Baird Financial Group Inc. cut its stake in shares of Southwest Gas Holdings Inc (NYSE:SWX) by 9.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,775 shares of the utilities provider’s stock after selling 2,300 shares during the period. Baird Financial Group Inc.’s holdings in Southwest Gas were worth $1,737,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Mount Yale Investment Advisors LLC acquired a new stake in Southwest Gas during the first quarter worth approximately $100,000. NumerixS Investment Technologies Inc acquired a new stake in Southwest Gas during the second quarter worth approximately $115,000. First Mercantile Trust Co. lifted its position in 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 acquiring an additional 700 shares during the last quarter. Ashfield Capital Partners LLC acquired a new stake in Southwest Gas during the second quarter worth approximately $209,000. Finally, Stevens Capital Management LP acquired a new stake in Southwest Gas during the second quarter worth approximately $270,000. Hedge funds and other institutional investors own 83.26% of the company’s stock.
NYSE SWX opened at $82.13 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.05 and a quick ratio of 1.05. Southwest Gas Holdings Inc has a 1-year low of $62.53 and a 1-year high of $86.87. The company has a market capitalization of $4.04 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 5.53 and a beta of 0.45.
Southwest Gas (NYSE:SWX) last released its quarterly earnings results on Tuesday, August 7th. The utilities provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.11. Southwest Gas had a net margin of 7.51% and a return on equity of 10.22%. The company had revenue of $670.88 million during the quarter, compared to the consensus estimate of $611.60 million. sell-side analysts anticipate that Southwest Gas Holdings Inc will post 3.71 earnings per share for the current year.
In other news, SVP Eric Debonis sold 700 shares of Southwest Gas stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $79.18, for a total value of $55,426.00. Following the completion of the sale, the senior vice president now directly owns 12,954 shares in the company, valued at $1,025,697.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Kenneth J. Kenny sold 500 shares of Southwest Gas stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $82.67, for a total transaction of $41,335.00. Following the completion of the sale, the vice president now owns 15,509 shares of the company’s stock, valued at $1,282,129.03. The disclosure for this sale can be found here. 0.99% of the stock is currently owned by insiders.
Several equities research analysts have issued reports on the stock. Bank of America downgraded shares of Southwest Gas from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $76.00 to $74.00 in a research report on Monday, July 30th. Zacks Investment Research upgraded shares of Southwest Gas from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Wednesday, May 30th. Finally, ValuEngine upgraded shares of Southwest Gas from a “sell” rating to a “hold” rating in a research report on Tuesday, May 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $76.67.
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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