Russell Investments Group Ltd. Cuts Stock Position in Unitil Co. (NYSE:UTL)

Russell Investments Group Ltd. lessened its position in shares of Unitil Co. (NYSE:UTL) by 74.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,127 shares of the utilities provider’s stock after selling 54,748 shares during the period. Russell Investments Group Ltd. owned 0.13% of Unitil worth $1,012,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of Unitil by 8.7% during the 1st quarter. Geode Capital Management LLC now owns 247,199 shares of the utilities provider’s stock valued at $11,294,000 after buying an additional 19,707 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Unitil during the 1st quarter valued at $292,000. Johnson Investment Counsel Inc. lifted its position in shares of Unitil by 0.9% during the 1st quarter. Johnson Investment Counsel Inc. now owns 32,660 shares of the utilities provider’s stock valued at $1,492,000 after buying an additional 300 shares during the last quarter. Putnam Investments LLC raised its stake in shares of Unitil by 4.3% during the 1st quarter. Putnam Investments LLC now owns 73,300 shares of the utilities provider’s stock valued at $3,349,000 after purchasing an additional 3,000 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Unitil by 22.8% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,165,066 shares of the utilities provider’s stock valued at $53,232,000 after purchasing an additional 216,597 shares during the period. 75.44% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE UTL opened at $46.09 on Tuesday. The firm has a market capitalization of $735.92 million, a P/E ratio of 19.53, a P/E/G ratio of 3.06 and a beta of 0.56. The company has a quick ratio of 0.79, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The stock’s 50-day simple moving average is $50.37 and its two-hundred day simple moving average is $51.59. Unitil Co. has a twelve month low of $32.80 and a twelve month high of $59.32.

Unitil (NYSE:UTL) last announced its earnings results on Tuesday, August 3rd. The utilities provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business had revenue of $96.60 million during the quarter, compared to the consensus estimate of $83.00 million. Unitil had a return on equity of 9.03% and a net margin of 8.07%. As a group, research analysts anticipate that Unitil Co. will post 2.41 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 27th. Stockholders of record on Friday, August 13th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend was Thursday, August 12th. Unitil’s payout ratio is currently 70.70%.

Separately, Zacks Investment Research upgraded Unitil from a “sell” rating to a “hold” rating in a research note on Saturday, September 11th.

Unitil Company Profile

UNITIL Corp. operates as a holding company, which engages in power generation and distribution. It operates through the following segments: Gas, Electric, Non-Regulated and Other. The firm produces and sells electricity & natural gas. The company was founded on September 7, 1984 and is headquartered in Hampton, NH.

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Institutional Ownership by Quarter for Unitil (NYSE:UTL)

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