Panagora Asset Management Inc. reduced its stake in shares of Southwest Gas Holdings Inc (NYSE:SWX) by 2.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,985 shares of the utilities provider’s stock after selling 1,969 shares during the quarter. Panagora Asset Management Inc.’s holdings in Southwest Gas were worth $5,768,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd grew its holdings in Southwest Gas by 20.2% in the second quarter. Dynamic Technology Lab Private Ltd now owns 4,307 shares of the utilities provider’s stock valued at $328,000 after purchasing an additional 723 shares during the period. Dimensional Fund Advisors LP grew its holdings in Southwest Gas by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 702,137 shares of the utilities provider’s stock valued at $53,553,000 after purchasing an additional 5,626 shares during the period. JPMorgan Chase & Co. grew its holdings in Southwest Gas by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 547,364 shares of the utilities provider’s stock valued at $43,260,000 after purchasing an additional 7,620 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in Southwest Gas in the second quarter valued at approximately $20,463,000. Finally, NumerixS Investment Technologies Inc acquired a new stake in Southwest Gas in the second quarter valued at approximately $115,000. Institutional investors own 82.53% of the company’s stock.
Shares of SWX opened at $80.57 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.09. Southwest Gas Holdings Inc has a 12 month low of $62.53 and a 12 month high of $85.97. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 5.35 and a beta of 0.40.
Southwest Gas (NYSE:SWX) last issued its quarterly earnings results on Tuesday, November 6th. The utilities provider reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.11. The firm had revenue of $668.10 million for the quarter, compared to analyst estimates of $224.00 million. Southwest Gas had a return on equity of 10.01% and a net margin of 7.39%. The business’s revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share. Research analysts anticipate that Southwest Gas Holdings Inc will post 3.76 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Thursday, February 14th. Southwest Gas’s dividend payout ratio is presently 57.46%.
Several analysts have commented on SWX shares. Citigroup raised their price objective on Southwest Gas from $73.00 to $80.00 and gave the company a “hold” rating in a report on Wednesday, October 3rd. Bank of America set a $76.00 price objective on Southwest Gas and gave the company a “sell” rating in a report on Wednesday, October 3rd. Zacks Investment Research lowered Southwest Gas from a “strong-buy” rating to a “hold” rating in a report on Friday, October 19th. ValuEngine raised Southwest Gas from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Finally, Williams Capital raised their price objective on Southwest Gas from $74.00 to $78.00 and gave the company a “hold” rating in a report on Monday. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $79.00.
In other news, VP Kenneth J. Kenny sold 500 shares of Southwest Gas stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $82.67, for a total value of $41,335.00. Following the sale, the vice president now directly owns 15,509 shares of the company’s stock, valued at $1,282,129.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.99% of the company’s stock.
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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.
Further Reading: Stock Symbols and CUSIP Explained
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