Dynamic Technology Lab Private Ltd reduced its holdings in Southwest Gas Holdings Inc (NYSE:SWX) by 56.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,735 shares of the utilities provider’s stock after selling 7,551 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Southwest Gas were worth $387,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. William Blair Investment Management LLC acquired a new position in Southwest Gas in the 4th quarter worth about $31,632,000. Millennium Management LLC increased its position in Southwest Gas by 130.6% in the 1st quarter. Millennium Management LLC now owns 671,315 shares of the utilities provider’s stock worth $45,401,000 after purchasing an additional 380,179 shares during the last quarter. Rothschild Asset Management Inc. acquired a new position in Southwest Gas in the 1st quarter worth about $11,365,000. BlackRock Inc. increased its position in Southwest Gas by 2.6% in the 1st quarter. BlackRock Inc. now owns 5,624,547 shares of the utilities provider’s stock worth $380,389,000 after purchasing an additional 142,761 shares during the last quarter. Finally, Macquarie Group Ltd. increased its position in Southwest Gas by 8.6% in the 4th quarter. Macquarie Group Ltd. now owns 1,730,377 shares of the utilities provider’s stock worth $131,163,000 after purchasing an additional 136,574 shares during the last quarter. 81.11% of the stock is owned by hedge funds and other institutional investors.
SWX has been the topic of several research reports. 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. ValuEngine raised Southwest Gas from a “sell” rating to a “hold” rating in a report on Tuesday, May 29th. Zacks Investment Research raised Southwest Gas from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a report on Wednesday, May 30th. Williams Capital started coverage on Southwest Gas in a report on Tuesday, April 10th. They set a “hold” rating and a $73.00 price objective on the stock. Finally, Bank of America increased their price objective on Southwest Gas from $73.00 to $76.00 and gave the company a “neutral” rating in a report on Tuesday, June 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $77.00.
Shares of NYSE SWX opened at $78.14 on Thursday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.06. The stock has a market cap of $3.72 billion, a PE ratio of 21.59 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.
Southwest Gas (NYSE:SWX) last issued its quarterly earnings data on Monday, May 7th. The utilities provider reported $1.63 EPS for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.03. The business had revenue of $754.30 million for the quarter, compared to analyst estimates of $524.56 million. Southwest Gas had a return on equity of 10.32% and a net margin of 7.69%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.45 EPS. research analysts expect that Southwest Gas Holdings Inc will post 3.58 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Wednesday, August 15th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Tuesday, August 14th. Southwest Gas’s dividend payout ratio is 57.46%.
In other Southwest Gas news, Director Thomas A. Thomas bought 1,000 shares of the stock in a transaction on Friday, May 11th. The shares were purchased at an average price of $72.91 per share, with a total value of $72,910.00. Following the acquisition, the director now directly owns 27,280 shares of the company’s stock, valued at approximately $1,988,984.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Eric Debonis sold 650 shares of the firm’s stock in a transaction that occurred 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 sale, 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 4,903 shares of company stock worth $356,889. 1.00% of the stock is currently owned by insiders.
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.
Want to see what other hedge funds are holding SWX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southwest Gas Holdings Inc (NYSE:SWX).
Receive News & Ratings for Southwest Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Gas and related companies with MarketBeat.com's FREE daily email newsletter.