Arizona State Retirement System raised its stake in NorthWestern Co. (NASDAQ:NWE – Get Rating) by 7.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,858 shares of the company’s stock after buying an additional 980 shares during the period. Arizona State Retirement System’s holdings in NorthWestern were worth $899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in NWE. Lazard Asset Management LLC raised its holdings in shares of NorthWestern by 10,592,500.0% in the 4th quarter. Lazard Asset Management LLC now owns 3,389,632 shares of the company’s stock valued at $193,751,000 after purchasing an additional 3,389,600 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of NorthWestern by 38.1% in the 4th quarter. JPMorgan Chase & Co. now owns 3,289,438 shares of the company’s stock valued at $188,024,000 after purchasing an additional 908,136 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of NorthWestern by 371.6% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,071,043 shares of the company’s stock valued at $61,221,000 after purchasing an additional 843,949 shares in the last quarter. Marshall Wace LLP bought a new position in shares of NorthWestern during the 4th quarter worth approximately $23,574,000. Finally, Westwood Holdings Group Inc. raised its stake in shares of NorthWestern by 38.5% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,303,919 shares of the company’s stock worth $74,532,000 after acquiring an additional 362,503 shares in the last quarter. 92.26% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Robert C. Rowe sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $55.82, for a total value of $223,280.00. Following the completion of the transaction, the chief executive officer now owns 195,016 shares of the company’s stock, valued at $10,885,793.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.17% of the company’s stock.
NorthWestern Trading Up 0.3 %
NorthWestern Dividend Announcement
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 dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 4.63%. 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
A number of brokerages have issued reports on NWE. KeyCorp cut their price target on shares of NorthWestern from $67.00 to $64.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 19th. Sidoti cut shares of NorthWestern from a “buy” rating to a “neutral” rating and set a $63.00 price objective for the company. in a research report on Wednesday, April 6th. Barclays reduced their target price on shares of NorthWestern from $62.00 to $57.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. Finally, Bank of America cut shares of NorthWestern from a “neutral” rating to an “underperform” rating and increased their target price for the company from $61.00 to $62.00 in a research report on Tuesday, May 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $61.86.
NorthWestern Company Profile
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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