First Manhattan CO. LLC. Decreases Stock Position in Navigator Holdings Ltd. $NVGS

Key Points

• First Manhattan CO. LLC reduced its stake in Navigator Holdings Ltd. by 2.3%, selling 23,450 shares and thus owning approximately 1.46% of the company valued at $13.5 million.
• Navigator's shares recently opened at $16.09, with a market cap of $1.12 billion and a PE ratio of 12.67, while their earnings report showed a miss against consensus estimates, reporting $0.14 per share.
• The company announced a quarterly dividend of $0.05 per share, with a 1.2% yield and a payout ratio of 15.75%, set to be paid on September 17th.

First Manhattan CO. LLC. decreased its holdings in Navigator Holdings Ltd. (NYSE:NVGS - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,011,146 shares of the shipping company's stock after selling 23,450 shares during the quarter. First Manhattan CO. LLC. owned about 1.46% of Navigator worth $13,508,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVGS. Madison Asset Management LLC purchased a new stake in Navigator in the 1st quarter valued at $133,000. Quarry LP purchased a new stake in Navigator in the 1st quarter valued at $194,000. XTX Topco Ltd purchased a new stake in Navigator in the 1st quarter valued at $199,000. Corton Capital Inc. acquired a new position in Navigator in the 4th quarter valued at $270,000. Finally, Quantbot Technologies LP increased its stake in Navigator by 476.9% in the 1st quarter. Quantbot Technologies LP now owns 31,786 shares of the shipping company's stock valued at $423,000 after buying an additional 26,276 shares during the period. Hedge funds and other institutional investors own 18.95% of the company's stock.

Navigator Price Performance

Shares of NYSE:NVGS traded up $0.33 on Friday, reaching $16.61. 314,540 shares of the company were exchanged, compared to its average volume of 298,316. The company has a current ratio of 1.59, a quick ratio of 1.53 and a debt-to-equity ratio of 0.70. Navigator Holdings Ltd. has a 1-year low of $10.55 and a 1-year high of $17.52. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 13.07 and a beta of 0.67. The company has a 50-day moving average of $15.77 and a 200-day moving average of $14.43.

Navigator (NYSE:NVGS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The shipping company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.22). Navigator had a return on equity of 6.56% and a net margin of 15.57%.The company had revenue of $129.64 million for the quarter, compared to analyst estimates of $126.73 million. Equities analysts forecast that Navigator Holdings Ltd. will post 1.25 earnings per share for the current fiscal year.

Navigator Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Thursday, August 28th will be given a $0.05 dividend. The ex-dividend date is Thursday, August 28th. This represents a $0.20 annualized dividend and a dividend yield of 1.2%. Navigator's payout ratio is currently 15.75%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NVGS. Jefferies Financial Group reissued a "buy" rating and issued a $19.00 price objective on shares of Navigator in a research note on Wednesday, August 13th. Wall Street Zen cut shares of Navigator from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $21.67.

Navigator Profile

Navigator Holdings Ltd. engages in owning and operating a fleet of liquefied gas carriers worldwide. It provides international and regional seaborne transportation services of petrochemical gases, liquefied petroleum gases, and ammonia for energy companies, industrial users, and commodity traders. The company also offers ship shore infrastructure and consultancy services.