Asset Management One Co. Ltd. bought a new position in shares of Southwest Gas Corporation (NYSE:SWX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,700 shares of the utilities provider’s stock, valued at approximately $1,780,000.
Other hedge funds have also bought and sold shares of the company. Great West Life Assurance Co. Can boosted its holdings in Southwest Gas by 2.2% in the second quarter. Great West Life Assurance Co. Can now owns 28,587 shares of the utilities provider’s stock valued at $2,088,000 after purchasing an additional 612 shares during the period. Sei Investments Co. boosted its holdings in Southwest Gas by 103.1% in the second quarter. Sei Investments Co. now owns 29,804 shares of the utilities provider’s stock valued at $2,178,000 after purchasing an additional 15,133 shares during the period. Arizona State Retirement System boosted its holdings in Southwest Gas by 1.5% in the second quarter. Arizona State Retirement System now owns 20,100 shares of the utilities provider’s stock valued at $1,469,000 after purchasing an additional 300 shares during the period. Teacher Retirement System of Texas boosted its holdings in Southwest Gas by 1.7% in the second quarter. Teacher Retirement System of Texas now owns 3,799 shares of the utilities provider’s stock valued at $278,000 after purchasing an additional 65 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Southwest Gas by 65.4% during the 2nd quarter. SG Americas Securities LLC now owns 18,983 shares of the utilities provider’s stock worth $1,387,000 after buying an additional 7,508 shares during the last quarter. 77.41% of the stock is owned by institutional investors.
In other news, VP Kenneth J. Kenny sold 600 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $80.17, for a total transaction of $48,102.00. Following the sale, the vice president now owns 16,746 shares of the company’s stock, valued at approximately $1,342,526.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Gregory J. Peterson sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $85.72, for a total value of $85,720.00. The disclosure for this sale can be found here. Insiders sold a total of 5,120 shares of company stock worth $423,096 in the last ninety days. 0.99% of the stock is owned by corporate insiders.
Southwest Gas (NYSE:SWX) last announced its quarterly earnings data on Tuesday, November 7th. The utilities provider reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.07. Southwest Gas had a return on equity of 9.56% and a net margin of 6.64%. The company had revenue of $593.15 million for the quarter, compared to analyst estimates of $579.40 million. During the same quarter in the previous year, the company earned $0.05 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. equities research analysts predict that Southwest Gas Corporation will post 3.38 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be issued a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Wednesday, February 14th. Southwest Gas’s dividend payout ratio is presently 58.24%.
A number of brokerages have issued reports on SWX. Citigroup lifted their price target on Southwest Gas from $79.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, November 20th. UBS Group lifted their target price on Southwest Gas from $83.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 8th. KeyCorp reiterated a “hold” rating on shares of Southwest Gas in a research report on Friday, October 20th. Jefferies Group reiterated a “hold” rating and set a $70.00 target price on shares of Southwest Gas in a research report on Monday, October 16th. Finally, Zacks Investment Research upgraded Southwest Gas from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $83.00.
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Southwest Gas Company Profile
Southwest Gas Holdings, Inc, formerly Southwest Gas Corporation, is engaged in the business of purchasing, distributing and transporting natural gas. The Company operates through two segments: natural gas operations and construction services, which includes the operations of the Company’s subsidiary, Centuri Construction Group, Inc (Centuri).
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