1ST Source Bank Has $335,000 Stake in Southwest Gas Corp. (SWX)
1ST Source Bank continued to hold its position in shares of Southwest Gas Corp. (NYSE:SWX) during the second quarter, Holdings Channel reports. The fund owned 4,260 shares of the company’s stock at the end of the second quarter. 1ST Source Bank’s holdings in Southwest Gas Corp. were worth $335,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Group LTD raised its position in Southwest Gas Corp. by 7.6% in the first quarter. BlackRock Group LTD now owns 100,078 shares of the company’s stock worth $6,590,000 after buying an additional 7,080 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Southwest Gas Corp. by 4.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,233,773 shares of the company’s stock worth $81,244,000 after buying an additional 47,840 shares during the period. BlackRock Inc. raised its position in Southwest Gas Corp. by 13.6% in the first quarter. BlackRock Inc. now owns 44,329 shares of the company’s stock worth $2,920,000 after buying an additional 5,304 shares during the period. Prudential Financial Inc. raised its position in Southwest Gas Corp. by 8.2% in the first quarter. Prudential Financial Inc. now owns 126,004 shares of the company’s stock worth $8,298,000 after buying an additional 9,582 shares during the period. Finally, Aperio Group LLC raised its position in Southwest Gas Corp. by 17.4% in the first quarter. Aperio Group LLC now owns 11,631 shares of the company’s stock worth $766,000 after buying an additional 1,728 shares during the period. 80.17% of the stock is owned by hedge funds and other institutional investors.
Shares of Southwest Gas Corp. (NYSE:SWX) traded up 1.221% during mid-day trading on Monday, reaching $67.585. The company’s stock had a trading volume of 81,443 shares. The firm’s 50 day moving average is $69.40 and its 200 day moving average is $70.93. The firm has a market cap of $3.21 billion, a PE ratio of 22.072 and a beta of 0.54. Southwest Gas Corp. has a one year low of $50.53 and a one year high of $79.58.
Southwest Gas Corp. (NYSE:SWX) last announced its earnings results on Monday, August 8th. The company reported $0.19 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $559.21 million. During the same quarter in the previous year, the business earned $0.13 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities analysts anticipate that Southwest Gas Corp. will post $3.17 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.70%. Southwest Gas Corp.’s payout ratio is 59.02%.
A number of research analysts recently weighed in on the company. Jefferies Group lowered Southwest Gas Corp. from a “hold” rating to an “underperform” rating and set a $64.00 price objective for the company. in a research report on Monday, July 25th. Citigroup Inc. raised their price objective on Southwest Gas Corp. from $62.00 to $79.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Argus reaffirmed a “hold” rating on shares of Southwest Gas Corp. in a research report on Thursday, September 8th. Finally, Zacks Investment Research raised Southwest Gas Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, September 20th. Five research analysts have rated the stock with a hold rating, Southwest Gas Corp. currently has a consensus rating of “Hold” and an average price target of $71.50.
In related news, CFO Roy R. Centrella sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $71.54, for a total value of $71,540.00. Following the completion of the sale, the chief financial officer now owns 31,618 shares in the company, valued at $2,261,951.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eric Debonis sold 600 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $72.99, for a total value of $43,794.00. Following the completion of the sale, the senior vice president now owns 19,694 shares of the company’s stock, valued at approximately $1,437,465.06. The disclosure for this sale can be found here. 1.34% of the stock is owned by corporate insiders.
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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