Oppenheimer & Co. Inc. Reduces Holdings in Navigator Holdings Ltd. (NYSE:NVGS)

Oppenheimer & Co. Inc. lessened its holdings in Navigator Holdings Ltd. (NYSE:NVGS) by 12.3% during the 3rd quarter, Holdings Channel reports. The firm owned 529,941 shares of the shipping company’s stock after selling 74,000 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Navigator were worth $8,516,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. State of New Jersey Common Pension Fund D lifted its holdings in Navigator by 14.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 43,107 shares of the shipping company’s stock valued at $693,000 after purchasing an additional 5,592 shares in the last quarter. Graham Capital Wealth Management LLC acquired a new stake in Navigator during the third quarter worth approximately $3,444,000. Tectonic Advisors LLC raised its holdings in Navigator by 3.5% in the 3rd quarter. Tectonic Advisors LLC now owns 63,900 shares of the shipping company’s stock valued at $1,027,000 after acquiring an additional 2,152 shares during the last quarter. Perkins Coie Trust Co lifted its stake in shares of Navigator by 66.7% during the 3rd quarter. Perkins Coie Trust Co now owns 10,000 shares of the shipping company’s stock worth $161,000 after purchasing an additional 4,000 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Navigator by 9.1% during the 3rd quarter. SG Americas Securities LLC now owns 8,221 shares of the shipping company’s stock worth $132,000 after purchasing an additional 684 shares during the period. 18.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NVGS has been the subject of several analyst reports. Citigroup initiated coverage on Navigator in a research note on Wednesday, July 31st. They issued a “buy” rating and a $22.00 target price for the company. StockNews.com upgraded shares of Navigator from a “hold” rating to a “buy” rating in a report on Friday, November 8th. DNB Markets began coverage on shares of Navigator in a report on Thursday, September 12th. They issued a “buy” rating and a $22.00 target price for the company. Alliance Global Partners initiated coverage on Navigator in a report on Monday, October 28th. They set a “buy” rating and a $24.00 price objective for the company. Finally, Clarkson Capital raised Navigator from a “neutral” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $21.60.

Navigator Stock Performance

Shares of NVGS stock opened at $15.87 on Thursday. The company has a market cap of $1.16 billion, a P/E ratio of 14.04 and a beta of 1.50. Navigator Holdings Ltd. has a 52 week low of $13.72 and a 52 week high of $18.18. The company has a quick ratio of 0.71, a current ratio of 0.75 and a debt-to-equity ratio of 0.45. The business has a 50 day moving average of $15.94 and a two-hundred day moving average of $16.34.

Navigator (NYSE:NVGS) last posted its earnings results on Wednesday, August 14th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Navigator had a return on equity of 7.40% and a net margin of 14.48%. The company had revenue of $129.55 million for the quarter, compared to analysts’ expectations of $117.92 million. As a group, analysts anticipate that Navigator Holdings Ltd. will post 1.28 EPS for the current year.

Navigator Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, November 25th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.26%. Navigator’s dividend payout ratio (DPR) is presently 17.70%.

Navigator Company Profile

Navigator Holdings Ltd. engages in owning and operating a fleet of liquefied gas carriers worldwide. It provides international and regional seaborne transportation services of petrochemical gases, liquefied petroleum gases, and ammonia for energy companies, industrial users, and commodity traders. The company also offers ship shore infrastructure and consultancy services.