Cambridge Investment Research Advisors Inc. Sells 7,569 Shares of The Williams Companies, Inc. (NYSE:WMB)

Posted by Defense World Staff on Sep 25th, 2023

Cambridge Investment Research Advisors Inc. cut its stake in shares of The Williams Companies, Inc. (NYSE:WMB – Free Report) by 3.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 187,205 shares of the pipeline company’s stock after selling 7,569 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Williams Companies were worth $6,109,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WMB. Pacer Advisors Inc. increased its stake in shares of Williams Companies by 236.5% in the second quarter. Pacer Advisors Inc. now owns 641,097 shares of the pipeline company’s stock worth $20,919,000 after purchasing an additional 450,595 shares in the last quarter. Keel Point LLC raised its holdings in Williams Companies by 20.9% during the second quarter. Keel Point LLC now owns 8,501 shares of the pipeline company’s stock valued at $277,000 after acquiring an additional 1,471 shares during the period. Foundry Partners LLC purchased a new position in shares of Williams Companies in the second quarter valued at about $9,712,000. Platform Technology Partners boosted its stake in shares of Williams Companies by 2.7% in the second quarter. Platform Technology Partners now owns 36,860 shares of the pipeline company’s stock worth $1,237,000 after acquiring an additional 968 shares during the period. Finally, First Bank & Trust grew its position in shares of Williams Companies by 8.0% during the second quarter. First Bank & Trust now owns 89,306 shares of the pipeline company’s stock worth $2,914,000 after purchasing an additional 6,608 shares in the last quarter. 85.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Scott A. Hallam sold 7,194 shares of Williams Companies stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $32.00, for a total transaction of $230,208.00. Following the completion of the sale, the senior vice president now owns 234,166 shares of the company’s stock, valued at $7,493,312. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Williams Companies news, SVP Scott A. Hallam sold 7,194 shares of the firm’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $32.00, for a total transaction of $230,208.00. Following the transaction, the senior vice president now directly owns 234,166 shares in the company, valued at approximately $7,493,312. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Scott A. Hallam sold 7,193 shares of the company’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $33.00, for a total value of $237,369.00. Following the completion of the sale, the senior vice president now owns 226,973 shares of the company’s stock, valued at $7,490,109. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

Williams Companies Stock Performance

Williams Companies stock opened at $33.62 on Monday. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.49 and a quick ratio of 0.44. The firm has a market capitalization of $40.90 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 4.98 and a beta of 1.18. The Williams Companies, Inc. has a 1-year low of $27.80 and a 1-year high of $35.46. The company’s 50-day moving average is $34.33 and its 200 day moving average is $31.61.

Williams Companies (NYSE:WMB – Get Free Report) last announced its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.39 by $0.03. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.66 billion. Williams Companies had a return on equity of 17.35% and a net margin of 23.07%. Williams Companies’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.40 EPS. Research analysts forecast that The Williams Companies, Inc. will post 1.93 EPS for the current year.

Williams Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Monday, September 11th will be given a $0.4475 dividend. The ex-dividend date is Friday, September 8th. This represents a $1.79 annualized dividend and a yield of 5.32%. Williams Companies’s dividend payout ratio (DPR) is 82.11%.

Wall Street Analysts Forecast Growth

WMB has been the topic of a number of research analyst reports. Mizuho boosted their price target on Williams Companies from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, August 22nd. TD Securities cut their target price on shares of Williams Companies from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, August 4th. Morgan Stanley boosted their price target on shares of Williams Companies from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 29th. StockNews.com initiated coverage on Williams Companies in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, CIBC initiated coverage on Williams Companies in a research note on Monday, July 17th. They set a “neutral” rating for the company. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Williams Companies has an average rating of “Hold” and a consensus price target of $36.27.

Read Our Latest Research Report on Williams Companies

About Williams Companies

(Free Report)

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.