Federated Investors Inc. PA raised its position in Southwest Gas Holdings Inc (NYSE:SWX) by 86.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 197,946 shares of the utilities provider’s stock after buying an additional 91,966 shares during the quarter. Federated Investors Inc. PA owned approximately 0.37% of Southwest Gas worth $16,283,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its position in Southwest Gas by 3.2% during the first quarter. BlackRock Inc. now owns 6,437,376 shares of the utilities provider’s stock worth $529,536,000 after buying an additional 201,816 shares during the period. Vanguard Group Inc grew its stake in Southwest Gas by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 4,846,087 shares of the utilities provider’s stock valued at $382,987,000 after purchasing an additional 71,500 shares in the last quarter. Northern Trust Corp grew its stake in Southwest Gas by 2.5% during the 4th quarter. Northern Trust Corp now owns 1,470,306 shares of the utilities provider’s stock valued at $112,479,000 after purchasing an additional 35,503 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Southwest Gas by 0.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,140,088 shares of the utilities provider’s stock valued at $87,217,000 after purchasing an additional 9,075 shares in the last quarter. Finally, FMR LLC lifted its holdings in Southwest Gas by 124.5% during the 4th quarter. FMR LLC now owns 1,059,753 shares of the utilities provider’s stock worth $81,072,000 after buying an additional 587,738 shares during the last quarter. Institutional investors own 82.80% of the company’s stock.
In other Southwest Gas news, CEO John P. Hester sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $90.60, for a total value of $181,200.00. Following the sale, the chief executive officer now owns 62,694 shares in the company, valued at $5,680,076.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Eric Debonis sold 350 shares of Southwest Gas stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $83.19, for a total transaction of $29,116.50. Following the completion of the sale, the senior vice president now directly owns 10,800 shares of the company’s stock, valued at $898,452. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,350 shares of company stock valued at $555,637. Company insiders own 0.83% of the company’s stock.
Southwest Gas (NYSE:SWX) last issued its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.19. The firm had revenue of $807.10 million for the quarter, compared to analyst estimates of $516.97 million. Southwest Gas had a return on equity of 9.34% and a net margin of 6.69%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.63 earnings per share. On average, research analysts anticipate that Southwest Gas Holdings Inc will post 3.92 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.545 per share. The ex-dividend date is Wednesday, August 14th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.44%. Southwest Gas’s dividend payout ratio is 59.24%.
A number of research analysts have commented on the company. Zacks Investment Research downgraded Southwest Gas from a “hold” rating to a “sell” rating in a report on Wednesday, April 17th. UBS Group downgraded Southwest Gas from a “buy” rating to a “neutral” rating and raised their price target for the stock from $88.00 to $89.00 in a report on Friday, March 29th. Wells Fargo & Co reissued a “hold” rating on shares of Southwest Gas in a report on Friday, May 10th. Finally, Williams Capital raised Southwest Gas from a “hold” rating to a “buy” rating and lifted their target price for the company from $81.00 to $96.00 in a research note on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $87.33.
Southwest Gas Company Profile
Southwest Gas Holdings, Inc, through its subsidiaries, purchases, distributes, and transports natural gas in Arizona, Nevada, and California. The company operates through two segments, Natural Gas Operations and Utility Infrastructure Services. As of December 31, 2018, it had 2,047,000 residential, commercial, industrial, and other natural gas customers.
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