Allianz Asset Management GmbH lessened its holdings in Southwest Gas Holdings Inc (NYSE:SWX) by 48.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,962 shares of the utilities provider’s stock after selling 61,483 shares during the quarter. Allianz Asset Management GmbH owned 0.14% of Southwest Gas worth $5,308,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. raised its position in Southwest Gas by 7.5% during the third quarter. Advisors Asset Management Inc. now owns 10,229 shares of the utilities provider’s stock worth $794,000 after acquiring an additional 711 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Southwest Gas by 37.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,621 shares of the utilities provider’s stock worth $211,000 after acquiring an additional 718 shares in the last quarter. Creative Planning raised its position in Southwest Gas by 23.5% during the fourth quarter. Creative Planning now owns 5,359 shares of the utilities provider’s stock worth $431,000 after acquiring an additional 1,019 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Southwest Gas by 17.7% in the third quarter. Pacer Advisors Inc. now owns 7,058 shares of the utilities provider’s stock valued at $548,000 after purchasing an additional 1,060 shares during the period. Finally, Mutual of America Capital Management LLC grew its stake in shares of Southwest Gas by 3.3% in the fourth quarter. Mutual of America Capital Management LLC now owns 39,539 shares of the utilities provider’s stock valued at $3,182,000 after acquiring an additional 1,249 shares in the last quarter. 80.14% of the stock is currently owned by institutional investors and hedge funds.
In other Southwest Gas news, SVP Eric Debonis sold 1,400 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $63.43, for a total transaction of $88,802.00. Following the completion of the transaction, the senior vice president now owns 14,229 shares in the company, valued at approximately $902,545.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.99% of the stock is currently owned by company insiders.
NYSE SWX traded up $0.40 during trading hours on Friday, reaching $69.07. The company’s stock had a trading volume of 251,489 shares, compared to its average volume of 268,620. The firm has a market cap of $3,326.34, a PE ratio of 19.08 and a beta of 0.53. Southwest Gas Holdings Inc has a 52 week low of $62.53 and a 52 week high of $86.87. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.81 and a quick ratio of 0.81.
Southwest Gas (NYSE:SWX) last issued its quarterly earnings data on Tuesday, February 27th. The utilities provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $740.43 million during the quarter, compared to analyst estimates of $705.70 million. Southwest Gas had a net margin of 7.61% and a return on equity of 10.00%. research analysts anticipate that Southwest Gas Holdings Inc will post 3.58 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Tuesday, May 15th will be issued a dividend of $0.52 per share. This is a positive change from Southwest Gas’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, May 14th. This represents a $2.08 annualized dividend and a yield of 3.01%. Southwest Gas’s dividend payout ratio (DPR) is presently 54.70%.
Several equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of Southwest Gas from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a research note on Friday, March 30th. Jefferies Group restated a “hold” rating and issued a $69.00 price target on shares of Southwest Gas in a research note on Wednesday, March 28th. Citigroup reduced their price target on shares of Southwest Gas from $82.00 to $73.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 27th. Finally, UBS reiterated a “buy” rating and issued a $89.00 price objective (down previously from $93.00) on shares of Southwest Gas in a report on Friday, March 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $76.75.
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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 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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