Mutual of America Capital Management LLC boosted its stake in Southwest Gas Corporation (NYSE:SWX) by 2.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 37,040 shares of the utilities provider’s stock after buying an additional 848 shares during the period. Mutual of America Capital Management LLC owned approximately 0.08% of Southwest Gas Corporation worth $3,071,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. World Asset Management Inc boosted its stake in Southwest Gas Corporation by 1.7% in the first quarter. World Asset Management Inc now owns 2,941 shares of the utilities provider’s stock valued at $244,000 after buying an additional 50 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Southwest Gas Corporation by 6.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,575 shares of the utilities provider’s stock worth $120,000 after buying an additional 98 shares during the last quarter. Tributary Capital Management LLC boosted its position in shares of Southwest Gas Corporation by 0.4% in the third quarter. Tributary Capital Management LLC now owns 25,500 shares of the utilities provider’s stock worth $1,781,000 after buying an additional 100 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Southwest Gas Corporation by 0.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 20,122 shares of the utilities provider’s stock worth $1,668,000 after buying an additional 140 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC boosted its position in shares of Southwest Gas Corporation by 14.4% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,268 shares of the utilities provider’s stock worth $106,000 after buying an additional 160 shares during the last quarter. 78.44% of the stock is currently owned by hedge funds and other institutional investors.
Southwest Gas Corporation (NYSE:SWX) traded up 0.92% on Friday, reaching $77.81. 784,422 shares of the company were exchanged. The company’s 50-day moving average price is $79.58 and its 200-day moving average price is $80.37. Southwest Gas Corporation has a 12-month low of $64.26 and a 12-month high of $86.65. The stock has a market capitalization of $3.70 billion, a P/E ratio of 25.49 and a beta of 0.58.
Southwest Gas Corporation (NYSE:SWX) last posted its quarterly earnings results on Monday, May 8th. The utilities provider reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by $0.18. The company had revenue of $654.74 million during the quarter, compared to analysts’ expectations of $741.80 million. Southwest Gas Corporation had a return on equity of 8.65% and a net margin of 6.12%. Southwest Gas Corporation’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.58 EPS. Equities research analysts anticipate that Southwest Gas Corporation will post $3.38 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be given a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Friday, August 11th. Southwest Gas Corporation’s dividend payout ratio is presently 64.71%.
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A number of brokerages have issued reports on SWX. Bank of America Corporation cut shares of Southwest Gas Corporation from a “buy” rating to a “neutral” rating and set a $88.00 price objective on the stock. in a research note on Monday, March 6th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Southwest Gas Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, March 8th. Finally, Jefferies Group LLC reiterated a “sell” rating and issued a $68.00 target price on shares of Southwest Gas Corporation in a report on Friday, March 31st. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Southwest Gas Corporation presently has a consensus rating of “Hold” and an average price target of $80.75.
In other news, SVP Eric Debonis sold 350 shares of Southwest Gas Corporation stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $80.02, for a total value of $28,007.00. Following the completion of the transaction, the senior vice president now owns 20,057 shares of the company’s stock, valued at approximately $1,604,961.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.34% of the stock is owned by insiders.
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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