Southwest Gas Corporation $SWX Shares Sold by Moody Aldrich Partners LLC
by Amy Steele · The Cerbat GemMoody Aldrich Partners LLC trimmed its holdings in shares of Southwest Gas Corporation (NYSE:SWX – Free Report) by 26.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 93,928 shares of the utilities provider’s stock after selling 34,245 shares during the period. Southwest Gas accounts for 1.4% of Moody Aldrich Partners LLC’s portfolio, making the stock its 17th biggest position. Moody Aldrich Partners LLC’s holdings in Southwest Gas were worth $6,987,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Private Trust Co. NA acquired a new stake in Southwest Gas during the second quarter worth about $25,000. Headlands Technologies LLC boosted its position in Southwest Gas by 144.0% during the 1st quarter. Headlands Technologies LLC now owns 510 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 301 shares during the period. Golden State Wealth Management LLC boosted its position in Southwest Gas by 1,001.8% during the 1st quarter. Golden State Wealth Management LLC now owns 606 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 551 shares during the period. Quarry LP grew its stake in Southwest Gas by 118.3% during the 1st quarter. Quarry LP now owns 751 shares of the utilities provider’s stock worth $54,000 after buying an additional 407 shares during the last quarter. Finally, ST Germain D J Co. Inc. lifted its stake in Southwest Gas by 194.6% in the second quarter. ST Germain D J Co. Inc. now owns 813 shares of the utilities provider’s stock valued at $60,000 after buying an additional 537 shares during the last quarter. 92.77% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, major shareholder Carl C. Icahn sold 1,500,000 shares of Southwest Gas stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $77.91, for a total transaction of $116,865,000.00. Following the transaction, the insider directly owned 6,032,604 shares of the company’s stock, valued at $470,000,177.64. The trade was a 19.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is owned by corporate insiders.
Southwest Gas Trading Down 0.2%
Southwest Gas stock opened at $79.82 on Friday. Southwest Gas Corporation has a 12-month low of $64.69 and a 12-month high of $82.08. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.94. The stock has a market capitalization of $5.75 billion, a PE ratio of 29.78, a price-to-earnings-growth ratio of 2.28 and a beta of 0.55. The firm has a 50 day simple moving average of $78.82 and a 200-day simple moving average of $75.97.
Southwest Gas (NYSE:SWX – Get Free Report) last released its earnings results on Wednesday, August 6th. The utilities provider reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.11. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.17 billion. Southwest Gas had a return on equity of 6.98% and a net margin of 4.06%.The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 earnings per share. As a group, equities research analysts expect that Southwest Gas Corporation will post 3.03 EPS for the current fiscal year.
Southwest Gas Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a $0.62 dividend. The ex-dividend date is Monday, November 17th. This represents a $2.48 annualized dividend and a dividend yield of 3.1%. Southwest Gas’s dividend payout ratio is 92.54%.
Analyst Upgrades and Downgrades
SWX has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Southwest Gas in a report on Wednesday, October 8th. Mizuho assumed coverage on shares of Southwest Gas in a research report on Wednesday. They issued an “outperform” rating and a $91.00 target price for the company. Zacks Research raised Southwest Gas from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Bank of America upgraded Southwest Gas from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $76.00 to $84.00 in a research report on Friday, August 29th. Finally, Jefferies Financial Group lifted their target price on Southwest Gas from $82.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $84.50.
Southwest Gas Company Profile
Southwest Gas Holdings, Inc, through its subsidiaries, distributes and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Distribution, Utility Infrastructure Services, and Pipeline and Storage segments. It also provides trenching, installation, and replacement of underground pipes, as well as maintenance services for energy distribution systems.
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