Investment Manager Cuts Stake in Utility Stock, According to Latest SEC Filing
Key Points
Sold 4,223,557 Algonquin Power & Utilities shares; estimated transaction value $27.38 million (based on average closing prices from January to March 2026)
Quarter-end position value decreased by $25.98 million, reflecting both share sales and stock price movement
Transaction equaled 10.24% of Packer & Co Ltd's reportable AUM
After the trade, the fund held 289,556 shares valued at $1.78 million
The position, previously 7.4% of AUM, now represents 0.66%; it is outside the fund’s top five holdings
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Packer & Co Ltd reported a significant reduction in its Algonquin Power & Utilities (NYSE:AQN) holding, selling 4,223,557 shares in the first quarter. The estimated transaction value, based on quarterly average pricing, was $27.38 million, according to a May 13, 2026, SEC filing.
This North American utility and renewable energy company serves over one million connections through regulated and clean energy operations.
What happened
According to a SEC filing dated May 13, 2026, Packer & Co Ltd sold 4,223,557 shares of Algonquin Power & Utilities during the first quarter. The estimated transaction value was $27.38 million, based on the period's average closing prices. The fund’s remaining stake at quarter’s end was 289,556 shares, worth $1.78 million. The net position value declined by $25.98 million over the quarter, reflecting both trading activity and price changes.
What else to know
This was a sell transaction, reducing the position to 0.66% of the fund’s reportable AUM.
Top holdings after the filing:
- NYSE:PBR.A: $74.04 million (27.7% of AUM)
- NYSE:CNC: $46.33 million (17.3% of AUM)
- NYSE:NXE: $28.13 million (10.5% of AUM)
- NYSE:SDRL: $27.89 million (10.4% of AUM)
- NYSE:NE: $25.27 million (9.5% of AUM)
The stock’s one-year total return was 8.8%; it underperformed the S&P 500 by 17.86 percentage points over the same period.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $2.51 billion |
| Net Income (TTM) | $136.10 million |
| Dividend Yield | 4.39% |
| Price (as of market close May 12, 2026) | $5.95 |
Company snapshot
- Owns and operates regulated utilities and renewable energy assets, including hydroelectric, wind, solar, and thermal facilities, as well as electric, natural gas, and water distribution services.
- Generates revenue primarily through regulated utility operations and the sale of renewable energy and related products across North America and select international markets.
- Serves over one million customer connections in the electric, natural gas, and water sectors, targeting residential, commercial, and municipal clients.
Algonquin Power & Utilities is a diversified utility and renewable energy company with a significant presence in North America. The company leverages a dual-segment strategy, combining stable, rate-regulated utility operations with a growing portfolio of renewable generation assets. Its scale, integrated asset base, and focus on clean energy position it as a competitive player in the transition to sustainable utility infrastructure.
What this transaction means for investors
Packer & Co., an Australian investment manager, recently disclosed the sale of 4.2 million shares of Algonquin Power & Utilities stock, valued at approximately $27.4 million, during the first quarter (the three months ending on March 31, 2026). Here are some key takeaways for investors.
To begin, Algonquin is a utility stock. Over the last year, shares have generated a decent return, climbing as much as 28% before pulling back in recent weeks. The stock sports a dividend yield of 4.4%, making it attractive to income-oriented investors.
One of the company’s core goals over the last few years has been improving its balance sheet. Consequently, management has focused on reducing the company’s net financial debt, which has fallen from a five-year high of over $9.0 billion to the current level of $6.7 billion.
At any rate, the company remains firmly in a turnaround phase, with management focused on strengthening the company’s balance sheet and maintaining its dividend.
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Jake Lerch has no position in any of the stocks mentioned. The Motley Fool recommends Noble Plc. The Motley Fool has a disclosure policy.
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