Peregrine Capital Management LLC Reduces Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

Peregrine Capital Management LLC trimmed its position in Southwest Gas Holdings, Inc. (NYSE:SWX) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,769 shares of the utilities provider’s stock after selling 2,993 shares during the quarter. Peregrine Capital Management LLC’s holdings in Southwest Gas were worth $5,782,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Maverick Capital Ltd. grew its holdings in Southwest Gas by 18.5% in the 3rd quarter. Maverick Capital Ltd. now owns 1,765,148 shares of the utilities provider’s stock worth $130,197,000 after acquiring an additional 275,992 shares during the last quarter. Zimmer Partners LP bought a new stake in shares of Southwest Gas in the third quarter worth about $6,823,000. Barclays PLC increased its holdings in Southwest Gas by 192.7% during the 3rd quarter. Barclays PLC now owns 105,134 shares of the utilities provider’s stock valued at $7,755,000 after purchasing an additional 69,212 shares during the period. International Assets Investment Management LLC raised its position in Southwest Gas by 7,276.0% during the 3rd quarter. International Assets Investment Management LLC now owns 51,042 shares of the utilities provider’s stock valued at $3,765,000 after purchasing an additional 50,350 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Southwest Gas by 107.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 83,306 shares of the utilities provider’s stock worth $6,145,000 after buying an additional 43,131 shares during the period. 92.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SWX has been the topic of several research analyst reports. LADENBURG THALM/SH SH raised Southwest Gas to a “strong-buy” rating in a research note on Friday, January 24th. Jefferies Financial Group started coverage on shares of Southwest Gas in a research report on Tuesday, January 14th. They set a “hold” rating and a $73.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on shares of Southwest Gas from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Finally, Bank of America reiterated an “underperform” rating and set a $73.00 price target on shares of Southwest Gas in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.80.

Southwest Gas Stock Performance

Shares of SWX stock opened at $77.96 on Wednesday. The company’s fifty day moving average price is $72.70 and its 200-day moving average price is $73.42. The stock has a market cap of $5.59 billion, a PE ratio of 31.44, a price-to-earnings-growth ratio of 3.18 and a beta of 0.44. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21. Southwest Gas Holdings, Inc. has a 12 month low of $59.40 and a 12 month high of $80.29.

Southwest Gas Profile

Southwest Gas Holdings, Inc, through its subsidiaries, distributes and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Distribution, Utility Infrastructure Services, and Pipeline and Storage segments. It also provides trenching, installation, and replacement of underground pipes, as well as maintenance services for energy distribution systems.