Emerald Acquisition Ltd. Purchases Shares of 13,855 Southwest Gas Corp. (SWX)
Emerald Acquisition Ltd. purchased a new stake in shares of Southwest Gas Corp. (NYSE:SWX) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 13,855 shares of the company’s stock, valued at approximately $1,090,000.
Other institutional investors also recently modified their holdings of the company. LS Investment Advisors LLC increased its stake in Southwest Gas Corp. by 75.4% in the second quarter. LS Investment Advisors LLC now owns 2,833 shares of the company’s stock valued at $223,000 after buying an additional 1,218 shares during the last quarter. Intrust Bank NA acquired a new stake in Southwest Gas Corp. during the second quarter valued at approximately $256,000. Eqis Capital Management Inc. increased its stake in Southwest Gas Corp. by 47.1% in the second quarter. Eqis Capital Management Inc. now owns 4,853 shares of the company’s stock valued at $382,000 after buying an additional 1,555 shares during the last quarter. Quotient Investors LLC acquired a new stake in Southwest Gas Corp. during the second quarter valued at approximately $616,000. Finally, UBS Group AG increased its stake in Southwest Gas Corp. by 8.6% in the first quarter. UBS Group AG now owns 11,254 shares of the company’s stock valued at $741,000 after buying an additional 891 shares during the last quarter. Hedge funds and other institutional investors own 80.16% of the company’s stock.
Shares of Southwest Gas Corp. (NYSE:SWX) traded down 1.24% on Friday, reaching $65.13. The company’s stock had a trading volume of 174,522 shares. Southwest Gas Corp. has a 12-month low of $50.53 and a 12-month high of $79.58. The firm has a 50 day moving average price of $70.27 and a 200-day moving average price of $70.94. The stock has a market cap of $3.09 billion, a PE ratio of 21.27 and a beta of 0.54.
Southwest Gas Corp. (NYSE:SWX) last issued its earnings results on Monday, August 8th. The company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. Southwest Gas Corp. had a return on equity of 9.07% and a net margin of 5.90%. The business earned $547.70 million during the quarter, compared to analysts’ expectations of $559.21 million. During the same period in the prior year, the business earned $0.13 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities research analysts expect that Southwest Gas Corp. will post $3.17 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Thursday, November 10th. Southwest Gas Corp.’s dividend payout ratio (DPR) is currently 59.02%.
Several equities research analysts recently commented on the company. Zacks Investment Research upgraded Southwest Gas Corp. from a “sell” rating to a “hold” rating in a report on Saturday, October 1st. Argus reiterated a “hold” rating on shares of Southwest Gas Corp. in a report on Thursday, September 8th. Citigroup Inc. raised their target price on Southwest Gas Corp. from $62.00 to $79.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. Finally, Jefferies Group cut Southwest Gas Corp. from a “hold” rating to an “underperform” rating and set a $64.00 target price on the stock. in a research report on Monday, July 25th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Southwest Gas Corp. presently has an average rating of “Hold” and a consensus target price of $71.25.
In related news, CFO Roy R. Centrella sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $71.54, for a total transaction of $71,540.00. Following the completion of the sale, the chief financial officer now directly owns 31,618 shares in the company, valued at approximately $2,261,951.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Eric Debonis sold 600 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $72.99, for a total value of $43,794.00. Following the sale, the senior vice president now owns 19,694 shares of the company’s stock, valued at $1,437,465.06. The disclosure for this sale can be found here. Corporate insiders own 1.34% of the company’s stock.
Southwest Gas Corp. Company Profile
Southwest Gas Corporation is engaged in the business of purchasing, distributing and transporting natural gas in Arizona, Nevada and California. 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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