Sei Investments Co. lifted its holdings in shares of Southwest Gas Holdings Inc (NYSE:SWX) by 18.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 126,062 shares of the utilities provider’s stock after buying an additional 19,961 shares during the period. Sei Investments Co. owned approximately 0.26% of Southwest Gas worth $9,614,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Mount Yale Investment Advisors LLC acquired a new position in shares of Southwest Gas during the first quarter worth approximately $100,000. First Mercantile Trust Co. boosted its position in shares of Southwest Gas by 51.9% during the second quarter. First Mercantile Trust Co. now owns 2,050 shares of the utilities provider’s stock worth $156,000 after buying an additional 700 shares during the period. Ashfield Capital Partners LLC acquired a new position in shares of Southwest Gas during the second quarter worth approximately $209,000. LPL Financial LLC acquired a new position in shares of Southwest Gas during the fourth quarter worth approximately $214,000. Finally, Pitcairn Co. boosted its position in shares of Southwest Gas by 51.0% during the first quarter. Pitcairn Co. now owns 4,175 shares of the utilities provider’s stock worth $282,000 after buying an additional 1,411 shares during the period. Institutional investors and hedge funds own 82.32% of the company’s stock.
Several equities research analysts recently commented on the company. Bank of America boosted their target price on Southwest Gas from $73.00 to $76.00 and gave the stock a “neutral” rating in a report on Tuesday, June 5th. ValuEngine cut Southwest Gas from a “hold” rating to a “sell” rating in a report on Thursday, May 17th. Finally, Zacks Investment Research raised Southwest Gas from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Wednesday, May 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $76.67.
In other Southwest Gas news, EVP Karen S. Haller sold 1,339 shares of the company’s stock in a transaction on Wednesday, May 23rd. The stock was sold at an average price of $71.32, for a total value of $95,497.48. Following the transaction, the executive vice president now owns 24,216 shares of the company’s stock, valued at $1,727,085.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Eric Debonis sold 650 shares of the company’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $73.07, for a total value of $47,495.50. Following the completion of the transaction, the senior vice president now directly owns 12,979 shares in the company, valued at approximately $948,375.53. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,289 shares of company stock worth $318,099. 1.00% of the stock is owned by corporate insiders.
Shares of NYSE:SWX opened at $79.94 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 market cap of $3.98 billion, a P/E ratio of 20.96, a PEG ratio of 5.57 and a beta of 0.50. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.05.
Southwest Gas (NYSE:SWX) last announced its earnings results on Tuesday, August 7th. The utilities provider reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.11. Southwest Gas had a return on equity of 10.22% and a net margin of 7.51%. The firm had revenue of $670.88 million for the quarter, compared to analysts’ expectations of $611.60 million. analysts anticipate that Southwest Gas Holdings Inc will post 3.63 earnings per share for the current fiscal year.
Southwest Gas 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.
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