William Blair Investment Management LLC acquired a new stake in shares of Southwest Gas Holdings Inc (NYSE:SWX) during the fourth quarter, Holdings Channel reports. The firm acquired 393,038 shares of the utilities provider’s stock, valued at approximately $31,632,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. First Republic Investment Management Inc. bought a new stake in Southwest Gas in the fourth quarter worth about $203,000. Advisor Group Inc. raised its position in Southwest Gas by 61.5% in the fourth quarter. Advisor Group Inc. now owns 2,545 shares of the utilities provider’s stock worth $205,000 after acquiring an additional 969 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Southwest Gas by 37.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,621 shares of the utilities provider’s stock worth $211,000 after acquiring an additional 718 shares in the last quarter. LPL Financial LLC bought a new stake in Southwest Gas in the fourth quarter worth about $214,000. Finally, Zeke Capital Advisors LLC bought a new stake in Southwest Gas in the fourth quarter worth about $232,000. Institutional investors and hedge funds own 80.14% of the company’s stock.
Shares of Southwest Gas stock opened at $66.20 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.81 and a quick ratio of 0.81. Southwest Gas Holdings Inc has a 1 year low of $62.53 and a 1 year high of $86.87. The company has a market cap of $3,188.13, a PE ratio of 18.34 and a beta of 0.57.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Tuesday, May 15th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.14%. The ex-dividend date is Monday, May 14th. This is an increase from Southwest Gas’s previous quarterly dividend of $0.50. Southwest Gas’s payout ratio is presently 49.13%.
SWX has been the topic of several research reports. UBS upgraded shares of Southwest Gas from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Tuesday, December 19th. Zacks Investment Research upgraded shares of Southwest Gas from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $81.50.
In other Southwest Gas news, SVP Eric Debonis sold 1,400 shares of the business’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $63.43, for a total transaction of $88,802.00. Following the sale, the senior vice president now owns 14,229 shares in the company, valued at approximately $902,545.47. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.99% of the stock is currently owned by insiders.
COPYRIGHT VIOLATION NOTICE: “William Blair Investment Management LLC Acquires Shares of 393,038 Southwest Gas Holdings Inc (SWX)” was published by Ticker Report and is the property of of Ticker Report. If you are accessing this report on another domain, it was copied illegally and republished in violation of U.S. & international trademark & copyright laws. The correct version of this report can be read at https://www.tickerreport.com/banking-finance/3299937/william-blair-investment-management-llc-acquires-shares-of-393038-southwest-gas-holdings-inc-swx.html.
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.
Want to see what other hedge funds are holding SWX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southwest Gas Holdings Inc (NYSE:SWX).
Receive News & Ratings for Southwest Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Gas and related companies with MarketBeat.com's FREE daily email newsletter.