Southwest Gas Corp. (SWX) VP Sells $43,320.00 in Stock
Southwest Gas Corp. (NYSE:SWX) VP Kenneth J. Kenny sold 600 shares of the firm’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $72.20, for a total value of $43,320.00. Following the transaction, the vice president now directly owns 17,363 shares in the company, valued at $1,253,608.60. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Southwest Gas Corp. (NYSE:SWX) opened at 72.58 on Thursday. The firm has a market cap of $3.45 billion, a PE ratio of 22.66 and a beta of 0.46. The firm’s 50-day moving average price is $69.61 and its 200-day moving average price is $72.00. Southwest Gas Corp. has a 12 month low of $50.53 and a 12 month high of $79.58.
Southwest Gas Corp. (NYSE:SWX) last posted its quarterly earnings data on Monday, November 7th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Southwest Gas Corp. had a return on equity of 9.26% and a net margin of 6.11%. The business had revenue of $539.97 million for the quarter, compared to analyst estimates of $528.36 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. Analysts expect that Southwest Gas Corp. will post $3.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Stockholders 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 dividend yield of 2.48%. The ex-dividend date of this dividend is Monday, February 13th. Southwest Gas Corp.’s dividend payout ratio is currently 56.25%.
Several hedge funds have recently bought and sold shares of the company. Advisor Group Inc. bought a new stake in Southwest Gas Corp. during the second quarter worth $106,000. Fuller & Thaler Asset Management Inc. raised 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. O Shaughnessy Asset Management LLC bought a new stake in Southwest Gas Corp. during the second quarter worth $190,000. Neuberger Berman Group LLC bought a new stake in Southwest Gas Corp. during the third quarter worth $211,000. Finally, LS Investment Advisors LLC raised its stake in Southwest Gas Corp. by 7.0% in the third quarter. LS Investment Advisors LLC now owns 3,031 shares of the company’s stock worth $212,000 after buying an additional 198 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.
SWX has been the topic of a number of research reports. Argus reissued a “hold” rating on shares of Southwest Gas Corp. in a report on Thursday, September 8th. Zacks Investment Research raised Southwest Gas Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 20th. Jefferies Group raised Southwest Gas Corp. from an “underperform” rating to a “hold” rating and set a $65.00 price target on the stock in a research note on Thursday, October 13th. Finally, Citigroup Inc. lifted their price target on Southwest Gas Corp. from $62.00 to $79.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Five analysts have rated the stock with a hold rating, Southwest Gas Corp. presently has a consensus rating of “Hold” and a consensus price target of $72.75.
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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