Fmr LLC lessened its holdings in Southwest Gas Holdings Inc (NYSE:SWX) by 5.8% during the second quarter, Holdings Channel reports. The institutional investor owned 597,825 shares of the utilities provider’s stock after selling 36,550 shares during the quarter. Fmr LLC’s holdings in Southwest Gas were worth $45,597,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. First Mercantile Trust Co. boosted its stake in shares of Southwest Gas by 51.9% in the 2nd quarter. First Mercantile Trust Co. now owns 2,050 shares of the utilities provider’s stock worth $156,000 after buying an additional 700 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Southwest Gas by 15.4% in the 1st quarter. Stifel Financial Corp now owns 5,898 shares of the utilities provider’s stock worth $403,000 after buying an additional 786 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Southwest Gas by 15.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,672 shares of the utilities provider’s stock worth $509,000 after buying an additional 914 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Southwest Gas by 3.1% in the 2nd quarter. Arizona State Retirement System now owns 33,572 shares of the utilities provider’s stock worth $2,561,000 after buying an additional 1,015 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. boosted its stake in shares of Southwest Gas by 13.0% in the 1st quarter. Cornercap Investment Counsel Inc. now owns 9,850 shares of the utilities provider’s stock worth $666,000 after buying an additional 1,130 shares during the last quarter. Hedge funds and other institutional investors own 83.26% of the company’s stock.

Southwest Gas stock opened at $78.04 on Wednesday. Southwest Gas Holdings Inc has a 12 month low of $62.53 and a 12 month high of $86.87. 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 company has a market capitalization of $3.90 billion, a P/E ratio of 21.56, a PEG ratio of 5.35 and a beta of 0.46.

Southwest Gas (NYSE:SWX) last posted its quarterly earnings data on Tuesday, August 7th. The utilities provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.33 by $0.11. Southwest Gas had a return on equity of 10.22% and a net margin of 7.51%. The business had revenue of $670.88 million for the quarter, compared to the consensus estimate of $611.60 million. analysts predict that Southwest Gas Holdings Inc will post 3.71 earnings per share for the current year.

In other Southwest Gas news, SVP Eric Debonis sold 700 shares of the business’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $79.18, for a total transaction of $55,426.00. Following the sale, the senior vice president now owns 12,954 shares of the company’s stock, valued at approximately $1,025,697.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kenneth J. Kenny sold 500 shares of the business’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $82.67, for a total transaction of $41,335.00. Following the sale, the vice president now directly owns 15,509 shares in the company, valued at approximately $1,282,129.03. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,500 shares of company stock worth $121,331. 1.00% of the stock is owned by company insiders.

A number of equities analysts have recently weighed in on SWX shares. Bank of America boosted their target price on Southwest Gas from $73.00 to $76.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 5th. Zacks Investment Research upgraded Southwest Gas from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a research note on Wednesday, May 30th. Finally, ValuEngine upgraded Southwest Gas from a “sell” rating to a “hold” rating in a research note on Tuesday, May 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $76.67.

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

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