Cramer Rosenthal Mcglynn LLC cut its stake in Southwest Gas Holdings Inc (NYSE:SWX) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 256,622 shares of the utilities provider’s stock after selling 5,035 shares during the period. Cramer Rosenthal Mcglynn LLC owned approximately 0.54% of Southwest Gas worth $20,653,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. First Republic Investment Management Inc. bought a new position in shares of Southwest Gas in the fourth quarter valued at approximately $203,000. Advisor Group Inc. boosted its holdings in Southwest Gas by 61.5% during the fourth quarter. Advisor Group Inc. now owns 2,545 shares of the utilities provider’s stock worth $205,000 after buying an additional 969 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Southwest Gas by 37.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,621 shares of the utilities provider’s stock worth $211,000 after buying an additional 718 shares in the last quarter. Ashfield Capital Partners LLC bought a new stake in Southwest Gas during the third quarter worth approximately $212,000. Finally, CIBC Asset Management Inc bought a new stake in Southwest Gas during the third quarter worth approximately $238,000. Institutional investors and hedge funds own 80.14% of the company’s stock.
Shares of Southwest Gas Holdings Inc (NYSE:SWX) opened at $70.65 on Wednesday. The firm has a market cap of $3,404.37, a P/E ratio of 17.53 and a beta of 0.57. Southwest Gas Holdings Inc has a 1-year low of $62.53 and a 1-year high of $86.87. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Tuesday, May 15th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.94%. This is a boost from Southwest Gas’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, May 14th. Southwest Gas’s dividend payout ratio (DPR) is presently 49.13%.
SWX has been the subject of a number of research reports. UBS Group restated a “buy” rating and set a $89.00 target price (down from $93.00) on shares of Southwest Gas in a report on Friday, March 2nd. Zacks Investment Research upgraded shares of Southwest Gas from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a report on Friday, January 5th. Finally, Citigroup raised their target price on shares of Southwest Gas from $79.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, November 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $81.50.
In related news, SVP Eric Debonis sold 1,400 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $63.43, for a total value of $88,802.00. Following the completion of the sale, the senior vice president now owns 14,229 shares in the company, valued at approximately $902,545.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.99% of the stock is currently owned by corporate insiders.
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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