NorthWestern Corp. (NWE) Shares Bought by Victory Capital Management Inc.
Victory Capital Management Inc. increased its position in NorthWestern Corp. (NYSE:NWE) by 24.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 829,225 shares of the company’s stock after buying an additional 162,546 shares during the period. Victory Capital Management Inc. owned about 1.72% of NorthWestern Corp. worth $47,705,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Societe Generale acquired a new stake in NorthWestern Corp. during the second quarter valued at $104,000. LS Investment Advisors LLC raised its stake in NorthWestern Corp. by 3.5% in the second quarter. LS Investment Advisors LLC now owns 1,698 shares of the company’s stock valued at $107,000 after buying an additional 58 shares during the last quarter. Assetmark Inc. raised its stake in NorthWestern Corp. by 129.1% in the second quarter. Assetmark Inc. now owns 1,858 shares of the company’s stock valued at $117,000 after buying an additional 1,047 shares during the last quarter. Quantbot Technologies LP acquired a new stake in NorthWestern Corp. during the third quarter valued at $118,000. Finally, Public Employees Retirement System of Ohio raised its stake in NorthWestern Corp. by 2.3% in the second quarter. Public Employees Retirement System of Ohio now owns 2,599 shares of the company’s stock valued at $164,000 after buying an additional 58 shares during the last quarter. Institutional investors and hedge funds own 97.31% of the company’s stock.
Shares of NorthWestern Corp. (NYSE:NWE) traded down 2.19% during trading on Wednesday, hitting $57.06. 25,493 shares of the stock traded hands. NorthWestern Corp. has a 52 week low of $51.95 and a 52 week high of $63.75. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 17.00 and a beta of 0.34. The firm’s 50-day moving average price is $56.21 and its 200-day moving average price is $58.54.
NorthWestern Corp. (NYSE:NWE) last announced its earnings results on Thursday, October 20th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.10. The firm earned $301 million during the quarter, compared to analysts’ expectations of $282.30 million. NorthWestern Corp. had a return on equity of 9.94% and a net margin of 13.04%. The company’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 earnings per share. On average, equities research analysts anticipate that NorthWestern Corp. will post $3.20 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $2.00 annualized dividend and a dividend yield of 3.43%. NorthWestern Corp.’s dividend payout ratio is 59.52%.
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NWE has been the subject of several recent research reports. Zacks Investment Research lowered shares of NorthWestern Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, October 5th. Williams Capital raised shares of NorthWestern Corp. from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Monday, October 10th. Finally, Mizuho reduced their price target on shares of NorthWestern Corp. from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, October 20th.
In other news, CEO Robert C. Rowe sold 3,011 shares of the stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $58.00, for a total value of $174,638.00. Following the completion of the sale, the chief executive officer now directly owns 130,960 shares of the company’s stock, valued at $7,595,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.34% of the stock is owned by insiders.
NorthWestern Corp. Company Profile
NorthWestern Corporation, doing business as North-Western Energy, provides electricity and natural gas. The Company provides electricity and natural gas to over 701,000 customers in Montana, South Dakota and Nebraska. It generates and distributes electricity in South Dakota; distributes natural gas in South Dakota and Nebraska, and generates and distributes electricity and distributed natural gas in Montana.
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