Earnest Partners LLC cut its position in shares of WGL Holdings Inc (NYSE:WGL) by 2.4% during the first quarter, Holdings Channel reports. The fund owned 1,236,445 shares of the utilities provider’s stock after selling 29,883 shares during the period. WGL Holdings makes up 1.1% of Earnest Partners LLC’s holdings, making the stock its 23rd largest position. Earnest Partners LLC’s holdings in WGL Holdings were worth $102,044,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new stake in WGL Holdings during the fourth quarter worth $5,610,000. Comerica Bank increased its stake in WGL Holdings by 6.4% in the fourth quarter. Comerica Bank now owns 38,135 shares of the utilities provider’s stock valued at $3,028,000 after buying an additional 2,281 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in WGL Holdings by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,578 shares of the utilities provider’s stock valued at $578,000 after buying an additional 26 shares in the last quarter. Private Advisor Group LLC acquired a new stake in WGL Holdings during the fourth quarter valued at approximately $241,000. Finally, Baird Financial Group Inc. increased its stake in WGL Holdings by 0.6% in the fourth quarter. Baird Financial Group Inc. now owns 8,743 shares of the utilities provider’s stock valued at $667,000 after buying an additional 54 shares in the last quarter. Institutional investors own 68.05% of the company’s stock.
Shares of WGL Holdings Inc (NYSE WGL) traded up 0.30% on Friday, hitting $84.30. 649,288 shares of the stock were exchanged. The company has a market cap of $4.32 billion, a price-to-earnings ratio of 24.82 and a beta of 0.65. WGL Holdings Inc has a 52-week low of $58.66 and a 52-week high of $84.54. The company has a 50 day moving average of $82.88 and a 200 day moving average of $80.98.
WGL Holdings (NYSE:WGL) last released its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by $0.10. The company had revenue of $841.80 million for the quarter, compared to analysts’ expectations of $899.14 million. WGL Holdings had a net margin of 7.46% and a return on equity of 12.25%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the company posted $1.78 EPS. Equities research analysts forecast that WGL Holdings Inc will post $3.25 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 10th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Thursday, July 6th. WGL Holdings’s payout ratio is 60.18%.
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Several equities research analysts recently commented on the stock. Zacks Investment Research downgraded shares of WGL Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th. Hilliard Lyons downgraded shares of WGL Holdings from a “neutral” rating to an “underperform” rating in a research report on Wednesday, March 15th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $75.00.
In related news, Director Debra L. Lee sold 3,615 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $83.66, for a total value of $302,430.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.09% of the company’s stock.
About WGL Holdings
WGL Holdings, Inc (WGL) is a holding company. The Company operates through four segments. The Regulated Utility segment consists of Washington Gas Light Company, which provides regulated gas distribution services to end use customers and natural gas transportation services to an unaffiliated natural gas distribution company and Hampshire Gas Company, which provides regulated interstate natural gas storage services.
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