Southwest Gas Holdings Inc (SWX) Holdings Boosted by Verition Fund Management LLC
Verition Fund Management LLC raised its stake in shares of Southwest Gas Holdings Inc (NYSE:SWX) by 9.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,295 shares of the utilities provider’s stock after purchasing an additional 640 shares during the period. Verition Fund Management LLC’s holdings in Southwest Gas were worth $556,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Southwest Gas in the second quarter worth about $62,438,000. Millennium Management LLC lifted its stake in shares of Southwest Gas by 130.6% in the first quarter. Millennium Management LLC now owns 671,315 shares of the utilities provider’s stock worth $45,401,000 after buying an additional 380,179 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Southwest Gas in the second quarter worth about $20,463,000. Macquarie Group Ltd. lifted its stake in shares of Southwest Gas by 11.1% in the second quarter. Macquarie Group Ltd. now owns 2,021,062 shares of the utilities provider’s stock worth $154,147,000 after buying an additional 201,626 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in shares of Southwest Gas by 2.6% in the first quarter. BlackRock Inc. now owns 5,624,547 shares of the utilities provider’s stock worth $380,389,000 after buying an additional 142,761 shares in the last quarter. 83.26% of the stock is currently owned by institutional investors and hedge funds.
NYSE:SWX opened at $77.87 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $3.83 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 5.26 and a beta of 0.45. Southwest Gas Holdings Inc has a twelve month low of $62.53 and a twelve month high of $86.87.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 15th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.67%. Southwest Gas’s dividend payout ratio (DPR) is presently 57.46%.
In other Southwest Gas news, SVP Eric Debonis sold 700 shares of Southwest Gas stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $79.18, for a total transaction of $55,426.00. Following the transaction, the senior vice president now directly owns 12,954 shares of the company’s stock, valued at $1,025,697.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kenneth J. Kenny sold 500 shares of Southwest Gas stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $82.67, for a total transaction of $41,335.00. Following the transaction, the vice president now directly owns 15,509 shares in the company, valued at $1,282,129.03. The disclosure for this sale can be found here. Insiders have sold 1,500 shares of company stock worth $121,331 over the last ninety days. 0.99% of the stock is owned by insiders.
Separately, Bank of America downgraded shares of Southwest Gas from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $76.00 to $74.00 in a research note on Monday, July 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $76.67.
Southwest Gas Company Profile
Southwest Gas Holdings, Inc, through its subsidiaries, purchases, distributes, and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Operations and Construction Services segments. As of December 31, 2017, it had 2,015,000 residential, commercial, industrial, and other natural gas customers.
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