Northern Trust Corp lifted its stake in shares of Southwest Gas Corporation (NYSE:SWX) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,444,315 shares of the utilities provider’s stock after purchasing an additional 26,071 shares during the period. Northern Trust Corp owned about 3.04% of Southwest Gas Corporation worth $105,521,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Southwest Gas Corporation by 5,500.3% during the first quarter. BlackRock Inc. now owns 5,796,013 shares of the utilities provider’s stock worth $480,546,000 after purchasing an additional 5,692,518 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Southwest Gas Corporation by 19.0% during the first quarter. Vanguard Group Inc. now owns 5,332,229 shares of the utilities provider’s stock worth $442,095,000 after purchasing an additional 849,583 shares in the last quarter. State Street Corp increased its stake in shares of Southwest Gas Corporation by 0.6% during the first quarter. State Street Corp now owns 1,597,272 shares of the utilities provider’s stock worth $132,435,000 after purchasing an additional 9,239 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Southwest Gas Corporation by 12.7% during the second quarter. JPMorgan Chase & Co. now owns 819,202 shares of the utilities provider’s stock worth $64,808,000 after purchasing an additional 92,559 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Southwest Gas Corporation by 2.7% during the second quarter. Ameriprise Financial Inc. now owns 751,284 shares of the utilities provider’s stock worth $54,889,000 after purchasing an additional 19,466 shares in the last quarter. 76.81% of the stock is owned by institutional investors and hedge funds.

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A number of analysts have recently commented on the stock. KeyCorp reissued a “hold” rating on shares of Southwest Gas Corporation in a research note on Friday, September 1st. Jefferies Group LLC reissued a “hold” rating and set a $70.00 target price on shares of Southwest Gas Corporation in a research note on Thursday, August 31st. BidaskClub cut shares of Southwest Gas Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Finally, Zacks Investment Research raised shares of Southwest Gas Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and an average price target of $80.50.

Southwest Gas Corporation (NYSE:SWX) opened at 78.39 on Thursday. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 24.27 and a beta of 0.62. Southwest Gas Corporation has a 52-week low of $64.26 and a 52-week high of $86.65. The company’s 50-day moving average is $80.01 and its 200-day moving average is $80.13.

Southwest Gas Corporation (NYSE:SWX) last announced its quarterly earnings results on Monday, August 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.09. The business had revenue of $560.50 million for the quarter, compared to analyst estimates of $564.84 million. Southwest Gas Corporation had a return on equity of 9.09% and a net margin of 6.46%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 earnings per share. Equities analysts predict that Southwest Gas Corporation will post $3.43 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be issued a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 2.54%. Southwest Gas Corporation’s payout ratio is currently 61.11%.

In other news, SVP Karen S. Haller sold 1,300 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $80.95, for a total value of $105,235.00. Following the completion of the sale, the senior vice president now directly owns 26,639 shares of the company’s stock, valued at $2,156,427.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Kenneth J. Kenny sold 600 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $80.90, for a total value of $48,540.00. Following the completion of the sale, the vice president now directly owns 17,137 shares of the company’s stock, valued at $1,386,383.30. The disclosure for this sale can be found here. 0.99% of the stock is currently owned by corporate insiders.

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

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