Nationwide Fund Advisors Has $11.99 Million Stake in Southwest Gas Corporation (SWX)
Nationwide Fund Advisors lowered its position in Southwest Gas Corporation (NYSE:SWX) by 5.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,439 shares of the utilities provider’s stock after selling 9,476 shares during the period. Nationwide Fund Advisors owned about 0.32% of Southwest Gas worth $11,988,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. State Street Corp raised its holdings in shares of Southwest Gas by 3.6% in the second quarter. State Street Corp now owns 1,654,461 shares of the utilities provider’s stock valued at $120,875,000 after purchasing an additional 57,189 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Southwest Gas by 1.8% in the second quarter. Northern Trust Corp now owns 1,444,315 shares of the utilities provider’s stock valued at $105,521,000 after purchasing an additional 26,071 shares during the last quarter. Macquarie Group Ltd. raised its holdings in shares of Southwest Gas by 53.9% in the second quarter. Macquarie Group Ltd. now owns 1,353,810 shares of the utilities provider’s stock valued at $98,909,000 after purchasing an additional 474,320 shares during the last quarter. FMR LLC raised its holdings in shares of Southwest Gas by 13.0% in the second quarter. FMR LLC now owns 890,233 shares of the utilities provider’s stock valued at $65,040,000 after purchasing an additional 102,527 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Southwest Gas by 12.7% in the second quarter. JPMorgan Chase & Co. now owns 819,202 shares of the utilities provider’s stock valued at $64,808,000 after purchasing an additional 92,559 shares during the last quarter. Institutional investors own 77.50% of the company’s stock.
Southwest Gas Corporation (SWX) traded up $0.29 during midday trading on Monday, reaching $86.23. 356,700 shares of the company were exchanged, compared to its average volume of 263,947. Southwest Gas Corporation has a 1-year low of $71.51 and a 1-year high of $86.65. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $4,115.92, a P/E ratio of 25.36, a PEG ratio of 3.91 and a beta of 0.61.
Southwest Gas (NYSE:SWX) last posted its quarterly earnings data on Tuesday, November 7th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.07. Southwest Gas had a net margin of 6.64% and a return on equity of 9.56%. The business had revenue of $593.15 million during the quarter, compared to the consensus estimate of $579.40 million. During the same quarter last year, the company posted $0.05 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. research analysts predict that Southwest Gas Corporation will post 3.42 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be issued a dividend of $0.495 per share. The ex-dividend date is Wednesday, February 14th. This represents a $1.98 dividend on an annualized basis and a yield of 2.30%. Southwest Gas’s dividend payout ratio (DPR) is presently 58.24%.
Several analysts have recently commented on SWX shares. Zacks Investment Research upgraded shares of Southwest Gas from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. BidaskClub downgraded shares of Southwest Gas from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 23rd. Jefferies Group restated a “hold” rating and set a $70.00 price objective on shares of Southwest Gas in a report on Thursday, August 31st. KeyCorp restated a “hold” rating on shares of Southwest Gas in a report on Friday, September 1st. Finally, UBS raised their price objective on shares of Southwest Gas from $83.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $81.25.
In other Southwest Gas news, SVP Eric Debonis sold 3,520 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $82.18, for a total transaction of $289,273.60. Following the completion of the transaction, the senior vice president now owns 16,060 shares in the company, valued at $1,319,810.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gregory J. Peterson sold 1,000 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $85.72, for a total transaction of $85,720.00. The disclosure for this sale can be found here. Insiders have sold 5,120 shares of company stock valued at $423,096 in the last 90 days. 0.99% of the stock is currently owned by corporate insiders.
About Southwest Gas
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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