Advantus Capital Management Inc increased its stake in Southwest Gas Holdings Inc (NYSE:SWX) by 3.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,088 shares of the utilities provider’s stock after buying an additional 187 shares during the period. Advantus Capital Management Inc’s holdings in Southwest Gas Holdings were worth $505,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. YorkBridge Wealth Partners LLC raised its position in shares of Southwest Gas Holdings by 14.4% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,268 shares of the utilities provider’s stock valued at $106,000 after buying an additional 160 shares during the last quarter. Flinton Capital Management LLC bought a new position in shares of Southwest Gas Holdings during the fourth quarter valued at $114,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Southwest Gas Holdings by 6.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,575 shares of the utilities provider’s stock valued at $120,000 after buying an additional 98 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Southwest Gas Holdings by 17.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,350 shares of the utilities provider’s stock valued at $180,000 after buying an additional 352 shares during the last quarter. Finally, First Republic Investment Management Inc. bought a new position in shares of Southwest Gas Holdings during the fourth quarter valued at $203,000. Institutional investors and hedge funds own 77.87% of the company’s stock.
Southwest Gas Holdings Inc (SWX) traded down 1.235% on Tuesday, reaching $75.545. 35,431 shares of the company traded hands. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 24.753 and a beta of 0.58. Southwest Gas Holdings Inc has a 52-week low of $64.26 and a 52-week high of $86.65. The firm has a 50 day moving average price of $79.37 and a 200 day moving average price of $80.47.
Southwest Gas Holdings (NYSE:SWX) last announced its quarterly earnings results on Monday, May 8th. The utilities provider reported $1.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.63 by $0.18. The firm had revenue of $654.74 million for the quarter, compared to analyst estimates of $741.80 million. Southwest Gas Holdings had a net margin of 10.54% and a return on equity of 16.45%. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.58 earnings per share. Equities research analysts predict that Southwest Gas Holdings Inc will post $3.38 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.495 per share. The ex-dividend date is Friday, August 11th. This represents a $1.98 annualized dividend and a dividend yield of 2.59%. Southwest Gas Holdings’s dividend payout ratio is 64.71%.
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SWX has been the topic of several research reports. Zacks Investment Research upgraded shares of Southwest Gas Holdings from a “sell” rating to a “hold” rating in a report on Saturday, April 22nd. Bank of America Corporation lowered shares of Southwest Gas Holdings from a “buy” rating to a “neutral” rating and set a $88.00 price target on the stock. in a report on Monday, March 6th. They noted that the move was a valuation call. Finally, Jefferies Group LLC restated a “sell” rating and issued a $68.00 price target on shares of Southwest Gas Holdings in a report on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and an average target price of $80.75.
In other news, SVP Eric Debonis sold 350 shares of Southwest Gas Holdings stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $80.02, for a total transaction of $28,007.00. Following the completion of the sale, the senior vice president now directly owns 20,057 shares in the company, valued at approximately $1,604,961.14. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.34% of the stock is owned by insiders.
About Southwest Gas Holdings
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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