Cramer Rosenthal Mcglynn LLC Has $19.91 Million Position in Southwest Gas Holdings Inc (NYSE:SWX)

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Cramer Rosenthal Mcglynn LLC reduced its holdings in Southwest Gas Holdings Inc (NYSE:SWX) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 222,122 shares of the utilities provider’s stock after selling 5,219 shares during the period. Cramer Rosenthal Mcglynn LLC owned 0.41% of Southwest Gas worth $19,907,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SWX. TCI Wealth Advisors Inc. increased its stake in Southwest Gas by 39.4% in the 2nd 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. Hanson McClain Inc. increased its stake in Southwest Gas by 173.5% in the 1st 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. NEXT Financial Group Inc acquired a new stake in Southwest Gas in the 2nd quarter valued at $47,000. Krane Funds Advisors LLC acquired a new stake in Southwest Gas in the 2nd quarter valued at $60,000. Finally, Tower Research Capital LLC TRC increased its stake in Southwest Gas by 6,708.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 817 shares of the utilities provider’s stock valued at $73,000 after buying an additional 805 shares during the last quarter. Hedge funds and other institutional investors own 83.16% of the company’s stock.

Shares of SWX stock traded up $0.35 during midday trading on Friday, hitting $92.19. 778 shares of the company were exchanged, compared to its average volume of 207,448. The firm has a market capitalization of $4.88 billion, a P/E ratio of 25.08, a PEG ratio of 3.71 and a beta of 0.30. 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 firm’s 50 day moving average price is $89.40 and its two-hundred day moving average price is $86.35. Southwest Gas Holdings Inc has a 52 week low of $72.68 and a 52 week high of $92.31.

Southwest Gas (NYSE:SWX) last announced its earnings results on Tuesday, August 6th. The utilities provider reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). The company had revenue of $713.01 million for the quarter, compared to the consensus estimate of $289.70 million. Southwest Gas had a return on equity of 8.86% and a net margin of 6.61%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 EPS. Analysts expect that Southwest Gas Holdings Inc will post 3.92 EPS for the current year.

SWX has been the topic of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Southwest Gas in a research note on Wednesday, July 17th. They set an “overweight” rating and a $93.00 price objective on the stock. Williams Capital upgraded shares of Southwest Gas from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $81.00 to $96.00 in a research note on Tuesday, June 18th. UBS Group set a $91.00 price objective on shares of Southwest Gas and gave the stock a “hold” rating in a research note on Friday, July 19th. ValuEngine lowered shares of Southwest Gas from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research lowered shares of Southwest Gas from a “buy” rating to a “hold” rating in a research note on Saturday, August 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $89.86.

In related news, VP Kenneth J. Kenny sold 500 shares of Southwest Gas stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $90.26, for a total transaction of $45,130.00. Following the completion of the sale, the vice president now owns 16,121 shares of the company’s stock, valued at approximately $1,455,081.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John P. Hester sold 2,000 shares of Southwest Gas stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $90.60, for a total transaction of $181,200.00. Following the sale, the chief executive officer now directly owns 62,694 shares of the company’s stock, valued at approximately $5,680,076.40. The disclosure for this sale can be found here. Insiders own 0.83% of the company’s stock.

Southwest Gas Profile

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

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