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David Hugo Anderson, CEO of Northwest Natural Holding Co (NYSE:NWN), a utility company with a market capitalization of $1.67 billion, executed a notable stock sale as disclosed in a recent SEC filing. On February 20, Anderson sold 7,500 shares of common stock, amounting to a total transaction value of approximately $307,283. The shares were sold at a weighted average price of $40.9711, with the transaction occurring under a Rule 10b5-1 trading plan. According to InvestingPro data, NWN’s stock has shown resilience with a 21% return over the past year.
This plan was established in September 2024, as part of Anderson’s strategy to diversify his holdings in anticipation of his retirement, effective April 1, 2025. Following this transaction, Anderson retains direct ownership of 130,242 shares, while an additional 10,256 shares are held in a deferred compensation plan. The company maintains a strong dividend track record, having raised dividends for 54 consecutive years, with a current yield of 4.73%. Investors tracking this stock should note that NWN’s next earnings report is scheduled for February 28, 2025. For deeper insights into NWN’s financial health and valuation metrics, check out the comprehensive analysis available on InvestingPro, which includes additional ProTips and detailed financial metrics.
In other recent news, NW Natural Holdings has completed its acquisition of SiEnergy Operating, LLC, a natural gas utility company. This acquisition expands NW Natural Holdings’ presence in the Texas Triangle, which includes Houston, Dallas, and Austin. SiEnergy has been experiencing substantial growth, with a 26% compounded annual growth rate in its rate base over the past five years. Additionally, NW Natural Holdings announced the issuance of $135 million in senior notes to institutional investors. The notes consist of $90 million at a 5.52% interest rate due in 2029 and $45 million at a 5.86% interest rate due in 2034. Furthermore, NW Natural Holdings has appointed Megan H. Berge as the deputy general counsel and corporate secretary. Berge brings extensive experience in environmental law and civil litigation, previously working as a partner at Baker Botts. These developments highlight NW Natural Holdings’ strategic efforts to expand its market presence and strengthen its leadership team.
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