Wall Street Zen upgraded shares of Navigator (NYSE:NVGS – Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.
A number of other equities analysts have also weighed in on the stock. Zacks Research upgraded shares of Navigator from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 23rd. Weiss Ratings raised shares of Navigator from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Finally, Citigroup upped their price target on shares of Navigator from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $23.33.
Check Out Our Latest Stock Analysis on NVGS
Navigator Stock Down 1.5%
Navigator (NYSE:NVGS – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The shipping company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.32. Navigator had a return on equity of 10.45% and a net margin of 22.80%.The company had revenue of $167.94 million during the quarter, compared to analyst estimates of $139.46 million. On average, equities research analysts anticipate that Navigator will post 1.76 EPS for the current year.
Navigator Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Wednesday, August 19th. Navigator’s payout ratio is presently 12.90%.
Insider Transactions at Navigator
In related news, COO Michael Schroder sold 25,000 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $23.63, for a total transaction of $590,750.00. Following the sale, the chief operating officer owned 5,000 shares of the company’s stock, valued at approximately $118,150. This represents a 83.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Oeyvind Lindeman sold 6,259 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $21.70, for a total value of $135,820.30. Additional details regarding this sale are available in the official SEC disclosure.
Hedge Funds Weigh In On Navigator
A number of large investors have recently modified their holdings of NVGS. First Manhattan CO. LLC. increased its holdings in Navigator by 27.8% during the 4th quarter. First Manhattan CO. LLC. now owns 1,430,009 shares of the shipping company’s stock worth $24,768,000 after acquiring an additional 311,259 shares during the period. Encompass Capital Advisors LLC lifted its stake in Navigator by 62.7% in the 1st quarter. Encompass Capital Advisors LLC now owns 1,034,216 shares of the shipping company’s stock worth $19,991,000 after purchasing an additional 398,615 shares in the last quarter. Hodges Capital Management Inc. boosted its holdings in Navigator by 19.6% in the 1st quarter. Hodges Capital Management Inc. now owns 661,790 shares of the shipping company’s stock valued at $12,792,000 after purchasing an additional 108,467 shares during the period. Millennium Management LLC boosted its holdings in Navigator by 16.4% in the 1st 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 period. Finally, Bridgeway Capital Management LLC boosted its holdings in Navigator by 29.1% in the 4th 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 period. 18.95% of the stock is currently owned by institutional investors.
About Navigator
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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