SG Americas Securities LLC lessened its stake in Southwest Gas Holdings Inc (NYSE:SWX) by 46.2% in the 1st quarter, HoldingsChannel reports. The fund owned 6,200 shares of the utilities provider’s stock after selling 5,319 shares during the quarter. SG Americas Securities LLC’s holdings in Southwest Gas were worth $510,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of SWX. FMR LLC grew its position in shares of Southwest Gas by 124.5% during the 4th quarter. FMR LLC now owns 1,059,753 shares of the utilities provider’s stock worth $81,072,000 after buying an additional 587,738 shares during the period. Norges Bank acquired a new stake in shares of Southwest Gas during the 4th quarter worth approximately $33,953,000. BlackRock Inc. grew its position in shares of Southwest Gas by 6.4% during the 4th quarter. BlackRock Inc. now owns 6,235,560 shares of the utilities provider’s stock worth $477,022,000 after buying an additional 374,766 shares during the period. Victory Capital Management Inc. grew its position in shares of Southwest Gas by 59.5% during the 4th quarter. Victory Capital Management Inc. now owns 935,646 shares of the utilities provider’s stock worth $71,577,000 after buying an additional 348,953 shares during the period. Finally, Magellan Asset Management Ltd grew its position in shares of Southwest Gas by 826.1% during the 4th quarter. Magellan Asset Management Ltd now owns 371,435 shares of the utilities provider’s stock worth $28,415,000 after buying an additional 331,328 shares during the period. Hedge funds and other institutional investors own 84.60% of the company’s stock.
Southwest Gas stock traded up $0.10 during midday trading on Friday, hitting $87.00. 55,063 shares of the stock were exchanged, compared to its average volume of 297,015. Southwest Gas Holdings Inc has a 52 week low of $70.90 and a 52 week high of $85.97. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 3.50 and a beta of 0.37. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.85 and a quick ratio of 0.85.
Southwest Gas (NYSE:SWX) last released its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. Southwest Gas had a net margin of 6.69% and a return on equity of 9.34%. The business had revenue of $807.10 million for the quarter, compared to analyst estimates of $516.97 million. During the same quarter last year, the firm earned $1.63 EPS. Southwest Gas’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, analysts predict that Southwest Gas Holdings Inc will post 3.92 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be paid a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 2.51%. The ex-dividend date is Wednesday, August 14th. Southwest Gas’s payout ratio is 59.24%.
In other news, SVP Eric Debonis acquired 2,000 shares of Southwest Gas stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average price of $82.67 per share, with a total value of $165,340.00. Following the purchase, the senior vice president now directly owns 11,150 shares of the company’s stock, valued at $921,770.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas E. Chestnut sold 1,700 shares of Southwest Gas stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $83.54, for a total transaction of $142,018.00. Following the transaction, the director now directly owns 27,323 shares in the company, valued at approximately $2,282,563.42. The disclosure for this sale can be found here. Insiders have sold a total of 5,450 shares of company stock worth $459,207 in the last three months. 0.83% of the stock is owned by insiders.
Several equities research analysts have recently commented on SWX shares. ValuEngine upgraded shares of Southwest Gas from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th. Zacks Investment Research upgraded shares of Southwest Gas from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a research report on Wednesday, May 1st. Williams Capital reiterated a “hold” rating on shares of Southwest Gas in a research report on Monday, March 18th. Finally, Wells Fargo & Co reiterated a “hold” rating on shares of Southwest Gas in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $84.33.
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About Southwest Gas
Southwest Gas Holdings, Inc, through its subsidiaries, purchases, distributes, and transports natural gas in Arizona, Nevada, and California. The company operates through two segments, Natural Gas Operations and Utility Infrastructure Services. As of December 31, 2018, it had 2,047,000 residential, commercial, industrial, and other natural gas customers.
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