Citigroup Inc. trimmed its position in Southwest Gas Corporation (NYSE:SWX) by 17.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,889 shares of the utilities provider’s stock after selling 1,680 shares during the period. Citigroup Inc.’s holdings in Southwest Gas Corporation were worth $576,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Southwest Gas Corporation by 7.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,725 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 118 shares in the last quarter. Riverhead Capital Management LLC lifted its holdings in Southwest Gas Corporation by 74.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,797 shares of the utilities provider’s stock valued at $204,000 after purchasing an additional 1,197 shares in the last quarter. GW&K Investment Management LLC purchased a new position in Southwest Gas Corporation in the 2nd quarter valued at about $205,000. Campbell & CO Investment Adviser LLC purchased a new position in Southwest Gas Corporation in the 2nd quarter valued at about $213,000. Finally, World Asset Management Inc lifted its holdings in Southwest Gas Corporation by 1.5% in the 2nd quarter. World Asset Management Inc now owns 2,985 shares of the utilities provider’s stock valued at $218,000 after purchasing an additional 44 shares in the last quarter. Institutional investors own 76.80% of the company’s stock.
A number of research firms have issued reports on SWX. BidaskClub lowered shares of Southwest Gas Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 27th. Zacks Investment Research upgraded shares of Southwest Gas Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Jefferies Group LLC restated a “hold” rating and issued a $70.00 target price on shares of Southwest Gas Corporation in a report on Thursday, August 31st. Finally, KeyCorp restated a “hold” rating on shares of Southwest Gas Corporation in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $78.00.
In other Southwest Gas Corporation news, VP Kenneth J. Kenny sold 600 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 17,137 shares in the company, valued at approximately $1,386,383.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Karen S. Haller sold 1,300 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $80.95, for a total value of $105,235.00. Following the sale, the senior vice president now owns 26,639 shares of the company’s stock, valued at $2,156,427.05. The disclosure for this sale can be found here. Company insiders own 0.99% of the company’s stock.
Southwest Gas Corporation (SWX) opened at 80.54 on Friday. The firm has a 50-day moving average of $79.09 and a 200-day moving average of $79.62. Southwest Gas Corporation has a 12-month low of $66.55 and a 12-month high of $86.65. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 24.93 and a beta of 0.60.
Southwest Gas Corporation (NYSE:SWX) last released its quarterly earnings results on Monday, August 7th. The utilities provider reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.09. Southwest Gas Corporation had a return on equity of 9.09% and a net margin of 6.46%. The business had revenue of $560.50 million during the quarter, compared to analyst estimates of $564.84 million. During the same quarter last year, the company posted $0.19 EPS. Southwest Gas Corporation’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts forecast that Southwest Gas Corporation will post $3.44 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.495 per share. The ex-dividend date is Tuesday, November 14th. This represents a $1.98 dividend on an annualized basis and a yield of 2.46%. Southwest Gas Corporation’s payout ratio is presently 61.11%.
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).
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