Russell Investments Group Ltd. Sells 165,383 Shares of Southwest Gas Corporation (SWX)

Russell Investments Group Ltd. cut its holdings in Southwest Gas Corporation (NYSE:SWX) by 62.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 101,302 shares of the utilities provider’s stock after selling 165,383 shares during the quarter. Russell Investments Group Ltd. owned 0.21% of Southwest Gas worth $7,860,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Southwest Gas by 7.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,725 shares of the utilities provider’s stock worth $126,000 after buying an additional 118 shares during the period. Flinton Capital Management LLC raised its holdings in shares of Southwest Gas by 69.7% in the second quarter. Flinton Capital Management LLC now owns 2,416 shares of the utilities provider’s stock valued at $177,000 after acquiring an additional 992 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in shares of Southwest Gas by 74.8% in the second quarter. Riverhead Capital Management LLC now owns 2,797 shares of the utilities provider’s stock valued at $204,000 after acquiring an additional 1,197 shares in the last quarter. World Asset Management Inc raised its holdings in shares of Southwest Gas by 1.5% in the second quarter. World Asset Management Inc now owns 2,985 shares of the utilities provider’s stock valued at $218,000 after acquiring an additional 44 shares in the last quarter. Finally, Shelton Capital Management bought a new stake in shares of Southwest Gas in the second quarter valued at about $235,000. 77.50% of the stock is owned by hedge funds and other institutional investors.

SWX has been the topic of several analyst reports. KeyCorp reiterated a “hold” rating on shares of Southwest Gas in a research note on Friday, October 20th. Jefferies Group reiterated a “hold” rating and issued a $70.00 target price on shares of Southwest Gas in a research note on Thursday, August 31st. Citigroup lifted their target price on Southwest Gas from $79.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, November 20th. UBS lifted their target price on Southwest Gas from $83.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, November 8th. Finally, BidaskClub lowered Southwest Gas from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. Southwest Gas presently has a consensus rating of “Hold” and an average price target of $81.25.

In related news, VP Kenneth J. Kenny sold 600 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $80.17, for a total value of $48,102.00. Following the sale, the vice president now owns 16,746 shares in the company, valued at $1,342,526.82. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Gregory J. Peterson sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $85.72, for a total value of $85,720.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,120 shares of company stock worth $423,096. 0.99% of the stock is owned by insiders.

Shares of Southwest Gas Corporation (NYSE SWX) traded down $0.07 during mid-day trading on Friday, hitting $82.67. The stock had a trading volume of 255,500 shares, compared to its average volume of 263,528. Southwest Gas Corporation has a 1-year low of $71.51 and a 1-year high of $86.87. The stock has a market capitalization of $3,949.33, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 3.75 and a beta of 0.61. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.82 and a quick ratio of 0.82.

Southwest Gas (NYSE:SWX) last issued its quarterly earnings results on Tuesday, November 7th. The utilities provider reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.07. Southwest Gas had a return on equity of 9.56% and a net margin of 6.64%. The business had revenue of $593.15 million for the quarter, compared to analyst estimates of $579.40 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. equities analysts expect that Southwest Gas Corporation will post 3.42 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be given a $0.495 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $1.98 dividend on an annualized basis and a yield of 2.40%. Southwest Gas’s dividend payout ratio is currently 58.24%.

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About Southwest Gas

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 (NYSE:SWX)

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