Lazard Asset Management LLC acquired a new stake in Southwest Gas Holdings, Inc. (NYSE:SWX – Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,061 shares of the utilities provider’s stock, valued at approximately $1,091,000.
Several other institutional investors have also modified their holdings of SWX. Fifth Third Bancorp lifted its holdings in shares of Southwest Gas by 56.1% in the third quarter. Fifth Third Bancorp now owns 484 shares of the utilities provider’s stock valued at $29,000 after buying an additional 174 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Southwest Gas in the third quarter valued at $34,000. Van ECK Associates Corp lifted its holdings in shares of Southwest Gas by 65.1% in the second quarter. Van ECK Associates Corp now owns 578 shares of the utilities provider’s stock valued at $37,000 after buying an additional 228 shares during the period. IFP Advisors Inc lifted its holdings in shares of Southwest Gas by 37.4% in the second quarter. IFP Advisors Inc now owns 713 shares of the utilities provider’s stock valued at $45,000 after buying an additional 194 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Southwest Gas by 256.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 876 shares of the utilities provider’s stock valued at $54,000 after buying an additional 630 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.
Wall Street Analyst Weigh In
SWX has been the subject of several research analyst reports. Citigroup upped their price objective on Southwest Gas from $64.00 to $73.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. StockNews.com raised Southwest Gas from a “sell” rating to a “hold” rating in a report on Wednesday, December 27th.
View Our Latest Stock Analysis on SWX
Insider Activity at Southwest Gas
In related news, CEO Paul M. Daily sold 1,000 shares of the company’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $63.80, for a total transaction of $63,800.00. Following the transaction, the chief executive officer now directly owns 58,377 shares of the company’s stock, valued at $3,724,452.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is owned by insiders.
Southwest Gas Trading Up 0.4 %
Shares of NYSE SWX opened at $74.11 on Friday. Southwest Gas Holdings, Inc. has a 12 month low of $53.79 and a 12 month high of $74.27. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 34.96, a P/E/G ratio of 4.49 and a beta of 0.35. The company has a quick ratio of 1.90, a current ratio of 1.12 and a debt-to-equity ratio of 1.39. The business has a fifty day simple moving average of $62.50 and a 200-day simple moving average of $61.43.
Southwest Gas (NYSE:SWX – Get Free Report) last announced its earnings results on Wednesday, February 28th. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $0.97 by $0.16. Southwest Gas had a return on equity of 7.28% and a net margin of 2.78%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.27 billion. Sell-side analysts predict that Southwest Gas Holdings, Inc. will post 3.29 EPS for the current year.
Southwest Gas Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.35%. The ex-dividend date is Tuesday, May 14th. Southwest Gas’s payout ratio is 116.98%.
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.
Further Reading
Want to see what other hedge funds are holding SWX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southwest Gas Holdings, Inc. (NYSE:SWX – Free Report).
Receive News & Ratings for Southwest Gas Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Southwest Gas and related companies with MarketBeat.com’s FREE daily email newsletter.