Dynamic Technology Lab Private Ltd lifted its position in shares of Southwest Gas Holdings Inc (NYSE:SWX) by 20.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,307 shares of the utilities provider’s stock after buying an additional 723 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Southwest Gas were worth $328,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of SWX. First Mercantile Trust Co. raised its stake 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 in the last quarter. Stifel Financial Corp grew its holdings in shares of Southwest Gas by 15.4% during the first quarter. Stifel Financial Corp now owns 5,898 shares of the utilities provider’s stock worth $403,000 after purchasing an additional 786 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Southwest Gas by 4.8% during the second quarter. Oregon Public Employees Retirement Fund now owns 18,707 shares of the utilities provider’s stock worth $1,427,000 after purchasing an additional 862 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Southwest Gas by 15.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,672 shares of the utilities provider’s stock worth $509,000 after purchasing an additional 914 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Southwest Gas by 3.1% during the second quarter. Arizona State Retirement System now owns 33,572 shares of the utilities provider’s stock worth $2,561,000 after purchasing an additional 1,015 shares during the last quarter. 83.26% of the stock is owned by institutional investors and hedge funds.
SWX has been the topic of several research reports. Bank of America set a $76.00 price target on Southwest Gas and gave the stock a “sell” rating in a report on Wednesday, October 3rd. Citigroup upped their target price on Southwest Gas from $73.00 to $80.00 and gave the company a “hold” rating in a report on Wednesday, October 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $78.17.
SWX traded down $2.02 during trading on Friday, hitting $77.74. The company’s stock had a trading volume of 234,754 shares, compared to its average volume of 224,726. Southwest Gas Holdings Inc has a twelve month low of $62.53 and a twelve month high of $86.87. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $3.88 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 5.32 and a beta of 0.43.
Southwest Gas (NYSE:SWX) last issued its quarterly earnings results on Tuesday, August 7th. The utilities provider reported $0.44 earnings per share (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 firm had revenue of $670.88 million for the quarter, compared to analyst estimates of $611.60 million. Research analysts predict that Southwest Gas Holdings Inc will post 3.71 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 15th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Wednesday, November 14th. Southwest Gas’s payout ratio is 57.46%.
In related news, VP Kenneth J. Kenny sold 500 shares of the stock in a transaction 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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Eric Debonis sold 700 shares of the company’s stock in a transaction 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 transaction, the senior vice president now owns 12,954 shares of the company’s stock, valued at approximately $1,025,697.72. The disclosure for this sale can be found here. Insiders have sold 1,500 shares of company stock worth $121,331 over the last ninety days. 1.00% of the stock is owned by insiders.
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.
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