Congress Asset Management Co. MA lessened its position in shares of Southwest Gas Holdings Inc (NYSE:SWX) by 9.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,757 shares of the utilities provider’s stock after selling 2,895 shares during the quarter. Congress Asset Management Co. MA owned 0.05% of Southwest Gas worth $2,618,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of SWX. Nuveen Asset Management LLC grew its holdings in Southwest Gas by 2,559.3% during the second quarter. Nuveen Asset Management LLC now owns 767,471 shares of the utilities provider’s stock valued at $68,780,000 after purchasing an additional 738,611 shares during the period. BlackRock Inc. grew its holdings in Southwest Gas by 8.4% during the second quarter. BlackRock Inc. now owns 6,980,618 shares of the utilities provider’s stock valued at $625,602,000 after purchasing an additional 543,242 shares during the period. Invesco Ltd. grew its holdings in Southwest Gas by 174.2% during the second quarter. Invesco Ltd. now owns 810,004 shares of the utilities provider’s stock valued at $72,592,000 after purchasing an additional 514,618 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Southwest Gas by 6.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,587,115 shares of the utilities provider’s stock worth $321,477,000 after acquiring an additional 205,495 shares during the period. Finally, Reaves W H & Co. Inc. boosted its stake in shares of Southwest Gas by 149.6% in the second quarter. Reaves W H & Co. Inc. now owns 306,260 shares of the utilities provider’s stock worth $27,447,000 after acquiring an additional 183,556 shares during the period. Institutional investors own 83.30% of the company’s stock.
In other Southwest Gas news, VP Kenneth J. Kenny sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $90.26, for a total transaction of $45,130.00. Following the sale, the vice president now directly owns 16,121 shares in the company, valued at $1,455,081.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.83% of the company’s stock.
Shares of NYSE:SWX traded down $2.09 during mid-day trading on Friday, reaching $77.64. The stock had a trading volume of 53,582 shares, compared to its average volume of 231,249. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.98. The company has a market cap of $4.61 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 2.92 and a beta of 0.22. Southwest Gas Holdings Inc has a 1 year low of $72.68 and a 1 year high of $92.94. The business’s 50 day moving average price is $89.12 and its 200 day moving average price is $88.18.
Southwest Gas (NYSE:SWX) last posted its earnings results on Wednesday, November 6th. The utilities provider reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). The firm had revenue of $725.23 million during the quarter, compared to analysts’ expectations of $229.10 million. Southwest Gas had a return on equity of 8.86% and a net margin of 6.61%. Southwest Gas’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Analysts predict that Southwest Gas Holdings Inc will post 4.02 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a dividend of $0.545 per share. The ex-dividend date is Thursday, November 14th. This represents a $2.18 dividend on an annualized basis and a yield of 2.81%. Southwest Gas’s dividend payout ratio (DPR) is presently 59.24%.
A number of equities analysts have recently weighed in on SWX shares. Wells Fargo & Co set a $93.00 price objective on Southwest Gas and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. ValuEngine lowered Southwest Gas from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. UBS Group set a $91.00 price objective on Southwest Gas and gave the stock a “hold” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. started coverage on Southwest Gas in a research note on Wednesday, July 17th. They issued an “overweight” rating and a $93.00 price objective for the company. Finally, Zacks Investment Research lowered Southwest Gas from a “buy” rating to a “hold” rating in a research note on Saturday, August 17th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $94.60.
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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