Unitil Co. (NYSE:UTL) Shares Sold by Victory Capital Management Inc.

Posted by Defense World Staff on Nov 5th, 2023

Victory Capital Management Inc. cut its stake in Unitil Co. (NYSE:UTL – Free Report) by 41.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,470 shares of the utilities provider’s stock after selling 3,855 shares during the period. Victory Capital Management Inc.’s holdings in Unitil were worth $277,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers increased its holdings in shares of Unitil by 0.5% during the first quarter. Rhumbline Advisers now owns 44,578 shares of the utilities provider’s stock valued at $2,224,000 after purchasing an additional 229 shares during the period. First Manhattan Co. increased its holdings in shares of Unitil by 0.4% during the first quarter. First Manhattan Co. now owns 65,689 shares of the utilities provider’s stock valued at $3,276,000 after purchasing an additional 250 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Unitil by 3.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,198 shares of the utilities provider’s stock valued at $468,000 after purchasing an additional 268 shares during the period. Bank of Montreal Can increased its holdings in shares of Unitil by 2.6% during the first quarter. Bank of Montreal Can now owns 11,347 shares of the utilities provider’s stock valued at $579,000 after purchasing an additional 292 shares during the period. Finally, Maryland State Retirement & Pension System increased its holdings in shares of Unitil by 1.6% during the second quarter. Maryland State Retirement & Pension System now owns 23,258 shares of the utilities provider’s stock valued at $1,179,000 after purchasing an additional 375 shares during the period. 75.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

UTL has been the topic of a number of research analyst reports. StockNews.com initiated coverage on Unitil in a report on Thursday, October 5th. They set a “hold” rating on the stock. Royal Bank of Canada decreased their target price on Unitil from $56.00 to $51.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 6th.

Get Our Latest Analysis on Unitil

Unitil Trading Up 1.1 %

Shares of UTL stock opened at $47.45 on Friday. The stock has a 50-day simple moving average of $46.17 and a 200 day simple moving average of $50.56. Unitil Co. has a fifty-two week low of $41.43 and a fifty-two week high of $60.59. The stock has a market capitalization of $763.47 million, a P/E ratio of 17.57, a P/E/G ratio of 2.41 and a beta of 0.52. The company has a quick ratio of 0.62, a current ratio of 0.68 and a debt-to-equity ratio of 1.00.

Unitil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Tuesday, November 14th will be paid a dividend of $0.405 per share. The ex-dividend date of this dividend is Monday, November 13th. This represents a $1.62 annualized dividend and a yield of 3.41%. Unitil’s dividend payout ratio is currently 60.00%.

Unitil Company Profile

(Free Report)

Unitil Corporation, a public utility holding company, engages in the distribution of electricity and natural gas. It operates through two segments, Utility Electric Operations, Utility Gas Operations. The company distributes electricity in the southeastern seacoast and state capital regions of New Hampshire, and the greater Fitchburg area of north central Massachusetts; and distributes natural gas in southeastern New Hampshire and portions of southern and central Maine, including the city of Portland and the Lewiston-Auburn area, as well as electricity and natural gas in the greater Fitchburg area of north central Massachusetts.