David Anderson, the CEO of Northwest Natural Holding Co (NYSE:NWN), a utility company with a market capitalization of $1.58 billion and a P/E ratio of 19, has sold 7,500 shares of the company's common stock, according to a recent SEC filing. According to InvestingPro analysis, NWN currently appears to be trading above its Fair Value. The shares were sold at an average price of $39.7842, totaling approximately $298,381. This transaction was conducted under a Rule 10b5-1 trading plan, which Anderson established in September 2024 as part of his retirement preparations. Anderson is set to retire from his position as CEO on April 1, 2025. Following the sale, Anderson retains direct ownership of 144,298 shares and indirect ownership of 11,484.896 shares through the company's Deferred Compensation Plan. Notably, NWN has maintained and raised its dividend for 54 consecutive years, currently offering a 4.95% yield. InvestingPro subscribers can access 6 additional key insights about NWN's financial health and future prospects in the comprehensive Pro Research Report.
In other recent news, Northwest Natural Holding Company has been active in the financial markets, issuing $135 million in senior notes. The notes, divided into two series, bear an interest of 5.52% and 5.86% respectively, and are set to mature in 2029 and 2034. The company has the option to prepay these notes, offering potential flexibility in its financial management.
The company also reported a Q3 net loss of $27.2 million, a slight increase from the previous year. However, Northwest Natural reaffirmed its full-year earnings guidance, citing growth in its customer base and a significant revenue requirement increase.
In addition, the company is expanding into the water sector and advancing renewable natural gas initiatives. The first renewable project is already operational, contributing to revenue and cash flow. These developments reflect Northwest Natural's strategic efforts to diversify its operations and position itself for future growth.
Lastly, the company expects to maintain strong capital expenditures in 2024, and a robust pipeline of smaller acquisitions in the water sector is anticipated. This information comes from recent earnings calls and analyst notes, providing investors with a glimpse into the company's current operations and future plans.
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