Southwest Gas Holdings Inc (SWX) Holdings Trimmed by Metropolitan Life Insurance Co. NY

Metropolitan Life Insurance Co. NY reduced its holdings in shares of Southwest Gas Holdings Inc (NYSE:SWX) by 63.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 27,084 shares of the utilities provider’s stock after selling 47,864 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Southwest Gas were worth $2,180,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SWX. First Republic Investment Management Inc. acquired a new stake in shares of Southwest Gas in the 4th quarter valued at about $203,000. Advisor Group Inc. grew its stake in shares of Southwest Gas by 61.5% in the 4th quarter. Advisor Group Inc. now owns 2,545 shares of the utilities provider’s stock valued at $205,000 after buying an additional 969 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Southwest Gas by 37.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,621 shares of the utilities provider’s stock valued at $211,000 after buying an additional 718 shares during the period. LPL Financial LLC acquired a new stake in shares of Southwest Gas in the 4th quarter valued at about $214,000. Finally, Zeke Capital Advisors LLC acquired a new stake in shares of Southwest Gas in the 4th quarter valued at about $232,000. Hedge funds and other institutional investors own 80.14% of the company’s stock.

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In related news, SVP Eric Debonis sold 1,400 shares of the firm’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $63.43, for a total value of $88,802.00. Following the transaction, the senior vice president now owns 14,229 shares of the company’s stock, valued at approximately $902,545.47. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.99% of the stock is currently owned by company insiders.

SWX has been the subject of several research reports. UBS upgraded Southwest Gas from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Tuesday, December 19th. Zacks Investment Research upgraded Southwest Gas from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Friday, January 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $81.50.

Shares of Southwest Gas Holdings Inc (NYSE:SWX) opened at $66.20 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $3,188.13, a PE ratio of 16.43 and a beta of 0.57. Southwest Gas Holdings Inc has a 12 month low of $62.53 and a 12 month high of $86.87.

Southwest Gas (NYSE:SWX) last issued its earnings results on Tuesday, February 27th. The utilities provider reported $1.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.08. The company had revenue of $740.43 million during the quarter, compared to the consensus estimate of $705.70 million. Southwest Gas had a return on equity of 10.00% and a net margin of 7.61%. analysts anticipate that Southwest Gas Holdings Inc will post 3.59 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Tuesday, May 15th will be given a $0.52 dividend. This is a boost from Southwest Gas’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, May 14th. This represents a $2.08 annualized dividend and a yield of 3.14%. Southwest Gas’s dividend payout ratio (DPR) is presently 49.13%.

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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 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.

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Institutional Ownership by Quarter for Southwest Gas (NYSE:SWX)

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