Sterling Capital Management LLC Maintains Holdings in Southwest Gas Corporation (SWX)

Sterling Capital Management LLC continued to hold its stake in Southwest Gas Corporation (NYSE:SWX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 323,560 shares of the utilities provider’s stock at the close of the 2nd quarter. Sterling Capital Management LLC owned about 0.68% of Southwest Gas Corporation worth $23,639,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SWX. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Southwest Gas Corporation by 7.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,725 shares of the utilities provider’s stock valued at $126,000 after acquiring an additional 118 shares during the period. Flinton Capital Management LLC grew its stake in Southwest Gas Corporation by 69.7% in the second quarter. Flinton Capital Management LLC now owns 2,416 shares of the utilities provider’s stock valued at $177,000 after acquiring an additional 992 shares during the period. Riverhead Capital Management LLC grew its stake in Southwest Gas Corporation by 74.8% in the second quarter. Riverhead Capital Management LLC now owns 2,797 shares of the utilities provider’s stock valued at $204,000 after acquiring an additional 1,197 shares during the period. GW&K Investment Management LLC acquired a new stake in Southwest Gas Corporation in the second quarter valued at approximately $205,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Southwest Gas Corporation in the second quarter valued at approximately $213,000. 76.80% of the stock is owned by hedge funds and other institutional investors.

Shares of Southwest Gas Corporation (NYSE SWX) traded up 0.34% on Friday, hitting $80.81. The company had a trading volume of 27,117 shares. The stock has a market capitalization of $3.85 billion, a PE ratio of 25.02 and a beta of 0.60. The firm’s 50 day moving average price is $79.09 and its 200-day moving average price is $79.62. Southwest Gas Corporation has a 52 week low of $66.55 and a 52 week high of $86.65.

Southwest Gas Corporation (NYSE:SWX) last posted its quarterly earnings results on Monday, August 7th. The utilities provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.09. Southwest Gas Corporation had a return on equity of 9.09% and a net margin of 6.46%. The company had revenue of $560.50 million for the quarter, compared to the consensus estimate of $564.84 million. During the same quarter in the prior year, the business posted $0.19 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Analysts forecast that Southwest Gas Corporation will post $3.44 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.495 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.98 annualized dividend and a yield of 2.46%. Southwest Gas Corporation’s dividend payout ratio is 61.11%.

In other Southwest Gas Corporation news, VP Kenneth J. Kenny sold 600 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $80.90, for a total transaction of $48,540.00. Following the sale, the vice president now directly owns 17,137 shares in the company, valued at approximately $1,386,383.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Karen S. Haller sold 1,300 shares of the stock in a transaction on Friday, August 11th. The shares were sold at an average price of $80.95, for a total value of $105,235.00. Following the sale, the senior vice president now owns 26,639 shares in the company, valued at $2,156,427.05. The disclosure for this sale can be found here. Company insiders own 0.99% of the company’s stock.

SWX has been the subject of a number of research reports. BidaskClub raised Southwest Gas Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. KeyCorp reissued a “hold” rating on shares of Southwest Gas Corporation in a research note on Friday, September 1st. Jefferies Group LLC reissued a “hold” rating and issued a $70.00 price objective on shares of Southwest Gas Corporation in a research note on Thursday, August 31st. Finally, Zacks Investment Research raised Southwest Gas Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $78.00.

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About Southwest Gas Corporation

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

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