Great West Life Assurance Co. Can boosted its stake in shares of Southwest Gas Corporation (NYSE:SWX) by 3.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,975 shares of the utilities provider’s stock after buying an additional 1,053 shares during the period. Great West Life Assurance Co. Can owned approximately 0.06% of Southwest Gas Corporation worth $2,319,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Flinton Capital Management LLC bought a new stake in shares of Southwest Gas Corporation during the fourth quarter worth about $114,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Southwest Gas Corporation by 6.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,575 shares of the utilities provider’s stock worth $120,000 after buying an additional 98 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of Southwest Gas Corporation by 580.6% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,110 shares of the utilities provider’s stock valued at $147,000 after buying an additional 1,800 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Southwest Gas Corporation by 17.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,350 shares of the utilities provider’s stock valued at $180,000 after buying an additional 352 shares during the period. Finally, First Republic Investment Management Inc. acquired a new position in shares of Southwest Gas Corporation during the fourth quarter valued at $203,000. 77.87% of the stock is currently owned by hedge funds and other institutional investors.

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

Southwest Gas Corporation (NYSE SWX) traded up 0.16% during mid-day trading on Friday, hitting $73.88. The company had a trading volume of 12,472 shares. Southwest Gas Corporation has a 52-week low of $64.26 and a 52-week high of $86.65. The company has a 50-day moving average price of $79.13 and a 200 day moving average price of $80.48. The company has a market capitalization of $3.51 billion, a P/E ratio of 24.21 and a beta of 0.58.

Southwest Gas Corporation (NYSE:SWX) last issued its earnings results on Monday, May 8th. The utilities provider reported $1.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.63 by $0.18. Southwest Gas Corporation had a return on equity of 8.65% and a net margin of 6.12%. The company had revenue of $654.74 million during the quarter, compared to analysts’ expectations of $741.80 million. During the same period in the previous year, the company earned $1.58 EPS. Southwest Gas Corporation’s quarterly revenue was down 10.5% on a year-over-year basis. On average, analysts forecast that Southwest Gas Corporation will post $3.38 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be given a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, August 11th. Southwest Gas Corporation’s payout ratio is 64.71%.

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A number of equities research analysts have commented on SWX shares. Zacks Investment Research cut shares of Southwest Gas Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, March 23rd. Jefferies Group LLC reissued a “sell” rating and issued a $68.00 target price on shares of Southwest Gas Corporation in a report on Tuesday, May 9th. Finally, Bank of America Corporation lowered shares of Southwest Gas Corporation from a “buy” rating to a “neutral” rating and set a $88.00 price objective for the company. in a research note on Monday, March 6th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $80.75.

In other news, SVP Eric Debonis sold 350 shares of the company’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $80.02, for a total value of $28,007.00. Following the completion of the sale, the senior vice president now owns 20,057 shares of the company’s stock, valued at $1,604,961.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.34% of the stock is owned by corporate insiders.

Southwest Gas Corporation Company Profile

Southwest Gas Holdings, Inc, formerly Southwest Gas Corporation, is engaged in the business of purchasing, distributing and transporting natural gas. 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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