Strs Ohio Raises Stake in Southwest Gas Corporation (SWX)
Strs Ohio increased its stake in Southwest Gas Corporation (NYSE:SWX) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,300 shares of the utilities provider’s stock after buying an additional 800 shares during the period. Strs Ohio’s holdings in Southwest Gas Corporation were worth $1,556,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of SWX. Americafirst Capital Management LLC bought a new position in Southwest Gas Corporation during the first quarter valued at about $1,875,000. Oxford Asset Management bought a new position in Southwest Gas Corporation during the first quarter valued at about $1,164,000. Bank of America Corp DE increased its position in Southwest Gas Corporation by 74.8% in the first quarter. Bank of America Corp DE now owns 635,225 shares of the utilities provider’s stock valued at $52,667,000 after buying an additional 271,826 shares during the last quarter. M&T Bank Corp increased its position in Southwest Gas Corporation by 5.5% in the first quarter. M&T Bank Corp now owns 3,310 shares of the utilities provider’s stock valued at $275,000 after buying an additional 173 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Southwest Gas Corporation by 34.0% in the first quarter. AQR Capital Management LLC now owns 725,020 shares of the utilities provider’s stock valued at $60,111,000 after buying an additional 184,040 shares during the last quarter. Institutional investors own 78.55% of the company’s stock.
Shares of Southwest Gas Corporation (SWX) opened at 81.15 on Friday. Southwest Gas Corporation has a 12 month low of $64.26 and a 12 month high of $86.65. The stock’s 50 day moving average is $77.91 and its 200 day moving average is $80.68. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 25.12 and a beta of 0.60.
Southwest Gas Corporation (NYSE:SWX) last released its quarterly earnings results on Monday, August 7th. The utilities provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. Southwest Gas Corporation had a net margin of 6.46% and a return on equity of 9.09%. The business had revenue of $560.50 million for the quarter, compared to analyst estimates of $564.84 million. During the same period last year, the firm earned $0.19 earnings per share. Southwest Gas Corporation’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts forecast that Southwest Gas Corporation will post $3.38 earnings per share for the current fiscal year.
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Several research analysts have recently issued reports on SWX shares. Zacks Investment Research upgraded shares of Southwest Gas Corporation from a “sell” rating to a “hold” rating in a report on Friday, April 14th. BidaskClub lowered shares of Southwest Gas Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Finally, Jefferies Group LLC reiterated a “sell” rating and set a $68.00 target price on shares of Southwest Gas Corporation in a research report on Tuesday, May 9th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $80.50.
In other Southwest Gas Corporation news, VP Kenneth J. Kenny sold 600 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $80.90, for a total transaction of $48,540.00. Following the sale, the vice president now directly owns 17,137 shares in the company, valued at $1,386,383.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Karen S. Haller sold 1,300 shares of the stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $80.95, for a total transaction of $105,235.00. Following the sale, the senior vice president now owns 26,639 shares in the company, valued at $2,156,427.05. The disclosure for this sale can be found here. Corporate insiders own 1.34% of the company’s stock.
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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