Dynamic Technology Lab Private Ltd Acquires New Position in Unitil Co. (NYSE:UTL)

Dynamic Technology Lab Private Ltd bought a new position in shares of Unitil Co. (NYSE:UTL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,325 shares of the utilities provider’s stock, valued at approximately $451,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wernau Asset Management Inc. acquired a new position in Unitil during the fourth quarter valued at approximately $2,673,000. State Street Corp grew its holdings in shares of Unitil by 6.1% in the 3rd quarter. State Street Corp now owns 723,587 shares of the utilities provider’s stock valued at $43,835,000 after buying an additional 41,511 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Unitil in the 4th quarter valued at $2,082,000. Wellington Management Group LLP acquired a new stake in Unitil during the 3rd quarter worth $1,400,000. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in Unitil by 474.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 27,975 shares of the utilities provider’s stock worth $1,695,000 after acquiring an additional 23,105 shares in the last quarter. Institutional investors own 76.76% of the company’s stock.

Unitil Trading Up 0.8 %

NYSE:UTL opened at $55.62 on Wednesday. The company has a market cap of $903.60 million, a P/E ratio of 18.98 and a beta of 0.58. Unitil Co. has a twelve month low of $47.40 and a twelve month high of $63.52. The business has a 50 day moving average price of $55.98 and a two-hundred day moving average price of $56.66. The company has a quick ratio of 0.76, a current ratio of 0.83 and a debt-to-equity ratio of 1.25.

Unitil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Thursday, February 13th were given a dividend of $0.45 per share. This is a positive change from Unitil’s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, February 13th. This represents a $1.80 annualized dividend and a dividend yield of 3.24%. Unitil’s payout ratio is 61.43%.

Wall Street Analyst Weigh In

Separately, Guggenheim reiterated a “neutral” rating and set a $55.00 price objective on shares of Unitil in a report on Wednesday, February 12th.

Unitil Profile

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.