Verition Fund Management LLC Purchases Shares of 6,655 Southwest Gas Holdings Inc (SWX)

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Verition Fund Management LLC purchased a new position in shares of Southwest Gas Holdings Inc (NYSE:SWX) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,655 shares of the utilities provider’s stock, valued at approximately $450,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SWX. Teacher Retirement System of Texas increased its position in Southwest Gas by 313.0% during the fourth quarter. Teacher Retirement System of Texas now owns 16,225 shares of the utilities provider’s stock worth $1,306,000 after buying an additional 12,296 shares during the last quarter. California Public Employees Retirement System increased its position in Southwest Gas by 6.7% during the fourth quarter. California Public Employees Retirement System now owns 113,854 shares of the utilities provider’s stock worth $9,163,000 after buying an additional 7,164 shares during the last quarter. Swiss National Bank increased its position in Southwest Gas by 2.4% during the fourth quarter. Swiss National Bank now owns 81,100 shares of the utilities provider’s stock worth $6,527,000 after buying an additional 1,900 shares during the last quarter. Sei Investments Co. increased its position in Southwest Gas by 187.8% during the fourth quarter. Sei Investments Co. now owns 65,180 shares of the utilities provider’s stock worth $5,246,000 after buying an additional 42,532 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Southwest Gas by 8.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 113,192 shares of the utilities provider’s stock worth $9,110,000 after buying an additional 9,011 shares during the last quarter. 81.11% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have weighed in on SWX. Bank of America boosted their price target on Southwest Gas from $73.00 to $76.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 5th. Zacks Investment Research raised Southwest Gas from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Wednesday, May 30th. ValuEngine raised Southwest Gas from a “sell” rating to a “hold” rating in a research report on Tuesday, May 29th. Williams Capital started coverage on Southwest Gas in a research report on Tuesday, April 10th. They set a “hold” rating and a $73.00 price target on the stock. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $69.00 target price on shares of Southwest Gas in a research report on Wednesday, March 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Southwest Gas currently has an average rating of “Hold” and a consensus price target of $77.00.

In related news, SVP Eric Debonis sold 600 shares of the stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $72.87, for a total transaction of $43,722.00. Following the sale, the senior vice president now owns 13,629 shares of the company’s stock, valued at $993,145.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas E. Chestnut sold 1,600 shares of the stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $74.80, for a total value of $119,680.00. Following the sale, the director now directly owns 26,529 shares in the company, valued at approximately $1,984,369.20. The disclosure for this sale can be found here. Insiders sold 4,903 shares of company stock worth $356,889 in the last ninety days. 1.00% of the stock is owned by company insiders.

Southwest Gas stock opened at $76.81 on Tuesday. Southwest Gas Holdings Inc has a 12 month low of $62.53 and a 12 month high of $86.87. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market capitalization of $3.77 billion, a PE ratio of 20.57 and a beta of 0.53.

Southwest Gas (NYSE:SWX) last posted its earnings results on Monday, May 7th. The utilities provider reported $1.63 EPS for the quarter, beating the consensus estimate of $1.60 by $0.03. Southwest Gas had a return on equity of 10.32% and a net margin of 7.69%. The company had revenue of $754.30 million for the quarter, compared to the consensus estimate of $524.56 million. During the same quarter in the prior year, the business earned $1.45 earnings per share. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. analysts anticipate that Southwest Gas Holdings Inc will post 3.58 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Wednesday, August 15th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Tuesday, August 14th. Southwest Gas’s payout ratio is 57.46%.

Southwest Gas Company Profile

Southwest Gas Holdings, Inc, through its subsidiaries, purchases, distributes, and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Operations and Construction Services segments. As of December 31, 2017, it had 2,015,000 residential, commercial, industrial, and other natural gas customers.

Institutional Ownership by Quarter for Southwest Gas (NYSE:SWX)

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