First Quadrant L P CA lowered its position in shares of Southwest Gas Corporation (NYSE:SWX) by 26.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,832 shares of the utilities provider’s stock after selling 2,418 shares during the period. First Quadrant L P CA’s holdings in Southwest Gas Corporation were worth $530,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SWX. Macquarie Group Ltd. lifted its stake in Southwest Gas Corporation by 53.9% during the second quarter. Macquarie Group Ltd. now owns 1,353,810 shares of the utilities provider’s stock worth $98,909,000 after purchasing an additional 474,320 shares during the last quarter. AJO LP lifted its stake in Southwest Gas Corporation by 279.6% during the second quarter. AJO LP now owns 399,472 shares of the utilities provider’s stock worth $29,185,000 after purchasing an additional 294,244 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Southwest Gas Corporation by 336.6% during the second quarter. Renaissance Technologies LLC now owns 370,700 shares of the utilities provider’s stock worth $27,083,000 after purchasing an additional 285,800 shares during the last quarter. Bank of Montreal Can lifted its stake in Southwest Gas Corporation by 123.5% during the second quarter. Bank of Montreal Can now owns 221,987 shares of the utilities provider’s stock worth $16,218,000 after purchasing an additional 122,663 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in Southwest Gas Corporation by 1,060.3% during the second quarter. BNP Paribas Arbitrage SA now owns 124,859 shares of the utilities provider’s stock worth $9,122,000 after purchasing an additional 114,098 shares during the last quarter. 76.65% of the stock is owned by hedge funds and other institutional investors.

Shares of Southwest Gas Corporation (SWX) opened at $80.50 on Friday. Southwest Gas Corporation has a 52 week low of $69.85 and a 52 week high of $86.65. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $3,832.44, a PE ratio of 25.24, a PEG ratio of 3.65 and a beta of 0.61.

Southwest Gas Corporation (NYSE:SWX) last released its earnings results on Monday, August 7th. The utilities provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. Southwest Gas Corporation had a return on equity of 9.09% and a net margin of 6.46%. The company had revenue of $560.50 million during the quarter, compared to analyst estimates of $564.84 million. During the same quarter in the previous year, the company posted $0.19 EPS. Southwest Gas Corporation’s revenue for the quarter was up 2.3% on a year-over-year basis. analysts expect that Southwest Gas Corporation will post 3.42 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Tuesday, November 14th. Southwest Gas Corporation’s payout ratio is 61.11%.

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In other Southwest Gas Corporation news, SVP Karen S. Haller sold 1,300 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $80.95, for a total transaction of $105,235.00. Following the completion of the transaction, the senior vice president now owns 26,639 shares of the company’s stock, valued at approximately $2,156,427.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kenneth J. Kenny sold 600 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $80.90, for a total value of $48,540.00. Following the transaction, the vice president now directly owns 17,137 shares of the company’s stock, valued at approximately $1,386,383.30. The disclosure for this sale can be found here. Corporate insiders own 0.99% of the company’s stock.

A number of research firms have recently weighed in on SWX. BidaskClub lowered Southwest Gas Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Jefferies Group LLC raised Southwest Gas Corporation from an “underperform” rating to a “hold” rating and boosted their target price for the company from $68.00 to $70.00 in a research note on Wednesday, July 12th. KeyCorp reissued a “hold” rating on shares of Southwest Gas Corporation in a research note on Friday, October 20th. Finally, Zacks Investment Research raised Southwest Gas Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $78.00.

About Southwest Gas Corporation

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 Corporation (NYSE:SWX)

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