Insider Selling: Southwest Gas Corporation (SWX) VP Sells 600 Shares of Stock
Southwest Gas Corporation (NYSE:SWX) VP Kenneth J. Kenny sold 600 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $80.90, for a total value of $48,540.00. Following the completion of the sale, the vice president now owns 17,137 shares of the company’s stock, valued at approximately $1,386,383.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Southwest Gas Corporation (NYSE SWX) traded up 0.59% during mid-day trading on Friday, hitting $81.15. The company had a trading volume of 286,298 shares. Southwest Gas Corporation has a 52-week low of $64.26 and a 52-week high of $86.65. The firm has a 50-day moving average price of $77.70 and a 200 day moving average price of $80.66. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 25.12 and a beta of 0.60.
Southwest Gas Corporation (NYSE:SWX) last posted its earnings results on Monday, August 7th. The utilities provider reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.09. Southwest Gas Corporation had a net margin of 6.46% and a return on equity of 9.09%. The firm had revenue of $560.50 million during the quarter, compared to the consensus estimate of $564.84 million. During the same quarter last year, the firm earned $0.19 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts expect that Southwest Gas Corporation will post $3.38 earnings per share for the current year.
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Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Southwest Gas Corporation by 5,500.3% in the first quarter. BlackRock Inc. now owns 5,796,013 shares of the utilities provider’s stock valued at $480,546,000 after buying an additional 5,692,518 shares during the period. Vanguard Group Inc. increased its stake in Southwest Gas Corporation by 19.0% in the first quarter. Vanguard Group Inc. now owns 5,332,229 shares of the utilities provider’s stock valued at $442,095,000 after buying an additional 849,583 shares during the period. AJO LP increased its stake in Southwest Gas Corporation by 279.6% in the second quarter. AJO LP now owns 399,472 shares of the utilities provider’s stock valued at $29,185,000 after buying an additional 294,244 shares during the period. Renaissance Technologies LLC increased its stake in Southwest Gas Corporation by 336.6% in the second quarter. Renaissance Technologies LLC now owns 370,700 shares of the utilities provider’s stock valued at $27,083,000 after buying an additional 285,800 shares during the period. Finally, Bank of America Corp DE increased its stake in Southwest Gas Corporation by 74.8% in the first quarter. Bank of America Corp DE now owns 635,225 shares of the utilities provider’s stock valued at $52,667,000 after buying an additional 271,826 shares during the period. Hedge funds and other institutional investors own 78.55% of the company’s stock.
A number of analysts recently issued reports on SWX shares. Zacks Investment Research upgraded Southwest Gas Corporation from a “sell” rating to a “hold” rating in a report on Friday, April 14th. Jefferies Group LLC reiterated a “sell” rating and issued a $68.00 price target on shares of Southwest Gas Corporation in a report on Tuesday, May 9th. Finally, BidaskClub lowered Southwest Gas Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 27th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $80.50.
About Southwest Gas Corporation
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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