Congress Wealth Management LLC DE Raises Holdings in The Williams Companies, Inc. (NYSE:WMB)

Posted by Defense World Staff on Jun 27th, 2023

Congress Wealth Management LLC DE increased its position in The Williams Companies, Inc. (NYSE:WMB – Get Rating) by 294.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 33,165 shares of the pipeline company’s stock after acquiring an additional 24,760 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Williams Companies were worth $990,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Williams Companies by 1.0% in the third quarter. Vanguard Group Inc. now owns 126,370,141 shares of the pipeline company’s stock valued at $3,617,977,000 after purchasing an additional 1,193,704 shares during the period. State Street Corp grew its stake in Williams Companies by 0.4% in the 3rd quarter. State Street Corp now owns 88,880,791 shares of the pipeline company’s stock valued at $2,544,657,000 after buying an additional 393,245 shares in the last quarter. Moneta Group Investment Advisors LLC raised its holdings in Williams Companies by 96,588.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 63,423,739 shares of the pipeline company’s stock valued at $2,086,641,000 after acquiring an additional 63,358,143 shares during the period. Deutsche Bank AG lifted its position in shares of Williams Companies by 15.2% during the fourth quarter. Deutsche Bank AG now owns 31,131,423 shares of the pipeline company’s stock worth $1,024,224,000 after acquiring an additional 4,112,024 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Williams Companies by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 27,242,720 shares of the pipeline company’s stock worth $894,796,000 after acquiring an additional 273,005 shares during the period. 84.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Williams Companies

In other news, SVP Scott A. Hallam sold 7,194 shares of Williams Companies stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $31.00, for a total value of $223,014.00. Following the transaction, the senior vice president now owns 241,360 shares in the company, valued at $7,482,160. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Williams Companies news, SVP Scott A. Hallam sold 14,388 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $30.64, for a total value of $440,848.32. Following the sale, the senior vice president now owns 248,554 shares of the company’s stock, valued at approximately $7,615,694.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Scott A. Hallam sold 7,194 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $31.00, for a total transaction of $223,014.00. Following the completion of the transaction, the senior vice president now owns 241,360 shares in the company, valued at approximately $7,482,160. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.

Wall Street Analysts Forecast Growth

WMB has been the topic of a number of recent research reports. Morgan Stanley dropped their price objective on Williams Companies from $41.00 to $39.00 in a report on Tuesday, April 25th. Barclays cut their price objective on shares of Williams Companies from $36.00 to $35.00 in a research report on Tuesday, April 18th. Scotiabank reaffirmed a “sector perform” rating and set a $35.00 target price on shares of Williams Companies in a report on Friday, April 14th. Truist Financial downgraded shares of Williams Companies from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a report on Tuesday, March 28th. Finally, Sanford C. Bernstein cut shares of Williams Companies from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $37.00 to $34.00 in a report on Monday, February 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $35.42.

Williams Companies Trading Up 1.6 %

Shares of WMB stock opened at $31.08 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 0.69 and a debt-to-equity ratio of 1.59. The firm has a market cap of $37.86 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 4.41 and a beta of 1.16. The business has a 50-day moving average price of $29.82 and a two-hundred day moving average price of $30.71. The Williams Companies, Inc. has a 12-month low of $27.80 and a 12-month high of $35.79.

Williams Companies (NYSE:WMB – Get Rating) last released its earnings results on Wednesday, May 3rd. The pipeline company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.10. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $2.65 billion. Williams Companies had a return on equity of 17.24% and a net margin of 22.53%. Williams Companies’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS. Equities analysts anticipate that The Williams Companies, Inc. will post 1.98 EPS for the current fiscal year.

Williams Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 26th. Investors of record on Monday, June 12th were given a $0.4475 dividend. This represents a $1.79 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date of this dividend was Friday, June 9th. Williams Companies’s payout ratio is presently 84.04%.

About Williams Companies

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The Williams Companies, Inc, together with its subsidiaries, operates as an energy infrastructure company primarily in the United States. It operates through Transmission & Gulf of Mexico, Northeast G&P, West, and Gas & NGL Marketing Services segments. The Transmission & Gulf of Mexico segment comprises Transco and Northwest natural gas pipelines; and natural gas gathering and processing, and crude oil production handling and transportation assets in the Gulf Coast region, as well as various petrochemical and feedstock pipelines.