AXA lowered its position in Southwest Gas Corporation (NYSE:SWX) by 27.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,330 shares of the utilities provider’s stock after selling 49,470 shares during the period. AXA owned approximately 0.27% of Southwest Gas worth $10,116,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SWX. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Southwest Gas by 7.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,725 shares of the utilities provider’s stock valued at $126,000 after buying an additional 118 shares during the last quarter. Flinton Capital Management LLC grew its holdings in Southwest Gas by 69.7% during the 2nd quarter. Flinton Capital Management LLC now owns 2,416 shares of the utilities provider’s stock valued at $177,000 after buying an additional 992 shares during the last quarter. Riverhead Capital Management LLC grew its holdings in Southwest Gas by 74.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,797 shares of the utilities provider’s stock valued at $204,000 after buying an additional 1,197 shares during the last quarter. Ashfield Capital Partners LLC acquired a new stake in Southwest Gas during the 3rd quarter valued at $212,000. Finally, Shelton Capital Management acquired a new stake in Southwest Gas during the 2nd quarter valued at $235,000. Institutional investors and hedge funds own 77.41% of the company’s stock.
Shares of Southwest Gas Corporation (NYSE SWX) traded down $1.06 on Friday, hitting $75.75. The company had a trading volume of 147,766 shares, compared to its average volume of 170,766. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.01. The stock has a market cap of $3,666.28, a price-to-earnings ratio of 22.28, a P/E/G ratio of 3.62 and a beta of 0.61. Southwest Gas Corporation has a twelve month low of $72.32 and a twelve month high of $86.87.
Southwest Gas (NYSE:SWX) last announced its quarterly earnings results on Tuesday, November 7th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $593.15 million during the quarter, compared to the consensus estimate of $579.40 million. During the same period in the prior year, the firm earned $0.05 EPS. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. equities research analysts forecast that Southwest Gas Corporation will post 3.38 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be issued a $0.495 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $1.98 annualized dividend and a yield of 2.61%. Southwest Gas’s dividend payout ratio is currently 58.24%.
SWX has been the topic of a number of recent analyst reports. Zacks Investment Research raised Southwest Gas from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Friday, January 5th. UBS Group raised Southwest Gas from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Tuesday, December 19th. Jefferies Group reissued a “hold” rating and set a $70.00 price target on shares of Southwest Gas in a research note on Monday, October 16th. KeyCorp reissued a “hold” rating on shares of Southwest Gas in a research note on Friday, October 20th. Finally, Citigroup increased their price target on Southwest Gas from $79.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, November 20th. One equities research 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’s stock. The company currently has a consensus rating of “Hold” and an average price target of $83.00.
In related news, SVP Eric Debonis sold 3,520 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $82.18, for a total value of $289,273.60. Following the completion of the sale, the senior vice president now directly owns 16,060 shares in the company, valued at approximately $1,319,810.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Kenneth J. Kenny sold 600 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $80.17, for a total value of $48,102.00. Following the sale, the vice president now owns 16,746 shares of the company’s stock, valued at $1,342,526.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,120 shares of company stock valued at $423,096. 0.99% of the stock is owned by insiders.
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Southwest Gas 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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