Martingale Asset Management L P lessened its stake in Southwest Gas Holdings Inc (NYSE:SWX) by 3.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 103,034 shares of the utilities provider’s stock after selling 4,104 shares during the quarter. Martingale Asset Management L P owned approximately 0.21% of Southwest Gas worth $7,859,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the company. Raymond James & Associates bought a new position in shares of Southwest Gas during the fourth quarter valued at approximately $457,000. NJ State Employees Deferred Compensation Plan bought a new position in shares of Southwest Gas during the first quarter valued at approximately $541,000. Wells Fargo & Company MN raised its holdings in shares of Southwest Gas by 5.5% during the first quarter. Wells Fargo & Company MN now owns 161,416 shares of the utilities provider’s stock valued at $10,917,000 after acquiring an additional 8,425 shares in the last quarter. Virginia Retirement Systems ET AL raised its holdings in shares of Southwest Gas by 5.4% during the first quarter. Virginia Retirement Systems ET AL now owns 31,400 shares of the utilities provider’s stock valued at $2,124,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Southwest Gas by 17.7% during the first quarter. Victory Capital Management Inc. now owns 586,236 shares of the utilities provider’s stock valued at $39,647,000 after acquiring an additional 88,208 shares in the last quarter. Institutional investors and hedge funds own 82.32% of the company’s stock.

In other news, Director Thomas E. Chestnut sold 1,600 shares of the stock in a transaction on Tuesday, May 29th. The stock was sold at an average price of $74.80, for a total value of $119,680.00. Following the sale, the director now directly owns 26,529 shares of the company’s stock, valued at $1,984,369.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Eric Debonis sold 650 shares of the stock in a transaction on Wednesday, June 13th. The stock was sold at an average price of $73.07, for a total value of $47,495.50. Following the completion of the sale, the senior vice president now directly owns 12,979 shares in the company, valued at $948,375.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,950 shares of company stock worth $222,602. 0.99% of the stock is owned by insiders.

A number of brokerages recently commented on SWX. ValuEngine upgraded Southwest Gas from a “sell” rating to a “hold” rating in a report on Tuesday, May 29th. Zacks Investment Research raised Southwest Gas from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Wednesday, May 30th. Finally, Bank of America cut Southwest Gas from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $76.00 to $74.00 in a research note on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $76.67.

Shares of SWX stock opened at $78.43 on Friday. The firm has a market capitalization of $3.92 billion, a P/E ratio of 21.67, a PEG ratio of 5.37 and a beta of 0.50. Southwest Gas Holdings Inc has a twelve month low of $62.53 and a twelve month high of $86.87. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.05 and a current ratio of 1.05.

Southwest Gas (NYSE:SWX) last issued its quarterly earnings results on Tuesday, August 7th. The utilities provider reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.11. The company had revenue of $670.88 million for the quarter, compared to analysts’ expectations of $611.60 million. Southwest Gas had a return on equity of 10.22% and a net margin of 7.51%. equities analysts anticipate that Southwest Gas Holdings Inc will post 3.71 earnings per share for the current fiscal year.

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

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