Bank of New York Mellon Corp Sells 8,906 Shares of NorthWestern Co. (NASDAQ:NWE)

Bank of New York Mellon Corp reduced its stake in NorthWestern Co. (NASDAQ:NWE – Get Rating) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,232,053 shares of the company’s stock after selling 8,906 shares during the period. Bank of New York Mellon Corp owned 2.13% of NorthWestern worth $60,715,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Lazard Asset Management LLC grew its holdings in shares of NorthWestern by 49.9% during the first quarter. Lazard Asset Management LLC now owns 5,079,648 shares of the company’s stock valued at $307,267,000 after buying an additional 1,690,016 shares during the last quarter. State Street Corp grew its holdings in shares of NorthWestern by 42.3% during the first quarter. State Street Corp now owns 2,393,653 shares of the company’s stock valued at $144,792,000 after buying an additional 711,238 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of NorthWestern during the second quarter valued at about $13,053,000. AQR Capital Management LLC boosted its holdings in NorthWestern by 75.4% during the second quarter. AQR Capital Management LLC now owns 489,611 shares of the company’s stock worth $28,745,000 after purchasing an additional 210,531 shares during the last quarter. Finally, Money Concepts Capital Corp boosted its holdings in NorthWestern by 753.2% during the third quarter. Money Concepts Capital Corp now owns 232,838 shares of the company’s stock worth $11,474,000 after purchasing an additional 205,549 shares during the last quarter. 96.60% of the stock is owned by institutional investors.

Insider Buying and Selling at NorthWestern

In other NorthWestern news, Director Jan Robert Horsfall sold 2,800 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $57.26, for a total value of $160,328.00. Following the transaction, the director now directly owns 4,375 shares in the company, valued at $250,512.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.17% of the company’s stock.

NorthWestern Stock Down 1.3 %

NWE opened at $56.49 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.87 and a debt-to-equity ratio of 0.93. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 9.46 and a beta of 0.42. NorthWestern Co. has a twelve month low of $48.68 and a twelve month high of $63.06. The company’s 50-day moving average price is $57.51 and its two-hundred day moving average price is $55.11.

NorthWestern Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 4.53%. This is a boost from NorthWestern’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Tuesday, March 14th. NorthWestern’s payout ratio is presently 77.54%.

Wall Street Analysts Forecast Growth

NWE has been the topic of several analyst reports. Wells Fargo & Company boosted their price target on shares of NorthWestern to $57.00 in a report on Wednesday, December 14th. Guggenheim cut shares of NorthWestern from a “neutral” rating to a “sell” rating and cut their price target for the stock from $48.00 to $46.00 in a report on Monday, January 23rd. Finally, Mizuho boosted their price target on shares of NorthWestern from $56.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, December 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, NorthWestern currently has a consensus rating of “Hold” and an average price target of $56.25.

NorthWestern Profile

(Get Rating)

NorthWestern Corp. engages in generating and distributing electricity and natural gas. It operates through the following segments: Electric, Gas, and Other. The Electric segment includes generation, transmission, and distribution of electric utility business as a vertically integrated generation transmission and distribution utility.