Allianz Asset Management GmbH lowered its position in shares of Southwest Gas Corporation (NYSE:SWX) by 8.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 127,445 shares of the utilities provider’s stock after selling 11,476 shares during the quarter. Allianz Asset Management GmbH owned about 0.27% of Southwest Gas worth $9,893,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SWX. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Southwest Gas by 7.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,725 shares of the utilities provider’s stock valued at $126,000 after buying an additional 118 shares during the last quarter. Flinton Capital Management LLC raised its stake in shares of Southwest Gas by 69.7% during the 2nd quarter. Flinton Capital Management LLC now owns 2,416 shares of the utilities provider’s stock valued at $177,000 after buying an additional 992 shares during the last quarter. Ashfield Capital Partners LLC purchased a new position in shares of Southwest Gas during the 3rd quarter valued at about $212,000. Riverhead Capital Management LLC raised its stake in shares of Southwest Gas by 74.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,797 shares of the utilities provider’s stock valued at $204,000 after buying an additional 1,197 shares during the last quarter. Finally, World Asset Management Inc raised its stake in shares of Southwest Gas by 1.5% during the 2nd quarter. World Asset Management Inc now owns 2,985 shares of the utilities provider’s stock valued at $218,000 after buying an additional 44 shares during the last quarter. 77.50% of the stock is owned by institutional investors.

Southwest Gas Corporation (SWX) opened at $80.11 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.01. Southwest Gas Corporation has a 52 week low of $71.51 and a 52 week high of $86.87. The firm has a market capitalization of $3,823.81, a PE ratio of 23.56, a P/E/G ratio of 3.99 and a beta of 0.61.

Southwest Gas (NYSE:SWX) last announced its quarterly earnings results on Tuesday, November 7th. The utilities provider reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.07. Southwest Gas had a return on equity of 9.56% and a net margin of 6.64%. The firm had revenue of $593.15 million during the quarter, compared to analyst estimates of $579.40 million. During the same quarter in the previous year, the business earned $0.05 EPS. Southwest Gas’s revenue for the quarter was up 9.8% compared to the same quarter last year. research analysts forecast that Southwest Gas Corporation will post 3.41 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be paid a $0.495 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $1.98 annualized dividend and a dividend yield of 2.47%. Southwest Gas’s dividend payout ratio is presently 58.24%.

In related news, VP Gregory J. Peterson sold 1,000 shares of Southwest Gas stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $85.72, for a total value of $85,720.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kenneth J. Kenny sold 600 shares of Southwest Gas stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $80.17, for a total value of $48,102.00. Following the completion of the transaction, the vice president now owns 16,746 shares of the company’s stock, valued at approximately $1,342,526.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,120 shares of company stock valued at $423,096. 0.99% of the stock is owned by company insiders.

A number of equities analysts have weighed in on SWX shares. KeyCorp reiterated a “hold” rating on shares of Southwest Gas in a research note on Friday, October 20th. UBS lifted their price objective on Southwest Gas from $83.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, November 8th. Jefferies Group reiterated a “hold” rating and set a $70.00 price objective on shares of Southwest Gas in a research note on Thursday, August 31st. BidaskClub lowered Southwest Gas from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Finally, Citigroup lifted their price objective on Southwest Gas from $79.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, November 20th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and an average price target of $81.25.

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Southwest Gas 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).

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

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