New York State Common Retirement Fund Grows Stake in Southwest Gas Corporation (SWX)

New York State Common Retirement Fund grew its holdings in Southwest Gas Corporation (NYSE:SWX) by 97.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,677 shares of the utilities provider’s stock after purchasing an additional 49,576 shares during the quarter. New York State Common Retirement Fund owned approximately 0.21% of Southwest Gas Corporation worth $7,355,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Southwest Gas Corporation by 5,500.3% in the first quarter. BlackRock Inc. now owns 5,796,013 shares of the utilities provider’s stock valued at $480,546,000 after purchasing an additional 5,692,518 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Southwest Gas Corporation by 19.0% in the first quarter. Vanguard Group Inc. now owns 5,332,229 shares of the utilities provider’s stock valued at $442,095,000 after purchasing an additional 849,583 shares during the last quarter. State Street Corp grew its position in shares of Southwest Gas Corporation by 0.6% in the first quarter. State Street Corp now owns 1,597,272 shares of the utilities provider’s stock valued at $132,435,000 after purchasing an additional 9,239 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Southwest Gas Corporation by 12.7% in the second quarter. JPMorgan Chase & Co. now owns 819,202 shares of the utilities provider’s stock valued at $64,808,000 after purchasing an additional 92,559 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Southwest Gas Corporation by 2.7% in the second quarter. Ameriprise Financial Inc. now owns 751,284 shares of the utilities provider’s stock valued at $54,889,000 after purchasing an additional 19,466 shares during the last quarter. Institutional investors and hedge funds own 76.80% of the company’s stock.

Shares of Southwest Gas Corporation (NYSE SWX) opened at 79.89 on Thursday. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 24.73 and a beta of 0.60. Southwest Gas Corporation has a 52-week low of $66.10 and a 52-week high of $86.65. The stock has a 50 day moving average of $79.06 and a 200 day moving average of $79.62.

Southwest Gas Corporation (NYSE:SWX) last announced its quarterly earnings data on Monday, August 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.09. The company had revenue of $560.50 million for the quarter, compared to analysts’ expectations of $564.84 million. Southwest Gas Corporation had a net margin of 6.46% and a return on equity of 9.09%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS. On average, analysts predict that Southwest Gas Corporation will post $3.42 EPS for the current fiscal year.

The firm 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 2.48%. Southwest Gas Corporation’s dividend payout ratio is currently 61.11%.

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In other news, SVP Karen S. Haller sold 1,300 shares of Southwest Gas Corporation stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $80.95, for a total value of $105,235.00. Following the transaction, the senior vice president now owns 26,639 shares of the company’s stock, valued at approximately $2,156,427.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kenneth J. Kenny sold 600 shares of Southwest Gas Corporation stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $80.90, for a total transaction of $48,540.00. Following the completion of the transaction, the vice president now directly owns 17,137 shares in the company, valued at approximately $1,386,383.30. The disclosure for this sale can be found here. Insiders own 0.99% of the company’s stock.

Several analysts have recently commented on SWX shares. Jefferies Group LLC upgraded shares of Southwest Gas Corporation from an “underperform” rating to a “hold” rating and increased their price target for the company from $68.00 to $70.00 in a research report on Wednesday, July 12th. BidaskClub lowered shares of Southwest Gas Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. KeyCorp reiterated a “hold” rating on shares of Southwest Gas Corporation in a research report on Friday, September 1st. Finally, Zacks Investment Research upgraded shares of Southwest Gas Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $78.00.

Southwest Gas Corporation Company Profile

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).

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

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