Nordea Investment Management AB Raises Holdings in Northwest Natural Holding (NYSE:NWN)

Nordea Investment Management AB boosted its stake in shares of Northwest Natural Holding (NYSE:NWN) by 26.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,032 shares of the utilities provider’s stock after purchasing an additional 26,152 shares during the quarter. Nordea Investment Management AB owned approximately 0.31% of Northwest Natural worth $4,959,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Thompson Siegel & Walmsley LLC purchased a new position in shares of Northwest Natural in the 3rd quarter valued at about $12,250,000. Glenmede Trust Co. NA purchased a new position in shares of Northwest Natural in the 3rd quarter valued at about $7,390,000. Foundry Partners LLC purchased a new position in shares of Northwest Natural in the 3rd quarter valued at about $5,068,000. JPMorgan Chase & Co. increased its holdings in shares of Northwest Natural by 47.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 384,324 shares of the utilities provider’s stock valued at $15,688,000 after acquiring an additional 123,961 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Northwest Natural by 406.0% in the 2nd quarter. Renaissance Technologies LLC now owns 144,198 shares of the utilities provider’s stock valued at $5,207,000 after acquiring an additional 115,698 shares during the last quarter. Hedge funds and other institutional investors own 75.13% of the company’s stock.

Insider Activity at Northwest Natural

In other Northwest Natural news, CEO David Hugo Anderson sold 7,500 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $39.78, for a total transaction of $298,350.00. Following the completion of the sale, the chief executive officer now directly owns 144,298 shares of the company’s stock, valued at approximately $5,740,174.44. This trade represents a 4.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.84% of the company’s stock.

Northwest Natural Stock Down 2.2 %

Shares of NYSE NWN opened at $38.31 on Friday. The stock has a market cap of $1.54 billion, a PE ratio of 18.07 and a beta of 0.62. The company has a quick ratio of 0.53, a current ratio of 0.72 and a debt-to-equity ratio of 1.15. Northwest Natural Holding has a 52-week low of $34.82 and a 52-week high of $44.25. The business has a 50-day moving average price of $40.98 and a 200 day moving average price of $39.75.

Northwest Natural (NYSE:NWN) last announced its earnings results on Tuesday, November 12th. The utilities provider reported ($0.71) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.08. The firm had revenue of $136.90 million during the quarter, compared to analysts’ expectations of $132.47 million. Northwest Natural had a return on equity of 5.89% and a net margin of 6.90%. The business’s revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.65) EPS. Equities research analysts forecast that Northwest Natural Holding will post 2.33 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Stifel Nicolaus dropped their price objective on Northwest Natural from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, November 14th.

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.