Dupont Capital Management Corp Trims Stake in Southwest Gas Holdings Inc (NYSE:SWX)
Dupont Capital Management Corp reduced its holdings in shares of Southwest Gas Holdings Inc (NYSE:SWX) by 16.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,009 shares of the utilities provider’s stock after selling 1,962 shares during the period. Dupont Capital Management Corp’s holdings in Southwest Gas were worth $691,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Sunbelt Securities Inc. purchased a new stake in shares of Southwest Gas in the fourth quarter worth $2,934,000. Ellevest Inc. increased its stake in shares of Southwest Gas by 47.7% in the first quarter. Ellevest Inc. now owns 629 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 203 shares in the last quarter. Brinker Capital Inc. increased its stake in shares of Southwest Gas by 5.2% in the first quarter. Brinker Capital Inc. now owns 4,350 shares of the utilities provider’s stock worth $303,000 after purchasing an additional 215 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Southwest Gas by 2.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 13,077 shares of the utilities provider’s stock worth $909,000 after purchasing an additional 284 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Southwest Gas by 1.1% in the second quarter. Envestnet Asset Management Inc. now owns 31,885 shares of the utilities provider’s stock worth $2,202,000 after purchasing an additional 332 shares in the last quarter. 85.65% of the stock is owned by institutional investors and hedge funds.
In other Southwest Gas news, SVP Eric Debonis sold 400 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $75.10, for a total transaction of $30,040.00. Following the completion of the transaction, the senior vice president now owns 12,964 shares in the company, valued at $973,596.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is owned by company insiders.
Southwest Gas (NYSE:SWX) last released its quarterly earnings data on Thursday, May 7th. The utilities provider reported $1.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.22). Southwest Gas had a net margin of 6.14% and a return on equity of 8.37%. The business had revenue of $836.32 million for the quarter, compared to the consensus estimate of $538.75 million. During the same quarter last year, the business earned $1.77 EPS. Southwest Gas’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities research analysts forecast that Southwest Gas Holdings Inc will post 3.83 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be given a dividend of $0.57 per share. The ex-dividend date is Friday, August 14th. This represents a $2.28 annualized dividend and a yield of 3.27%. Southwest Gas’s dividend payout ratio (DPR) is currently 57.87%.
A number of brokerages have recently issued reports on SWX. Jefferies Financial Group reduced their price objective on shares of Southwest Gas from $72.00 to $69.00 and set a “hold” rating for the company in a research note on Friday, July 24th. JPMorgan Chase & Co. cut their target price on shares of Southwest Gas from $85.00 to $81.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Zacks Investment Research cut shares of Southwest Gas from a “buy” rating to a “hold” rating in a research note on Thursday. Citigroup cut their target price on shares of Southwest Gas from $90.00 to $87.00 and set a “neutral” rating for the company in a research note on Tuesday, April 28th. Finally, Wells Fargo & Co raised their target price on shares of Southwest Gas from $73.00 to $75.00 and gave the company an “underweight” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $77.83.
About Southwest Gas
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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