Gregory J. Peterson Sells 600 Shares of Southwest Gas Corp. (SWX) Stock
Southwest Gas Corp. (NYSE:SWX) VP Gregory J. Peterson sold 600 shares of Southwest Gas Corp. stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $75.19, for a total value of $45,114.00. Following the completion of the transaction, the vice president now directly owns 14,246 shares of the company’s stock, valued at $1,071,156.74. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Southwest Gas Corp. (NYSE:SWX) opened at 73.95 on Friday. Southwest Gas Corp. has a 52 week low of $50.53 and a 52 week high of $79.58. The firm has a market capitalization of $3.51 billion, a P/E ratio of 23.09 and a beta of 0.46. The stock has a 50 day moving average price of $70.23 and a 200 day moving average price of $72.25.
Southwest Gas Corp. (NYSE:SWX) last announced its earnings results on Monday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. Southwest Gas Corp. had a net margin of 6.11% and a return on equity of 9.26%. The company earned $539.97 million during the quarter, compared to analyst estimates of $528.36 million. During the same period in the previous year, the business earned ($0.03) earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Analysts forecast that Southwest Gas Corp. will post $3.16 EPS for the current year.
The firm also recently declared 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. The ex-dividend date is Monday, February 13th. This represents a $1.80 annualized dividend and a yield of 2.43%. Southwest Gas Corp.’s payout ratio is 56.25%.
A number of hedge funds have recently bought and sold shares of SWX. Advisor Group Inc. acquired a new stake in Southwest Gas Corp. during the second quarter valued at about $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 valued at $147,000 after buying an additional 1,800 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in Southwest Gas Corp. during the second quarter valued at about $190,000. Neuberger Berman Group LLC acquired a new stake in Southwest Gas Corp. during the third quarter valued at about $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 valued at $212,000 after buying an additional 198 shares during the last quarter. Institutional investors and hedge funds own 80.04% of the company’s stock.
SWX has been the subject of several research analyst reports. Zacks Investment Research raised Southwest Gas Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, September 20th. Jefferies Group raised Southwest Gas Corp. from an “underperform” rating to a “hold” rating and set a $65.00 price objective for the company in a research report on Thursday, October 13th. Finally, Argus reissued a “hold” rating on shares of Southwest Gas Corp. in a research report on Thursday, September 8th. Five equities research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average target price of $72.75.
About Southwest Gas Corp.
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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