Dimensional Fund Advisors LP lowered its position in Southwest Gas Corporation (NYSE:SWX) by 12.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 790,429 shares of the utilities provider’s stock after selling 108,662 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.66% of Southwest Gas worth $61,354,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wells Fargo & Company MN raised its stake in shares of Southwest Gas by 40.5% during the third quarter. Wells Fargo & Company MN now owns 159,778 shares of the utilities provider’s stock worth $12,402,000 after purchasing an additional 46,071 shares during the last quarter. Virginia Retirement Systems ET AL raised its stake in shares of Southwest Gas by 45.5% during the third quarter. Virginia Retirement Systems ET AL now owns 25,600 shares of the utilities provider’s stock worth $1,987,000 after purchasing an additional 8,000 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Southwest Gas by 8.9% during the third quarter. Legal & General Group Plc now owns 155,122 shares of the utilities provider’s stock worth $12,042,000 after purchasing an additional 12,717 shares during the last quarter. ETRADE Capital Management LLC raised its stake in shares of Southwest Gas by 69.2% during the third quarter. ETRADE Capital Management LLC now owns 17,799 shares of the utilities provider’s stock worth $1,382,000 after purchasing an additional 7,279 shares during the last quarter. Finally, TD Asset Management Inc. raised its stake in shares of Southwest Gas by 20.8% during the third quarter. TD Asset Management Inc. now owns 21,770 shares of the utilities provider’s stock worth $1,690,000 after purchasing an additional 3,755 shares during the last quarter. Institutional investors own 77.41% of the company’s stock.
Southwest Gas Corporation (SWX) opened at $80.48 on Monday. Southwest Gas Corporation has a twelve month low of $72.32 and a twelve month high of $86.87. The firm has a market capitalization of $3,841.47, a price-to-earnings ratio of 23.67, a P/E/G ratio of 4.04 and a beta of 0.61. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.01.
Southwest Gas (NYSE:SWX) last announced its quarterly earnings data 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 firm had revenue of $593.15 million for the quarter, compared to analyst estimates of $579.40 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. Southwest Gas’s quarterly revenue was up 9.8% on a year-over-year basis. analysts expect that Southwest Gas Corporation will post 3.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be issued a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Wednesday, February 14th. Southwest Gas’s dividend payout ratio is presently 58.24%.
Several equities research analysts have recently commented on SWX shares. Jefferies Group restated a “hold” rating and set a $70.00 price target on shares of Southwest Gas in a research note on Monday, October 16th. KeyCorp restated a “hold” rating on shares of Southwest Gas in a research note on Friday, October 20th. UBS Group upped their price target on Southwest Gas from $83.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 8th. Finally, Citigroup upped their price target on Southwest Gas from $79.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, November 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $81.25.
In related news, SVP Eric Debonis sold 3,520 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $82.18, for a total transaction of $289,273.60. Following the transaction, the senior vice president now owns 16,060 shares of the company’s stock, valued at $1,319,810.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Gregory J. Peterson sold 1,000 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was 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. Insiders have sold 5,120 shares of company stock worth $423,096 in the last ninety days. 0.99% of the stock is currently owned by corporate insiders.
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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).
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