Prudential Financial Inc. lessened its position in Southwest Gas Holdings Inc (NYSE:SWX) by 6.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 267,104 shares of the utilities provider’s stock after selling 19,396 shares during the period. Prudential Financial Inc. owned about 0.50% of Southwest Gas worth $23,938,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Quadrant Capital Group LLC increased its holdings in Southwest Gas by 189.9% during the first quarter. Quadrant Capital Group LLC now owns 400 shares of the utilities provider’s stock valued at $32,000 after buying an additional 262 shares during the last quarter. TCI Wealth Advisors Inc. increased its holdings in Southwest Gas by 39.4% during the second quarter. TCI Wealth Advisors Inc. now owns 407 shares of the utilities provider’s stock valued at $36,000 after buying an additional 115 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Southwest Gas during the first quarter valued at approximately $41,000. NEXT Financial Group Inc purchased a new stake in Southwest Gas during the second quarter valued at approximately $47,000. Finally, Hanson McClain Inc. increased its holdings in Southwest Gas by 173.5% during the first quarter. Hanson McClain Inc. now owns 547 shares of the utilities provider’s stock valued at $45,000 after buying an additional 347 shares during the last quarter. Hedge funds and other institutional investors own 82.60% of the company’s stock.
Shares of NYSE SWX traded down $0.09 during midday trading on Thursday, reaching $91.05. The stock had a trading volume of 92,558 shares, compared to its average volume of 212,022. The stock has a 50-day moving average of $89.31 and a 200-day moving average of $86.07. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 3.77 and a beta of 0.30. Southwest Gas Holdings Inc has a 12-month low of $72.68 and a 12-month high of $92.31.
Southwest Gas (NYSE:SWX) last announced its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.02). The firm had revenue of $713.01 million during the quarter, compared to analysts’ expectations of $289.70 million. Southwest Gas had a return on equity of 8.86% and a net margin of 6.61%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the company earned $0.44 earnings per share. As a group, analysts forecast that Southwest Gas Holdings Inc will post 3.93 EPS for the current fiscal year.
A number of analysts have commented on SWX shares. Williams Capital raised shares of Southwest Gas from a “hold” rating to a “buy” rating and upped their target price for the company from $81.00 to $96.00 in a report on Tuesday, June 18th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Southwest Gas in a report on Monday, June 10th. ValuEngine cut shares of Southwest Gas from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. UBS Group set a $91.00 target price on shares of Southwest Gas and gave the company a “hold” rating in a report on Friday, July 19th. Finally, Zacks Investment Research cut shares of Southwest Gas from a “buy” rating to a “hold” rating in a report on Saturday, August 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $89.00.
In other Southwest Gas news, SVP Justin L. Brown acquired 418 shares of the stock in a transaction on Tuesday, June 11th. The stock was acquired at an average price of $86.20 per share, for a total transaction of $36,031.60. Following the completion of the transaction, the senior vice president now directly owns 5,720 shares of the company’s stock, valued at $493,064. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kenneth J. Kenny sold 500 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $90.26, for a total transaction of $45,130.00. Following the transaction, the vice president now owns 16,121 shares of the company’s stock, valued at approximately $1,455,081.46. The disclosure for this sale can be found here. Corporate insiders own 0.83% of the company’s stock.
About Southwest Gas
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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