Advisors Asset Management Inc. Sells 5,210 Shares of Southwest Gas Holdings Inc (SWX)

Advisors Asset Management Inc. lowered its holdings in shares of Southwest Gas Holdings Inc (NYSE:SWX) by 52.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,676 shares of the utilities provider’s stock after selling 5,210 shares during the period. Advisors Asset Management Inc.’s holdings in Southwest Gas were worth $357,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Southwest Gas by 1.4% during the second quarter. BlackRock Inc. now owns 5,704,362 shares of the utilities provider’s stock valued at $435,074,000 after acquiring an additional 79,815 shares during the period. Macquarie Group Ltd. lifted its holdings in shares of Southwest Gas by 11.1% during the second quarter. Macquarie Group Ltd. now owns 2,021,062 shares of the utilities provider’s stock valued at $154,147,000 after acquiring an additional 201,626 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in shares of Southwest Gas during the second quarter valued at $62,438,000. Dimensional Fund Advisors LP lifted its holdings in shares of Southwest Gas by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 702,137 shares of the utilities provider’s stock valued at $53,553,000 after acquiring an additional 5,626 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Southwest Gas by 2.8% during the second quarter. Victory Capital Management Inc. now owns 602,674 shares of the utilities provider’s stock valued at $45,966,000 after acquiring an additional 16,438 shares during the period. Hedge funds and other institutional investors own 83.56% of the company’s stock.

Southwest Gas stock opened at $82.51 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.05 and a quick ratio of 1.05. Southwest Gas Holdings Inc has a 12-month low of $62.53 and a 12-month high of $86.87. The stock has a market capitalization of $3.98 billion, a P/E ratio of 22.79, a price-to-earnings-growth ratio of 5.42 and a beta of 0.39.

Southwest Gas (NYSE:SWX) last released its quarterly earnings results on Tuesday, November 6th. The utilities provider reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.11. Southwest Gas had a return on equity of 10.22% and a net margin of 7.51%. The business had revenue of $668.10 million during the quarter, compared to analysts’ expectations of $224.00 million. During the same period in the previous year, the business posted $0.21 earnings per share. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, sell-side analysts predict that Southwest Gas Holdings Inc will post 3.74 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Thursday, November 15th will be issued a $0.52 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.52%. Southwest Gas’s dividend payout ratio is 57.46%.

In related news, VP Kenneth J. Kenny sold 500 shares of Southwest Gas stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $82.67, for a total value of $41,335.00. Following the completion of the transaction, the vice president now directly owns 15,509 shares of the company’s stock, valued at $1,282,129.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.99% of the company’s stock.

A number of research analysts have issued reports on SWX shares. Zacks Investment Research cut Southwest Gas from a “strong-buy” rating to a “hold” rating in a report on Friday, October 19th. ValuEngine cut Southwest Gas from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Bank of America set a $76.00 price objective on Southwest Gas and gave the company a “sell” rating in a report on Wednesday, October 3rd. Finally, Citigroup lifted their price objective on Southwest Gas from $73.00 to $80.00 and gave the company a “hold” rating in a report on Wednesday, October 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $78.17.

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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 Natural Gas Operations and Construction Services segments. As of December 31, 2017, it had 2,015,000 residential, commercial, industrial, and other natural gas customers.

Further Reading: Why do earnings reports matter?

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

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