Cambiar Investors LLC has reduced its stake in Williams Companies, Inc. (NYSE: WMB) by 16.9% during the second quarter of 2023. According to a recent filing with the Securities and Exchange Commission, Cambiar now holds 9,503 shares of Williams Companies after selling 1,927 shares in that period. The value of Cambiar’s holdings stands at approximately $597,000.
Several other institutional investors have also adjusted their positions in Williams Companies. For instance, Welch & Forbes LLC increased its stake by 4.2% during the same quarter, acquiring an additional 300 shares for a total of 7,509 shares, valued at $472,000. Similarly, Sumitomo Life Insurance Co. raised its position by 4.1%, bringing its total to 71,020 shares worth $4,461,000 after purchasing 2,793 shares.
Great Lakes Retirement Inc. also boosted its stake by 0.8%, now owning 147,221 shares valued at $9,247,000 following the acquisition of 1,114 shares. Additionally, AlphaStar Capital Management LLC entered the market with a new investment worth approximately $273,000, while Linscomb Wealth Inc. increased its holdings by 1.1%, now owning 185,565 shares valued at $11,655,000. Overall, institutional investors hold 86.44% of Williams Companies’ stock.
In other developments within the company, Chief Operating Officer Larry C. Larsen sold 4,500 shares on August 11, 2023, at an average price of $58.47, amounting to a total of $263,115. Following this transaction, Larsen holds 77,612 shares valued at approximately $4,537,973.64, reflecting a 5.48% decrease in his position.
On September 4, 2023, Senior Vice President Terrance Lane Wilson also sold 2,000 shares at an average price of $57.62, totaling $115,240. After this sale, Wilson owns 311,645 shares, valued at approximately $17,956,984.90, marking a 0.64% decrease in his holdings. Currently, company insiders own 0.44% of the stock.
Williams Companies released its quarterly earnings report on August 4, 2023, revealing earnings of $0.46 per share, which fell short of analysts’ expectations of $0.49 by $0.03. The company reported a net margin of 21.63% and a return on equity of 16.23%, with revenues of $2.78 billion, below analyst estimates of $2.90 billion. This represents a 19.0% increase compared to the same quarter in the previous year, when the earnings per share were $0.43. Williams Companies has set its guidance for fiscal year 2025 at $2.010-2.190 earnings per share.
Additionally, the company has announced a quarterly dividend of $0.50, set to be paid on December 29, 2023, with the record date for investors on December 12, 2023. This dividend represents an annualized payout of $2.00 and a yield of 3.4%. The dividend payout ratio currently stands at 100.50%.
Equities analysts have also weighed in on Williams Companies’ performance. BMO Capital Markets recently initiated coverage with an “outperform” rating and a price target of $66.00. Jefferies Financial Group has also given a “buy” rating with a target price of $72.00. UBS Group raised its target from $74.00 to $78.00, maintaining a “buy” rating. Overall, the consensus rating among analysts is “Moderate Buy” with a price target of $66.73.
Williams Companies, Inc. operates as an energy infrastructure company primarily in the United States, managing various segments including Transmission & Gulf of Mexico, Northeast G&P, West, and Gas & NGL Marketing Services. The company is recognized for its extensive network of natural gas pipelines and related assets.
