Hanson McClain Inc. grew its position in Southwest Gas Holdings Inc (NYSE:SWX) by 173.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 547 shares of the utilities provider’s stock after buying an additional 347 shares during the quarter. Hanson McClain Inc.’s holdings in Southwest Gas were worth $45,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in SWX. JPMorgan Chase & Co. boosted its holdings in shares of Southwest Gas by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 547,364 shares of the utilities provider’s stock worth $43,260,000 after buying an additional 7,620 shares during the period. Nordea Investment Management AB acquired a new position in shares of Southwest Gas in the third quarter worth about $4,817,000. Federated Investors Inc. PA boosted its holdings in shares of Southwest Gas by 24.4% in the third quarter. Federated Investors Inc. PA now owns 82,411 shares of the utilities provider’s stock worth $6,513,000 after buying an additional 16,182 shares during the period. Vanguard Group Inc boosted its holdings in shares of Southwest Gas by 1.5% in the third quarter. Vanguard Group Inc now owns 4,846,087 shares of the utilities provider’s stock worth $382,987,000 after buying an additional 71,500 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in shares of Southwest Gas by 4.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 14,100 shares of the utilities provider’s stock worth $1,079,000 after buying an additional 600 shares during the period. Institutional investors own 84.99% of the company’s stock.
Several brokerages have commented on SWX. Zacks Investment Research cut shares of Southwest Gas from a “buy” rating to a “hold” rating in a report on Friday. Wells Fargo & Co reiterated a “hold” rating on shares of Southwest Gas in a report on Friday, May 10th. UBS Group cut shares of Southwest Gas from a “buy” rating to a “neutral” rating and raised their target price for the stock from $88.00 to $89.00 in a report on Friday, March 29th. Finally, Williams Capital restated a “hold” rating on shares of Southwest Gas in a report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $83.83.
SWX stock opened at $84.67 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.90. The company has a market cap of $4.48 billion, a P/E ratio of 23.01, a P/E/G ratio of 3.50 and a beta of 0.37. Southwest Gas Holdings Inc has a 52 week low of $70.34 and a 52 week high of $85.97.
Southwest Gas (NYSE:SWX) last posted its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. The business had revenue of $807.10 million during the quarter, compared to analysts’ expectations of $516.97 million. Southwest Gas had a net margin of 6.69% and a return on equity of 9.34%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company posted $1.63 earnings per share. As a group, analysts anticipate that Southwest Gas Holdings Inc will post 3.89 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be issued a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Wednesday, August 14th. Southwest Gas’s dividend payout ratio is currently 59.24%.
In related news, SVP Eric Debonis sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $83.68, for a total transaction of $117,152.00. Following the transaction, the senior vice president now owns 12,464 shares of the company’s stock, valued at $1,042,987.52. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas E. Chestnut sold 1,700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $83.54, for a total transaction of $142,018.00. Following the transaction, the director now directly owns 27,323 shares in the company, valued at approximately $2,282,563.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,450 shares of company stock valued at $288,287. 0.83% of the stock is currently owned by corporate insiders.
Southwest Gas 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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