorthWestern from $67.00 to $64.00 and set an “overweight” rating for the company in a research note on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.86.
Insiders Place Their Bets
In related news, CEO Robert C. Rowe sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $55.82, for a total transaction of $223,280.00. Following the completion of the sale, the chief executive officer now directly owns 195,016 shares of the company’s stock, valued at approximately $10,885,793.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.17% of the company’s stock.
NorthWestern Corporation, doing business as NorthWestern Energy, provides electricity and natural gas to residential, commercial, and various industrial customers. The company operates through Electric and Natural Gas segments. It generates, purchases, transmits, and distributes electricity; and produces, purchases, stores, transmits, and distributes natural gas, as well as owns municipal franchises to provide natural gas service in the communities.
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