Russell Investments Group Ltd. Sells 23,082 Shares of Southwest Gas Holdings Inc (NYSE:SWX)

Russell Investments Group Ltd. lowered its holdings in Southwest Gas Holdings Inc (NYSE:SWX) by 21.6% in the second quarter, HoldingsChannel.com reports. The firm owned 83,910 shares of the utilities provider’s stock after selling 23,082 shares during the quarter. Russell Investments Group Ltd.’s holdings in Southwest Gas were worth $7,518,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TCI Wealth Advisors Inc. raised its position in shares of Southwest Gas by 39.4% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 407 shares of the utilities provider’s stock valued at $36,000 after buying an additional 115 shares in the last quarter. 6 Meridian raised its position in shares of Southwest Gas by 2.1% in the 2nd quarter. 6 Meridian now owns 6,175 shares of the utilities provider’s stock valued at $553,000 after buying an additional 127 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Southwest Gas by 3.1% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 4,605 shares of the utilities provider’s stock valued at $413,000 after buying an additional 140 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Southwest Gas by 1.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,810 shares of the utilities provider’s stock valued at $879,000 after buying an additional 150 shares in the last quarter. Finally, Creative Planning raised its position in shares of Southwest Gas by 3.8% in the 2nd quarter. Creative Planning now owns 4,922 shares of the utilities provider’s stock valued at $441,000 after buying an additional 181 shares in the last quarter. 83.16% of the stock is owned by hedge funds and other institutional investors.

SWX stock traded up $1.03 during trading on Thursday, reaching $92.20. 6,187 shares of the company were exchanged, compared to its average volume of 246,957. The company has a 50-day moving average of $89.40 and a two-hundred day moving average of $86.35. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 24.97, a P/E/G ratio of 3.70 and a beta of 0.30. Southwest Gas Holdings Inc has a twelve month low of $72.68 and a twelve month high of $92.31. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 1.04.

Southwest Gas (NYSE:SWX) last released its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.02). The company had revenue of $713.01 million for the quarter, compared to analyst estimates of $289.70 million. Southwest Gas had a return on equity of 8.86% and a net margin of 6.61%. Southwest Gas’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 earnings per share. On average, analysts forecast that Southwest Gas Holdings Inc will post 3.92 EPS for the current year.

In related news, VP Kenneth J. Kenny sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $90.26, for a total transaction of $45,130.00. Following the completion of the transaction, the vice president now directly owns 16,121 shares in the company, valued at approximately $1,455,081.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John P. Hester sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $90.60, for a total transaction of $181,200.00. Following the transaction, the chief executive officer now owns 62,694 shares of the company’s stock, valued at $5,680,076.40. The disclosure for this sale can be found here. 0.83% of the stock is owned by corporate insiders.

Several equities analysts have recently commented on SWX shares. Williams Capital upgraded shares of Southwest Gas from a “hold” rating to a “buy” rating and boosted their target price for the company from $81.00 to $96.00 in a research report on Tuesday, June 18th. JPMorgan Chase & Co. started coverage on shares of Southwest Gas in a research report on Wednesday, July 17th. They issued an “overweight” rating and a $93.00 target price for the company. Wells Fargo & Co set a $93.00 target price on shares of Southwest Gas and gave the company a “hold” rating in a research report on Tuesday, September 3rd. ValuEngine cut shares of Southwest Gas from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research cut shares of Southwest Gas from a “buy” rating to a “hold” rating in a research report on Saturday, August 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $89.86.

Southwest Gas Company Profile

Southwest Gas Holdings, Inc, through its subsidiaries, purchases, distributes, and transports natural gas in Arizona, Nevada, and California. The company operates through two segments, Natural Gas Operations and Utility Infrastructure Services. As of December 31, 2018, it had 2,047,000 residential, commercial, industrial, and other natural gas customers.

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

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