AlphaCrest Capital Management LLC Lowers Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

AlphaCrest Capital Management LLC lowered its holdings in Southwest Gas Holdings, Inc. (NYSE:SWX) by 47.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 8,117 shares of the utilities provider’s stock after selling 7,439 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Southwest Gas were worth $537,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bbva USA bought a new position in shares of Southwest Gas during the 2nd quarter valued at about $30,000. Meeder Asset Management Inc. grew its position in Southwest Gas by 61.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 475 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 180 shares during the last quarter. Captrust Financial Advisors grew its position in Southwest Gas by 116.9% during the 1st quarter. Captrust Financial Advisors now owns 1,698 shares of the utilities provider’s stock worth $117,000 after acquiring an additional 915 shares during the last quarter. Belpointe Asset Management LLC bought a new position in Southwest Gas during the 2nd quarter worth approximately $138,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Southwest Gas by 67.2% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,330 shares of the utilities provider’s stock worth $229,000 after buying an additional 1,338 shares during the period. 82.58% of the stock is currently owned by hedge funds and other institutional investors.

Southwest Gas stock opened at $64.92 on Thursday. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 3.05 and a beta of 0.17. The stock has a fifty day simple moving average of $69.22 and a two-hundred day simple moving average of $68.80. Southwest Gas Holdings, Inc. has a 12 month low of $57.00 and a 12 month high of $75.00. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.87.

Southwest Gas (NYSE:SWX) last posted its earnings results on Thursday, August 5th. The utilities provider reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.03). The business had revenue of $821.42 million during the quarter, compared to the consensus estimate of $775.39 million. Southwest Gas had a return on equity of 9.68% and a net margin of 7.74%. On average, equities research analysts forecast that Southwest Gas Holdings, Inc. will post 4.09 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 1st. Shareholders of record on Monday, November 15th will be issued a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Friday, November 12th. Southwest Gas’s payout ratio is 57.49%.

SWX has been the subject of several research analyst reports. Wells Fargo & Company dropped their price objective on Southwest Gas from $77.00 to $72.00 and set an “equal weight” rating for the company in a report on Wednesday, June 30th. Zacks Investment Research cut Southwest Gas from a “buy” rating to a “hold” rating in a research note on Saturday, July 3rd. Finally, Bank of America upgraded Southwest Gas from an “underperform” rating to a “neutral” rating in a research note on Wednesday, June 30th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $67.25.

About Southwest Gas

Southwest Gas Holdings, Inc engages in the energy business. It operates through the following segments: Natural Gas Operations and Utility Infrastructure Services. The Natural Gas Operations segment focuses in purchasing, distribution, and transportation of natural gas in Arizona, California, and Nevada.

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Institutional Ownership by Quarter for Southwest Gas (NYSE:SWX)

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