Central Pacific Bank Trust Division Purchases New Stake in Southwest Gas Holdings, Inc. (NYSE:SWX)

Central Pacific Bank Trust Division acquired a new position in shares of Southwest Gas Holdings, Inc. (NYSE:SWXFree Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,700 shares of the utilities provider’s stock, valued at approximately $658,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Jones Financial Companies Lllp increased its stake in shares of Southwest Gas by 461.9% in the fourth quarter. Jones Financial Companies Lllp now owns 1,371 shares of the utilities provider’s stock valued at $87,000 after purchasing an additional 1,127 shares during the period. Central Valley Advisors LLC acquired a new position in Southwest Gas in the first quarter worth approximately $204,000. Clear Creek Financial Management LLC purchased a new position in Southwest Gas in the 1st quarter worth about $224,000. Allworth Financial LP raised its holdings in shares of Southwest Gas by 520.4% during the fourth quarter. Allworth Financial LP now owns 3,071 shares of the utilities provider’s stock valued at $195,000 after acquiring an additional 2,576 shares during the period. Finally, Assetmark Inc. raised its position in Southwest Gas by 22.6% during the fourth quarter. Assetmark Inc. now owns 3,152 shares of the utilities provider’s stock valued at $200,000 after buying an additional 581 shares during the period. 92.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company started coverage on Southwest Gas in a report on Monday, May 13th. They set an “equal weight” rating and a $77.00 price objective for the company.

Read Our Latest Stock Report on SWX

Insider Buying and Selling

In related news, insider Justin L. Brown sold 2,625 shares of Southwest Gas stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $76.50, for a total value of $200,812.50. Following the sale, the insider now owns 23,830 shares of the company’s stock, valued at approximately $1,822,995. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.39% of the stock is owned by company insiders.

Southwest Gas Stock Performance

Shares of NYSE:SWX traded up $0.71 during trading on Wednesday, hitting $70.87. 4,264 shares of the stock were exchanged, compared to its average volume of 415,633. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 26.30, a price-to-earnings-growth ratio of 3.47 and a beta of 0.37. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.04 and a current ratio of 1.04. The company’s fifty day simple moving average is $74.50 and its 200-day simple moving average is $69.69. Southwest Gas Holdings, Inc. has a 1-year low of $56.17 and a 1-year high of $78.46.

Southwest Gas (NYSE:SWXGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.33). Southwest Gas had a return on equity of 6.71% and a net margin of 3.56%. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the company earned $1.69 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. Sell-side analysts expect that Southwest Gas Holdings, Inc. will post 3.36 EPS for the current fiscal year.

Southwest Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be paid a $0.62 dividend. The ex-dividend date is Thursday, August 15th. This represents a $2.48 dividend on an annualized basis and a yield of 3.50%. Southwest Gas’s payout ratio is 92.88%.

About Southwest Gas

(Free Report)

Southwest Gas Holdings, Inc, through its subsidiaries, distributes and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Distribution, Utility Infrastructure Services, and Pipeline and Storage segments. It also provides trenching, installation, and replacement of underground pipes, as well as maintenance services for energy distribution systems.

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Institutional Ownership by Quarter for Southwest Gas (NYSE:SWX)

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