Cornercap Investment Counsel Inc. purchased a new position in shares of Southwest Gas Holdings Inc (NYSE:SWX) in the fourth quarter, HoldingsChannel reports. The fund purchased 8,720 shares of the utilities provider’s stock, valued at approximately $702,000.

Several other institutional investors have also recently modified their holdings of SWX. First Trust Advisors LP increased its position in Southwest Gas by 46.8% during the 3rd quarter. First Trust Advisors LP now owns 42,907 shares of the utilities provider’s stock worth $3,330,000 after purchasing an additional 13,687 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in Southwest Gas during the 3rd quarter worth approximately $509,000. CIBC Asset Management Inc acquired a new position in Southwest Gas during the 3rd quarter worth approximately $238,000. New York State Common Retirement Fund increased its position in Southwest Gas by 30.1% during the 3rd quarter. New York State Common Retirement Fund now owns 130,949 shares of the utilities provider’s stock worth $10,164,000 after purchasing an additional 30,272 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in Southwest Gas by 21.9% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 25,745 shares of the utilities provider’s stock worth $1,998,000 after purchasing an additional 4,617 shares in the last quarter. 80.14% of the stock is owned by institutional investors.

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Southwest Gas Holdings Inc (NYSE SWX) opened at $70.29 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.81 and a quick ratio of 0.81. Southwest Gas Holdings Inc has a 12-month low of $62.53 and a 12-month high of $86.87. The stock has a market cap of $3,404.37, a P/E ratio of 17.53 and a beta of 0.57.

Southwest Gas (NYSE:SWX) last announced its quarterly earnings results on Tuesday, February 27th. The utilities provider reported $1.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.08. Southwest Gas had a net margin of 7.61% and a return on equity of 10.00%. The firm had revenue of $740.43 million during the quarter, compared to analysts’ expectations of $705.70 million. equities research analysts predict that Southwest Gas Holdings Inc will post 3.59 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Tuesday, May 15th will be given a $0.52 dividend. This is a boost from Southwest Gas’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Monday, May 14th. Southwest Gas’s dividend payout ratio is 49.13%.

In other Southwest Gas news, SVP Eric Debonis sold 1,400 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $63.43, for a total value of $88,802.00. Following the completion of the transaction, the senior vice president now directly owns 14,229 shares in the company, valued at approximately $902,545.47. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.99% of the company’s stock.

A number of equities analysts recently issued reports on the stock. Citigroup upped their price objective on shares of Southwest Gas from $79.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, November 20th. UBS Group upgraded shares of Southwest Gas from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Tuesday, December 19th. Finally, Zacks Investment Research upgraded shares of Southwest Gas from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Southwest Gas currently has an average rating of “Hold” and a consensus target price of $81.50.

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Southwest Gas 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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Institutional Ownership by Quarter for Southwest Gas (NYSE:SWX)

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