Man Group plc Raises Holdings in Northwest Natural Holding (NYSE:NWN)

Man Group plc boosted its stake in shares of Northwest Natural Holding (NYSE:NWN - Free Report) by 160.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,320 shares of the utilities provider's stock after buying an additional 10,054 shares during the period. Man Group plc's holdings in Northwest Natural were worth $646,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of NWN. Mutual of America Capital Management LLC raised its stake in shares of Northwest Natural by 4.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 6,079 shares of the utilities provider's stock worth $240,000 after purchasing an additional 263 shares during the last quarter. Arizona State Retirement System increased its holdings in Northwest Natural by 2.5% in the fourth quarter. Arizona State Retirement System now owns 11,223 shares of the utilities provider's stock valued at $444,000 after buying an additional 273 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in Northwest Natural by 13.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,906 shares of the utilities provider's stock worth $115,000 after purchasing an additional 345 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in Northwest Natural by 4.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,475 shares of the utilities provider's stock worth $375,000 after acquiring an additional 400 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in Northwest Natural by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 31,020 shares of the utilities provider's stock valued at $1,227,000 after buying an additional 654 shares in the last quarter. 75.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP David A. Weber sold 2,183 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $42.46, for a total value of $92,690.18. Following the completion of the transaction, the vice president now owns 255 shares of the company's stock, valued at approximately $10,827.30. This trade represents a 89.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David Hugo Anderson sold 7,500 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $41.46, for a total transaction of $310,950.00. Following the sale, the chief executive officer now directly owns 117,382 shares in the company, valued at approximately $4,866,657.72. The trade was a 6.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,774 shares of company stock valued at $1,037,295 in the last quarter. Insiders own 0.93% of the company's stock.

Northwest Natural Price Performance

NWN stock traded up $0.02 during mid-day trading on Friday, reaching $40.92. The company's stock had a trading volume of 19,316 shares, compared to its average volume of 247,891. The stock has a market cap of $1.65 billion, a PE ratio of 19.26 and a beta of 0.56. The company's 50 day moving average is $42.04 and its two-hundred day moving average is $41.34. Northwest Natural Holding has a fifty-two week low of $34.82 and a fifty-two week high of $44.38. The company has a current ratio of 0.72, a quick ratio of 0.53 and a debt-to-equity ratio of 1.15.

Northwest Natural (NYSE:NWN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The utilities provider reported $2.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.09 by $0.19. Northwest Natural had a return on equity of 5.89% and a net margin of 6.90%. The business had revenue of $494.28 million during the quarter, compared to the consensus estimate of $464.65 million. During the same period last year, the company earned $1.69 EPS. The company's revenue for the quarter was up 14.0% on a year-over-year basis. Equities research analysts expect that Northwest Natural Holding will post 2.33 EPS for the current year.

Northwest Natural Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were given a $0.49 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $1.96 dividend on an annualized basis and a yield of 4.79%. Northwest Natural's dividend payout ratio is currently 77.78%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company raised their target price on Northwest Natural from $45.00 to $47.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th.

Northwest Natural Company Profile

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.