Raymond James Financial Services Advisors Inc. trimmed its position in shares of Southwest Gas Holdings Inc (NYSE:SWX) by 19.7% in the 2nd quarter, Holdings Channel reports. The fund owned 9,411 shares of the utilities provider’s stock after selling 2,306 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Southwest Gas were worth $718,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Thrivent Financial for Lutherans raised its stake in Southwest Gas by 0.4% in the first quarter. Thrivent Financial for Lutherans now owns 163,190 shares of the utilities provider’s stock worth $11,037,000 after buying an additional 693 shares in the last quarter. First Mercantile Trust Co. raised its stake in Southwest Gas by 51.9% in the second quarter. First Mercantile Trust Co. now owns 2,050 shares of the utilities provider’s stock worth $156,000 after buying an additional 700 shares in the last quarter. Stifel Financial Corp increased its stake in shares of Southwest Gas by 15.4% during the first quarter. Stifel Financial Corp now owns 5,898 shares of the utilities provider’s stock valued at $403,000 after purchasing an additional 786 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Southwest Gas by 15.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,672 shares of the utilities provider’s stock valued at $509,000 after purchasing an additional 914 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. increased its stake in shares of Southwest Gas by 13.0% during the first quarter. Cornercap Investment Counsel Inc. now owns 9,850 shares of the utilities provider’s stock valued at $666,000 after purchasing an additional 1,130 shares in the last quarter. 83.29% of the stock is owned by hedge funds and other institutional investors.

In other Southwest Gas news, SVP Eric Debonis sold 650 shares of the firm’s stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $73.07, for a total transaction of $47,495.50. Following the completion of the transaction, the senior vice president now owns 12,979 shares of the company’s stock, valued at $948,375.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

Shares of NYSE SWX opened at $76.65 on Wednesday. Southwest Gas Holdings Inc has a fifty-two week low of $62.53 and a fifty-two week high of $86.87. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 5.28 and a beta of 0.50. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.05.

Southwest Gas (NYSE:SWX) last announced its earnings results on Tuesday, August 7th. The utilities provider reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.11. Southwest Gas had a net margin of 7.51% and a return on equity of 10.22%. The business had revenue of $670.88 million during the quarter, compared to the consensus estimate of $611.60 million. sell-side analysts anticipate that Southwest Gas Holdings Inc will post 3.71 EPS for the current year.

A number of equities analysts have weighed in on the stock. Bank of America downgraded shares of Southwest Gas from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $76.00 to $74.00 in a research note on Monday, July 30th. Zacks Investment Research raised shares of Southwest Gas from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Wednesday, May 30th. Finally, ValuEngine raised shares of Southwest Gas from a “sell” rating to a “hold” rating in a research note on Tuesday, May 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Southwest Gas has an average rating of “Hold” and a consensus price target of $76.67.

Southwest Gas Profile

Southwest Gas Holdings, Inc, through its subsidiaries, purchases, distributes, and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Operations and Construction Services segments. As of December 31, 2017, it had 2,015,000 residential, commercial, industrial, and other natural gas customers.

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

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