First Citizens Bank & Trust Co. reduced its stake in shares of Southwest Gas Corp. (NYSE:SWX) by 9.7% during the second quarter, Holdings Channel reports. The fund owned 8,324 shares of the company’s stock after selling 895 shares during the period. First Citizens Bank & Trust Co.’s holdings in Southwest Gas Corp. were worth $655,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of SWX. LS Investment Advisors LLC raised its stake in shares of Southwest Gas Corp. by 75.4% in the second quarter. LS Investment Advisors LLC now owns 2,833 shares of the company’s stock valued at $223,000 after buying an additional 1,218 shares during the last quarter. Eqis Capital Management Inc. raised its stake in shares of Southwest Gas Corp. by 47.1% in the second quarter. Eqis Capital Management Inc. now owns 4,853 shares of the company’s stock valued at $382,000 after buying an additional 1,555 shares during the last quarter. Quotient Investors LLC purchased a new stake in shares of Southwest Gas Corp. during the second quarter valued at about $616,000. Nisa Investment Advisors LLC raised its stake in shares of Southwest Gas Corp. by 0.5% in the second quarter. Nisa Investment Advisors LLC now owns 9,750 shares of the company’s stock valued at $767,000 after buying an additional 50 shares during the last quarter. Finally, Parametrica Management Ltd purchased a new stake in shares of Southwest Gas Corp. during the second quarter valued at about $776,000. Hedge funds and other institutional investors own 80.16% of the company’s stock.
Shares of Southwest Gas Corp. (NYSE:SWX) traded down 0.36% during trading on Friday, hitting $66.77. The stock had a trading volume of 185,549 shares. The stock’s 50-day moving average price is $69.55 and its 200 day moving average price is $70.92. The firm has a market capitalization of $3.17 billion, a P/E ratio of 21.81 and a beta of 0.54. Southwest Gas Corp. has a 1-year low of $50.53 and a 1-year high of $79.58.
Southwest Gas Corp. (NYSE:SWX) last issued its earnings results on Monday, August 8th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. Southwest Gas Corp. had a return on equity of 9.07% and a net margin of 5.90%. The business had revenue of $547.70 million for the quarter, compared to the consensus estimate of $559.21 million. During the same period last year, the business posted $0.13 EPS. The company’s revenue was up 1.7% compared to the same quarter last year. On average, analysts anticipate that Southwest Gas Corp. will post $3.17 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be paid a dividend of $0.45 per share. The ex-dividend date is Thursday, November 10th. This represents a $1.80 annualized dividend and a yield of 2.70%. Southwest Gas Corp.’s dividend payout ratio is 59.02%.
Several brokerages have issued reports on SWX. Zacks Investment Research lowered Southwest Gas Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, September 13th. Jefferies Group upgraded Southwest Gas Corp. from an “underperform” rating to a “hold” rating and set a $65.00 target price on the stock in a research note on Thursday. Argus restated a “hold” rating on shares of Southwest Gas Corp. in a research note on Thursday, September 8th. Finally, Citigroup Inc. boosted their target price on Southwest Gas Corp. from $62.00 to $79.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Five research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and a consensus price target of $71.50.
In other Southwest Gas Corp. news, SVP Eric Debonis sold 600 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $72.99, for a total transaction of $43,794.00. Following the sale, the senior vice president now directly owns 19,694 shares in the company, valued at approximately $1,437,465.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Roy R. Centrella sold 1,000 shares of the stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $71.54, for a total value of $71,540.00. Following the sale, the chief financial officer now owns 31,618 shares in the company, valued at $2,261,951.72. The disclosure for this sale can be found here. Company insiders own 1.34% of the company’s stock.
About Southwest Gas Corp.
Southwest Gas Corporation is engaged in the business of purchasing, distributing and transporting natural gas in Arizona, Nevada and California. 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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