Ajo LP Lowers Position in Southwest Gas Holdings Inc (NYSE:SWX)

AJO LP lessened its stake in shares of Southwest Gas Holdings Inc (NYSE:SWX) by 14.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 618,265 shares of the utilities provider’s stock after selling 101,983 shares during the period. AJO LP owned about 1.16% of Southwest Gas worth $50,858,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Sageworth Trust Co purchased a new stake in shares of Southwest Gas during the first quarter valued at $25,000. Quadrant Capital Group LLC boosted its holdings in Southwest Gas by 189.9% in the first quarter. Quadrant Capital Group LLC now owns 400 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 262 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Southwest Gas in the first quarter valued at $41,000. Hanson McClain Inc. boosted its holdings in Southwest Gas by 173.5% in the first quarter. Hanson McClain Inc. now owns 547 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 347 shares during the last quarter. Finally, Westpac Banking Corp purchased a new stake in Southwest Gas in the fourth quarter valued at $57,000. 82.82% of the stock is owned by hedge funds and other institutional investors.

In related news, SVP Eric Debonis sold 350 shares of Southwest Gas stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $83.19, for a total transaction of $29,116.50. Following the sale, the senior vice president now directly owns 10,800 shares in the company, valued at approximately $898,452. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John P. Hester sold 2,000 shares of Southwest Gas stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $87.20, for a total transaction of $174,400.00. Following the sale, the insider now owns 64,694 shares in the company, valued at $5,641,316.80. The disclosure for this sale can be found here. Insiders sold a total of 6,350 shares of company stock worth $555,637 over the last 90 days. Company insiders own 0.83% of the company’s stock.

Shares of SWX traded down $1.79 during mid-day trading on Wednesday, hitting $89.01. 262,278 shares of the company were exchanged, compared to its average volume of 263,782. Southwest Gas Holdings Inc has a 1-year low of $72.68 and a 1-year high of $91.70. The stock has a market cap of $4.83 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 3.74 and a beta of 0.33. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.90. The firm’s 50 day simple moving average is $86.31.

Southwest Gas (NYSE:SWX) last announced its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.19. Southwest Gas had a net margin of 6.69% and a return on equity of 9.34%. The company had revenue of $807.10 million during the quarter, compared to analysts’ expectations of $516.97 million. During the same quarter in the prior year, the company earned $1.63 EPS. Southwest Gas’s revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts expect that Southwest Gas Holdings Inc will post 3.92 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be issued a $0.545 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.45%. Southwest Gas’s payout ratio is 59.24%.

A number of research analysts have weighed in on SWX shares. Zacks Investment Research upgraded shares of Southwest Gas from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research report on Wednesday, May 1st. Williams Capital upgraded shares of Southwest Gas from a “hold” rating to a “buy” rating and upped their price objective for the stock from $81.00 to $96.00 in a research report on Tuesday, June 18th. Wells Fargo & Co reiterated a “hold” rating on shares of Southwest Gas in a research report on Friday, May 10th. Finally, ValuEngine downgraded shares of Southwest Gas from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Southwest Gas presently has an average rating of “Hold” and a consensus price target of $87.33.

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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