Southwest Gas Holdings Inc (NYSE:SWX) VP Kenneth J. Kenny sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $82.67, for a total value of $41,335.00. Following the completion of the transaction, the vice president now directly owns 15,509 shares of the company’s stock, valued at approximately $1,282,129.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of SWX stock opened at $82.13 on Monday. Southwest Gas Holdings Inc has a one year low of $62.53 and a one year high of $86.87. The company has a market capitalization of $4.04 billion, a P/E ratio of 22.69, a P/E/G ratio of 5.53 and a beta of 0.45. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.05.
Southwest Gas (NYSE:SWX) last announced its earnings results on Tuesday, August 7th. The utilities provider reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.11. Southwest Gas had a return on equity of 10.22% and a net margin of 7.51%. The business had revenue of $670.88 million for the quarter, compared to analysts’ expectations of $611.60 million. sell-side analysts anticipate that Southwest Gas Holdings Inc will post 3.71 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. Verition Fund Management LLC boosted its holdings in Southwest Gas by 9.6% in the second quarter. Verition Fund Management LLC now owns 7,295 shares of the utilities provider’s stock valued at $556,000 after acquiring an additional 640 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Southwest Gas by 11.1% in the second quarter. Advisors Asset Management Inc. now owns 10,983 shares of the utilities provider’s stock valued at $357,000 after acquiring an additional 1,097 shares during the last quarter. California Public Employees Retirement System boosted its holdings in Southwest Gas by 1.1% in the second quarter. California Public Employees Retirement System now owns 133,037 shares of the utilities provider’s stock valued at $10,147,000 after acquiring an additional 1,394 shares during the last quarter. Paloma Partners Management Co bought a new stake in Southwest Gas in the second quarter valued at approximately $326,000. Finally, Macquarie Group Ltd. boosted its holdings in Southwest Gas by 11.1% in the second quarter. Macquarie Group Ltd. now owns 2,021,062 shares of the utilities provider’s stock valued at $154,147,000 after acquiring an additional 201,626 shares during the last quarter. Institutional investors and hedge funds own 83.26% of the company’s stock.
Several research analysts have recently issued reports on the company. Bank of America downgraded Southwest Gas from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $76.00 to $74.00 in a research note on Monday, July 30th. Zacks Investment Research raised Southwest Gas from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Wednesday, May 30th. Finally, ValuEngine raised Southwest Gas from a “sell” rating to a “hold” rating in a research note on Tuesday, May 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Southwest Gas has an average rating of “Hold” and a consensus target price of $76.67.
Southwest Gas Company 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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