Goldman Sachs Group Inc. Sells 94,903 Shares of Southwest Gas Corporation (SWX)

Goldman Sachs Group Inc. lowered its holdings in shares of Southwest Gas Corporation (NYSE:SWX) by 31.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 209,913 shares of the utilities provider’s stock after selling 94,903 shares during the period. Goldman Sachs Group Inc. owned 0.44% of Southwest Gas Corporation worth $15,336,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Farmers & Merchants Investments Inc. boosted its stake in Southwest Gas Corporation by 0.3% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 3,971 shares of the utilities provider’s stock worth $290,000 after purchasing an additional 12 shares during the period. Neuberger Berman Group LLC boosted its stake in Southwest Gas Corporation by 0.4% during the 1st quarter. Neuberger Berman Group LLC now owns 3,093 shares of the utilities provider’s stock worth $256,000 after purchasing an additional 13 shares during the period. US Bancorp DE boosted its stake in Southwest Gas Corporation by 0.4% during the 2nd quarter. US Bancorp DE now owns 6,856 shares of the utilities provider’s stock worth $501,000 after purchasing an additional 25 shares during the period. HighTower Advisors LLC boosted its stake in Southwest Gas Corporation by 0.7% during the 1st quarter. HighTower Advisors LLC now owns 3,709 shares of the utilities provider’s stock worth $307,000 after purchasing an additional 27 shares during the period. Finally, World Asset Management Inc boosted its stake in Southwest Gas Corporation by 1.5% during the 2nd quarter. World Asset Management Inc now owns 2,985 shares of the utilities provider’s stock worth $218,000 after purchasing an additional 44 shares during the period. Hedge funds and other institutional investors own 76.80% of the company’s stock.

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Shares of Southwest Gas Corporation (NYSE:SWX) opened at 79.89 on Monday. The firm has a market cap of $3.80 billion, a PE ratio of 24.73 and a beta of 0.60. Southwest Gas Corporation has a 1-year low of $66.84 and a 1-year high of $86.65. The stock has a 50 day moving average of $79.05 and a 200 day moving average of $79.54.

Southwest Gas Corporation (NYSE:SWX) last released its quarterly earnings results on Monday, August 7th. The utilities provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.28 by $0.09. The business had revenue of $560.50 million during the quarter, compared to analyst estimates of $564.84 million. Southwest Gas Corporation had a net margin of 6.46% and a return on equity of 9.09%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 earnings per share. Equities research analysts anticipate that Southwest Gas Corporation will post $3.44 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.495 per share. The ex-dividend date is Tuesday, November 14th. This represents a $1.98 annualized dividend and a dividend yield of 2.48%. Southwest Gas Corporation’s dividend payout ratio is currently 61.11%.

A number of analysts recently weighed in on SWX shares. Jefferies Group LLC upgraded shares of Southwest Gas Corporation from an “underperform” rating to a “hold” rating and increased their price target for the stock from $68.00 to $70.00 in a research note on Wednesday, July 12th. BidaskClub cut shares of Southwest Gas Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. KeyCorp restated a “hold” rating on shares of Southwest Gas Corporation in a research note on Friday, September 1st. Finally, Zacks Investment Research upgraded shares of Southwest Gas Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Southwest Gas Corporation has an average rating of “Hold” and a consensus price target of $78.00.

In other news, VP Kenneth J. Kenny sold 600 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $80.90, for a total transaction of $48,540.00. Following the completion of the transaction, the vice president now owns 17,137 shares in the company, valued at $1,386,383.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Karen S. Haller sold 1,300 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $80.95, for a total transaction of $105,235.00. Following the transaction, the senior vice president now owns 26,639 shares of the company’s stock, valued at approximately $2,156,427.05. The disclosure for this sale can be found here. 0.99% of the stock is currently owned by corporate insiders.

About Southwest Gas Corporation

Southwest Gas Holdings, Inc, formerly Southwest Gas Corporation, is engaged in the business of purchasing, distributing and transporting natural gas. The Company operates through two segments: natural gas operations and construction services, which includes the operations of the Company’s subsidiary, Centuri Construction Group, Inc (Centuri).

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

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