Cramer Rosenthal Mcglynn LLC Trims Holdings in Southwest Gas Corporation (SWX)
Cramer Rosenthal Mcglynn LLC trimmed its position in shares of Southwest Gas Corporation (NYSE:SWX) by 5.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 258,002 shares of the utilities provider’s stock after selling 13,543 shares during the period. Cramer Rosenthal Mcglynn LLC owned 0.54% of Southwest Gas Corporation worth $18,850,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Southwest Gas Corporation by 7.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,725 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 118 shares during the period. Riverhead Capital Management LLC grew its holdings in Southwest Gas Corporation by 74.8% during the second quarter. Riverhead Capital Management LLC now owns 2,797 shares of the utilities provider’s stock valued at $204,000 after purchasing an additional 1,197 shares during the period. GW&K Investment Management LLC bought a new position in Southwest Gas Corporation during the second quarter valued at $205,000. Campbell & CO Investment Adviser LLC bought a new position in Southwest Gas Corporation during the second quarter valued at $213,000. Finally, World Asset Management Inc grew its holdings in Southwest Gas Corporation by 1.5% during the second quarter. World Asset Management Inc now owns 2,985 shares of the utilities provider’s stock valued at $218,000 after purchasing an additional 44 shares during the period. 76.81% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Karen S. Haller sold 1,300 shares of the company’s stock in a transaction 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 in the company, valued at approximately $2,156,427.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kenneth J. Kenny sold 600 shares of the company’s stock in a transaction 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 owns 17,137 shares of the company’s stock, valued at $1,386,383.30. The disclosure for this sale can be found here. Corporate insiders own 0.99% of the company’s stock.
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Several equities analysts have weighed in on the company. BidaskClub raised Southwest Gas Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research raised Southwest Gas Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. KeyCorp reissued a “hold” rating on shares of Southwest Gas Corporation in a report on Friday, September 1st. Finally, Jefferies Group LLC reissued a “hold” rating and set a $70.00 price objective on shares of Southwest Gas Corporation in a report on Thursday, August 31st. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $78.00.
Southwest Gas Corporation (SWX) traded down 0.2055% during trading on Thursday, hitting $77.6601. The stock had a trading volume of 10,143 shares. The company has a market cap of $3.70 billion, a price-to-earnings ratio of 24.0434 and a beta of 0.60. 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 $79.77.
Southwest Gas Corporation (NYSE:SWX) last posted its quarterly earnings data on Monday, August 7th. The utilities provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.28 by $0.09. The firm had revenue of $560.50 million during 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%. Southwest Gas Corporation’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 EPS. Equities research analysts forecast that Southwest Gas Corporation will post $3.42 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a $0.495 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $1.98 annualized dividend and a dividend yield of 2.54%. Southwest Gas Corporation’s dividend payout ratio (DPR) is 61.11%.
About Southwest Gas Corporation
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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