Cramer Rosenthal Mcglynn LLC cut its position in shares of Southwest Gas Holdings Inc (NYSE:SWX) by 2.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 222,122 shares of the utilities provider’s stock after selling 5,219 shares during the quarter. Cramer Rosenthal Mcglynn LLC’s holdings in Southwest Gas were worth $19,907,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Southwest Gas by 8.4% during the second quarter. BlackRock Inc. now owns 6,980,618 shares of the utilities provider’s stock worth $625,602,000 after buying an additional 543,242 shares during the period. Northern Trust Corp increased its position in shares of Southwest Gas by 1.1% during the second quarter. Northern Trust Corp now owns 1,526,210 shares of the utilities provider’s stock worth $136,779,000 after buying an additional 16,550 shares during the period. Principal Financial Group Inc. increased its position in shares of Southwest Gas by 0.3% during the first quarter. Principal Financial Group Inc. now owns 610,468 shares of the utilities provider’s stock worth $50,217,000 after buying an additional 1,851 shares during the period. JPMorgan Chase & Co. increased its position in shares of Southwest Gas by 8.2% during the second quarter. JPMorgan Chase & Co. now owns 602,748 shares of the utilities provider’s stock worth $53,458,000 after buying an additional 45,428 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Southwest Gas by 15.4% during the fourth quarter. Geode Capital Management LLC now owns 591,797 shares of the utilities provider’s stock worth $45,272,000 after buying an additional 79,083 shares during the period. Institutional investors own 83.16% of the company’s stock.
In other Southwest Gas news, VP Kenneth J. Kenny sold 500 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $90.26, for a total value of $45,130.00. Following the transaction, the vice president now directly owns 16,121 shares of the company’s stock, valued at $1,455,081.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John P. Hester sold 2,000 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $90.60, for a total transaction of $181,200.00. Following the completion of the transaction, the chief executive officer now directly owns 62,694 shares in the company, valued at $5,680,076.40. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by company insiders.
SWX has been the subject of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Southwest Gas in a research report on Wednesday, July 17th. They set an “overweight” rating and a $93.00 price objective for the company. Williams Capital upgraded shares of Southwest Gas from a “hold” rating to a “buy” rating and increased their price objective for the stock from $81.00 to $96.00 in a research report on Tuesday, June 18th. UBS Group set a $91.00 price objective on shares of Southwest Gas and gave the stock a “hold” rating in a research report on Friday, July 19th. ValuEngine cut shares of Southwest Gas from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Co set a $93.00 target price on shares of Southwest Gas and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $89.86.
NYSE SWX traded up $0.35 on Friday, hitting $92.19. 778 shares of the company were exchanged, compared to its average volume of 207,448. The company has a market cap of $4.88 billion, a PE ratio of 25.08, a PEG ratio of 3.71 and a beta of 0.30. Southwest Gas Holdings Inc has a 12 month low of $72.68 and a 12 month high of $92.31. The stock has a fifty day moving average of $89.40 and a 200-day moving average of $86.35. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.98.
Southwest Gas (NYSE:SWX) last issued its earnings results on Tuesday, August 6th. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.02). The company had revenue of $713.01 million for the quarter, compared to the consensus estimate of $289.70 million. Southwest Gas had a return on equity of 8.86% and a net margin of 6.61%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 earnings per share. On average, analysts expect that Southwest Gas Holdings Inc will post 3.92 earnings per share for the current year.
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 two segments, Natural Gas Operations and Utility Infrastructure Services. As of December 31, 2018, it had 2,047,000 residential, commercial, industrial, and other natural gas customers.
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