State of Tennessee Treasury Department decreased its position in shares of Southwest Gas Holdings Inc (NYSE:SWX) by 11.5% during the first quarter, Holdings Channel reports. The institutional investor owned 40,000 shares of the utilities provider’s stock after selling 5,179 shares during the period. State of Tennessee Treasury Department’s holdings in Southwest Gas were worth $2,782,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SWX. Janus Henderson Group PLC purchased a new stake in Southwest Gas in the 1st quarter worth $96,128,000. Macquarie Group Ltd. lifted its stake in Southwest Gas by 48.3% in the 4th quarter. Macquarie Group Ltd. now owns 2,885,520 shares of the utilities provider’s stock worth $219,213,000 after purchasing an additional 939,784 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in Southwest Gas by 214,104.2% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 664,033 shares of the utilities provider’s stock worth $46,190,000 after purchasing an additional 663,723 shares in the last quarter. Invesco Ltd. lifted its stake in Southwest Gas by 55.5% in the 1st quarter. Invesco Ltd. now owns 1,468,185 shares of the utilities provider’s stock worth $102,128,000 after purchasing an additional 523,846 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Southwest Gas in the 4th quarter worth about $39,148,000. Institutional investors and hedge funds own 85.41% of the company’s stock.

Shares of NYSE:SWX opened at $67.52 on Tuesday. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 2.90 and a beta of 0.28. Southwest Gas Holdings Inc has a 12 month low of $45.68 and a 12 month high of $92.94. The firm’s 50-day moving average is $71.29 and its 200 day moving average is $72.89. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.91.

Southwest Gas (NYSE:SWX) last issued its quarterly earnings results on Thursday, May 7th. The utilities provider reported $1.31 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.22). The firm had revenue of $836.32 million for the quarter, compared to the consensus estimate of $538.75 million. Southwest Gas had a net margin of 6.14% and a return on equity of 8.37%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.77 earnings per share. As a group, equities analysts forecast that Southwest Gas Holdings Inc will post 3.77 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.28 dividend on an annualized basis and a yield of 3.38%. Southwest Gas’s dividend payout ratio is currently 57.87%.

A number of analysts have recently weighed in on SWX shares. Citigroup reduced their target price on shares of Southwest Gas from $90.00 to $87.00 and set a “neutral” rating on the stock in a report on Tuesday, April 28th. Zacks Investment Research downgraded shares of Southwest Gas from a “buy” rating to a “hold” rating in a report on Friday, May 22nd. JPMorgan Chase & Co. reduced their target price on shares of Southwest Gas from $85.00 to $81.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Wells Fargo & Co upped their price target on shares of Southwest Gas from $73.00 to $75.00 and gave the company an “underweight” rating in a report on Monday, May 11th. Finally, Jefferies Financial Group downgraded shares of Southwest Gas from a “buy” rating to a “hold” rating and set a $72.00 price target on the stock. in a report on Friday, April 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $78.33.

In other Southwest Gas news, SVP Eric Debonis sold 400 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $75.10, for a total value of $30,040.00. Following the transaction, the senior vice president now directly owns 12,964 shares in the company, valued at approximately $973,596.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.75% of the stock is owned by corporate insiders.

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 two segments, Natural Gas Operations and Utility Infrastructure Services. As of December 31, 2018, it had 2,047,000 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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