Sanctuary Advisors LLC acquired a new stake in shares of Navigator Holdings Ltd. (NYSE:NVGS – Free Report) during the first quarter, Holdings Channel.com reports. The fund acquired 34,145 shares of the shipping company’s stock, valued at approximately $660,000.
A number of other large investors have also recently bought and sold shares of the business. First Manhattan CO. LLC. grew its position in Navigator by 27.8% in the 4th quarter. First Manhattan CO. LLC. now owns 1,430,009 shares of the shipping company’s stock worth $24,768,000 after purchasing an additional 311,259 shares during the last quarter. Hodges Capital Management Inc. increased its stake in shares of Navigator by 19.6% in the first quarter. Hodges Capital Management Inc. now owns 661,790 shares of the shipping company’s stock worth $12,792,000 after acquiring an additional 108,467 shares during the last quarter. Millennium Management LLC boosted its position in Navigator by 16.4% during the first quarter. Millennium Management LLC now owns 542,756 shares of the shipping company’s stock valued at $7,224,000 after purchasing an additional 76,287 shares during the last quarter. Bridgeway Capital Management LLC boosted its position in Navigator by 29.1% during the fourth quarter. Bridgeway Capital Management LLC now owns 507,779 shares of the shipping company’s stock valued at $8,795,000 after purchasing an additional 114,532 shares during the last quarter. Finally, State Street Corp grew its stake in Navigator by 2.4% in the fourth quarter. State Street Corp now owns 461,641 shares of the shipping company’s stock valued at $7,996,000 after purchasing an additional 10,716 shares in the last quarter. Institutional investors own 18.95% of the company’s stock.
Insider Buying and Selling
In other Navigator news, COO Michael Schroder sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $23.63, for a total transaction of $590,750.00. Following the transaction, the chief operating officer owned 5,000 shares in the company, valued at $118,150. This trade represents a 83.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Oeyvind Lindeman sold 6,259 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $21.70, for a total value of $135,820.30. The disclosure for this sale is available in the SEC filing.
Navigator Trading Up 0.0%
Navigator (NYSE:NVGS – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The shipping company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.16. The company had revenue of $140.62 million during the quarter, compared to analysts’ expectations of $139.35 million. Navigator had a return on equity of 7.01% and a net margin of 18.84%. On average, analysts forecast that Navigator Holdings Ltd. will post 2.12 earnings per share for the current fiscal year.
Navigator Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. Navigator’s dividend payout ratio is presently 17.18%.
Analysts Set New Price Targets
Several research analysts have weighed in on NVGS shares. Zacks Research raised Navigator from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 23rd. Citigroup lifted their price target on Navigator from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings lowered shares of Navigator from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat, Navigator has a consensus rating of “Buy” and a consensus target price of $23.33.
Check Out Our Latest Stock Analysis on Navigator
Navigator Profile
Navigator Holdings Ltd. is a global shipping company specializing in the seaborne transportation of liquefied gases. The company’s fleet is purpose-built to carry a range of petrochemical gases, including liquefied petroleum gas (LPG), ethylene, propylene and ammonia. Navigator’s vessels are designed to meet the stringent safety and environmental standards required for handling pressurized and refrigerated gases, offering flexible capacity to customers across the energy and chemical sectors.
Navigator operates one of the largest and most modern fleets of gas carriers in the industry, with vessels ranging from fully pressurized gas carriers to specialized very large ethane carriers (VLECs).
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