Kenneth J. Kenny Sells 300 Shares of Southwest Gas Corp. (SWX) Stock
Southwest Gas Corp. (NYSE:SWX) VP Kenneth J. Kenny sold 300 shares of Southwest Gas Corp. stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $72.03, for a total transaction of $21,609.00. Following the transaction, the vice president now directly owns 16,107 shares in the company, valued at approximately $1,160,187.21. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Southwest Gas Corp. (NYSE:SWX) opened at 72.93 on Wednesday. The company has a market cap of $3.46 billion, a price-to-earnings ratio of 22.77 and a beta of 0.46. The firm has a 50-day moving average of $69.61 and a 200-day moving average of $71.77. Southwest Gas Corp. has a 52 week low of $50.53 and a 52 week high of $79.58.
Southwest Gas Corp. (NYSE:SWX) last released its earnings results on Monday, November 7th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The business earned $539.97 million during the quarter, compared to the consensus estimate of $528.36 million. Southwest Gas Corp. had a net margin of 6.11% and a return on equity of 9.26%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.03) EPS. Equities analysts forecast that Southwest Gas Corp. will post $3.16 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Wednesday, February 15th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.47%. Southwest Gas Corp.’s dividend payout ratio is presently 56.25%.
Several research firms recently weighed in on SWX. Jefferies Group lowered shares of Southwest Gas Corp. from a “hold” rating to an “underperform” rating and set a $64.00 price objective on the stock. in a research note on Monday, July 25th. Citigroup Inc. lifted their price objective on shares of Southwest Gas Corp. from $62.00 to $79.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Argus reissued a “hold” rating on shares of Southwest Gas Corp. in a research note on Thursday, September 8th. Finally, Zacks Investment Research raised shares of Southwest Gas Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 20th. Five analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average target price of $72.75.
A number of hedge funds have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. increased its stake in Southwest Gas Corp. by 67.1% in the third quarter. Ameritas Investment Partners Inc. now owns 18,575 shares of the company’s stock worth $1,298,000 after buying an additional 7,460 shares in the last quarter. Tributary Capital Management LLC increased its stake in Southwest Gas Corp. by 0.4% in the third quarter. Tributary Capital Management LLC now owns 25,500 shares of the company’s stock worth $1,781,000 after buying an additional 100 shares in the last quarter. Panagora Asset Management Inc. increased its stake in Southwest Gas Corp. by 217.6% in the third quarter. Panagora Asset Management Inc. now owns 36,569 shares of the company’s stock worth $2,555,000 after buying an additional 25,056 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Southwest Gas Corp. by 580.6% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,110 shares of the company’s stock worth $147,000 after buying an additional 1,800 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new stake in Southwest Gas Corp. during the third quarter worth $363,000. 80.56% of the stock is owned by institutional investors and hedge funds.
Southwest Gas Corp. Company Profile
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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