Hennessy Advisors Inc. Reduces Position in Southwest Gas Holdings Inc (SWX)

Hennessy Advisors Inc. cut its position in shares of Southwest Gas Holdings Inc (NYSE:SWX) by 2.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 228,317 shares of the utilities provider’s stock after selling 6,000 shares during the period. Hennessy Advisors Inc. owned approximately 0.46% of Southwest Gas worth $18,044,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Southwest Gas by 1.4% during the second quarter. BlackRock Inc. now owns 5,704,362 shares of the utilities provider’s stock valued at $435,074,000 after buying an additional 79,815 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Southwest Gas by 11.1% during the second quarter. Macquarie Group Ltd. now owns 2,021,062 shares of the utilities provider’s stock valued at $154,147,000 after buying an additional 201,626 shares during the last quarter. Northern Trust Corp boosted its stake in Southwest Gas by 3.8% during the second quarter. Northern Trust Corp now owns 1,457,907 shares of the utilities provider’s stock valued at $111,194,000 after buying an additional 53,165 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Southwest Gas during the second quarter valued at approximately $62,438,000. Finally, Dimensional Fund Advisors LP boosted its stake in Southwest Gas by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 702,137 shares of the utilities provider’s stock valued at $53,553,000 after buying an additional 5,626 shares during the last quarter. 83.26% of the stock is owned by institutional investors.

In other Southwest Gas news, SVP Eric Debonis sold 700 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $79.18, for a total transaction of $55,426.00. Following the sale, the senior vice president now directly owns 12,954 shares in the company, valued at $1,025,697.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Kenneth J. Kenny sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $82.67, for a total value of $41,335.00. Following the sale, the vice president now owns 15,509 shares in the company, valued at $1,282,129.03. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,500 shares of company stock worth $121,331. Company insiders own 1.00% of the company’s stock.

Shares of SWX stock opened at $81.43 on Thursday. 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 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.05. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 22.49, a P/E/G ratio of 5.32 and a beta of 0.43.

Southwest Gas (NYSE:SWX) last issued its quarterly earnings data on Tuesday, August 7th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.11. Southwest Gas had a return on equity of 10.22% and a net margin of 7.51%. The business had revenue of $670.88 million for the quarter, compared to the consensus estimate of $611.60 million. On average, equities research analysts anticipate that Southwest Gas Holdings Inc will post 3.71 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 15th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $2.08 dividend on an annualized basis and a yield of 2.55%. Southwest Gas’s dividend payout ratio (DPR) is presently 57.46%.

A number of brokerages recently commented on SWX. Bank of America lowered Southwest Gas from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $76.00 to $74.00 in a research note on Monday, July 30th. Citigroup increased their price target on Southwest Gas from $73.00 to $80.00 and gave the company a “hold” rating in a research note on Wednesday, October 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $78.17.

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 Natural Gas Operations and Construction Services segments. As of December 31, 2017, it had 2,015,000 residential, commercial, industrial, and other natural gas customers.

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

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