Pitcairn Co. Decreases Position in Southwest Gas Corporation (SWX)
Pitcairn Co. decreased its stake in shares of Southwest Gas Corporation (NYSE:SWX) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,129 shares of the company’s stock after selling 61 shares during the period. Pitcairn Co.’s holdings in Southwest Gas Corporation were worth $240,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in SWX. Macquarie Group Ltd. raised its position in shares of Southwest Gas Corporation by 34.8% in the second quarter. Macquarie Group Ltd. now owns 1,290,116 shares of the company’s stock valued at $101,545,000 after buying an additional 333,337 shares in the last quarter. Northern Trust Corp increased its stake in shares of Southwest Gas Corporation by 13.4% in the third quarter. Northern Trust Corp now owns 1,382,682 shares of the company’s stock worth $96,594,000 after buying an additional 163,378 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Southwest Gas Corporation during the fourth quarter worth $10,764,000. Numeric Investors LLC increased its stake in shares of Southwest Gas Corporation by 173.0% in the second quarter. Numeric Investors LLC now owns 220,600 shares of the company’s stock worth $17,363,000 after buying an additional 139,800 shares during the last quarter. Finally, BlackRock Fund Advisors increased its stake in shares of Southwest Gas Corporation by 5.6% in the third quarter. BlackRock Fund Advisors now owns 2,548,624 shares of the company’s stock worth $178,047,000 after buying an additional 134,601 shares during the last quarter. Hedge funds and other institutional investors own 76.58% of the company’s stock.
Shares of Southwest Gas Corporation (NYSE:SWX) opened at 83.51 on Friday. Southwest Gas Corporation has a 12 month low of $58.85 and a 12 month high of $83.53. The company has a market cap of $3.97 billion, a P/E ratio of 26.07 and a beta of 0.51. The company’s 50-day moving average price is $79.40 and its 200-day moving average price is $73.82.
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A number of brokerages recently weighed in on SWX. Zacks Investment Research raised Southwest Gas Corporation from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research report on Saturday, January 14th. Jefferies Group LLC downgraded Southwest Gas Corporation from a “hold” rating to an “underperform” rating and set a $65.00 price objective on the stock. in a research report on Thursday, January 12th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $75.50.
In other news, VP Gregory J. Peterson sold 600 shares of the company’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $75.19, for a total value of $45,114.00. Following the transaction, the vice president now owns 14,246 shares of the company’s stock, valued at approximately $1,071,156.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.34% of the company’s stock.
Southwest Gas Corporation Company Profile
Southwest Gas Holdings, Inc, formerly Southwest Gas Corporation, is engaged in the business of purchasing, distributing and transporting natural gas. 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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