Rothschild & Co. Asset Management US Inc. lowered its stake in Southwest Gas Holdings, Inc. (NYSE:SWX) by 12.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 401,117 shares of the utilities provider’s stock after selling 56,551 shares during the quarter. Rothschild & Co. Asset Management US Inc. owned about 0.72% of Southwest Gas worth $25,310,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Advisor Group Holdings Inc. bought a new position in Southwest Gas during the 1st quarter worth approximately $269,000. Envestnet Asset Management Inc. lifted its holdings in Southwest Gas by 1.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 31,885 shares of the utilities provider’s stock worth $2,202,000 after buying an additional 332 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in Southwest Gas by 9.5% during the 2nd quarter. New York State Teachers Retirement System now owns 81,693 shares of the utilities provider’s stock worth $5,641,000 after buying an additional 7,100 shares during the last quarter. First Trust Advisors LP lifted its holdings in Southwest Gas by 67.9% during the 2nd quarter. First Trust Advisors LP now owns 11,028 shares of the utilities provider’s stock worth $761,000 after buying an additional 4,460 shares during the last quarter. Finally, Liberty One Investment Management LLC lifted its holdings in Southwest Gas by 9.9% during the 2nd quarter. Liberty One Investment Management LLC now owns 10,151 shares of the utilities provider’s stock worth $701,000 after buying an additional 911 shares during the last quarter. Institutional investors and hedge funds own 85.22% of the company’s stock.
In other news, SVP Justin L. Brown sold 819 shares of Southwest Gas stock in a transaction on Monday, November 9th. The stock was sold at an average price of $72.24, for a total transaction of $59,164.56. Following the transaction, the senior vice president now directly owns 7,124 shares in the company, valued at approximately $514,637.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 670 shares of company stock worth $41,326 in the last ninety days. 0.75% of the stock is owned by company insiders.
Several brokerages recently issued reports on SWX. Bank of America cut their price target on Southwest Gas from $68.00 to $63.00 and set a “neutral” rating on the stock in a report on Wednesday, September 23rd. Jefferies Financial Group cut their price target on Southwest Gas from $72.00 to $69.00 and set a “hold” rating on the stock in a report on Friday, July 24th. Wells Fargo & Company raised Southwest Gas from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $76.00 to $73.00 in a report on Wednesday, August 19th. They noted that the move was a valuation call. ValuEngine downgraded Southwest Gas from a “hold” rating to a “sell” rating in a report on Thursday, October 1st. Finally, Zacks Investment Research downgraded Southwest Gas from a “buy” rating to a “hold” rating in a report on Thursday, July 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Southwest Gas currently has a consensus rating of “Hold” and a consensus price target of $75.43.
Southwest Gas stock traded down $1.10 during mid-day trading on Tuesday, hitting $69.34. 1,339 shares of the company’s stock traded hands, compared to its average volume of 377,726. The firm has a 50 day moving average price of $67.05 and a 200 day moving average price of $68.53. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.01. The company has a market cap of $3.98 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 3.39 and a beta of 0.20. Southwest Gas Holdings, Inc. has a one year low of $45.68 and a one year high of $81.62.
Southwest Gas (NYSE:SWX) last announced its earnings results on Thursday, November 5th. The utilities provider reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.13. The firm had revenue of $791.23 million for the quarter, compared to the consensus estimate of $222.95 million. Southwest Gas had a return on equity of 8.84% and a net margin of 6.55%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. On average, analysts expect that Southwest Gas Holdings, Inc. will post 3.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Friday, November 13th. Southwest Gas’s payout ratio is currently 57.87%.
Southwest Gas Profile
Southwest Gas Holdings, Inc, through its subsidiaries, purchases, distributes, and transports natural gas in Arizona, Nevada, and California. The company operates in two segments, Natural Gas Operations and Utility Infrastructure Services. As of December 31, 2019, it had 2,081,000 residential, commercial, industrial, and other natural gas customers.
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