Victory Capital Management Inc. decreased its position in Southwest Gas Holdings Inc (NYSE:SWX) by 2.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 586,693 shares of the utilities provider’s stock after selling 15,981 shares during the period. Victory Capital Management Inc. owned about 1.19% of Southwest Gas worth $46,366,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SWX. Arizona State Retirement System boosted its stake in Southwest Gas by 3.9% in the 3rd quarter. Arizona State Retirement System now owns 34,888 shares of the utilities provider’s stock valued at $2,757,000 after purchasing an additional 1,316 shares during the period. Mesirow Financial Investment Management Equity Management bought a new stake in Southwest Gas in the 3rd quarter valued at $14,744,000. Congress Asset Management Co. MA boosted its stake in Southwest Gas by 10.2% in the 3rd quarter. Congress Asset Management Co. MA now owns 30,822 shares of the utilities provider’s stock valued at $2,436,000 after purchasing an additional 2,855 shares during the period. James Investment Research Inc. bought a new stake in shares of Southwest Gas during the 3rd quarter valued at $2,108,000. Finally, Retirement Systems of Alabama lifted its position in shares of Southwest Gas by 1.4% during the 3rd quarter. Retirement Systems of Alabama now owns 63,497 shares of the utilities provider’s stock valued at $5,018,000 after acquiring an additional 881 shares during the period. Hedge funds and other institutional investors own 83.56% of the company’s stock.

NYSE:SWX opened at $83.51 on Friday. The firm has a market cap of $4.06 billion, a PE ratio of 21.16, a P/E/G ratio of 5.51 and a beta of 0.39. 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 Holdings Inc has a fifty-two week low of $62.53 and a fifty-two week high of $86.87.

Southwest Gas (NYSE:SWX) last released its earnings results on Tuesday, November 6th. The utilities provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.11. The firm had revenue of $668.10 million during the quarter, compared to the consensus estimate of $224.00 million. Southwest Gas had a return on equity of 10.11% and a net margin of 7.39%. The company’s revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 EPS. On average, research analysts expect that Southwest Gas Holdings Inc will post 3.74 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 15th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.49%. Southwest Gas’s payout ratio is 57.46%.

In other news, VP Kenneth J. Kenny sold 500 shares of the company’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $82.67, for a total transaction of $41,335.00. Following the completion of the sale, the vice president now directly owns 15,509 shares in the company, valued at approximately $1,282,129.03. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.99% of the company’s stock.

A number of research firms have recently weighed in on SWX. ValuEngine upgraded Southwest Gas from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Bank of America downgraded Southwest Gas from a “neutral” rating to an “underperform” rating and cut their target price for the company from $76.00 to $74.00 in a research report on Monday, July 30th. Citigroup upped their target price on Southwest Gas from $73.00 to $80.00 and gave the company a “hold” rating in a research report on Wednesday, October 3rd. Finally, Zacks Investment Research downgraded Southwest Gas from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Southwest Gas currently has a consensus rating of “Hold” and an average target price of $78.17.

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Southwest Gas Company 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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