Cubist Systematic Strategies LLC lifted its position in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,372 shares of the utilities provider’s stock after acquiring an additional 3,974 shares during the quarter. Cubist Systematic Strategies LLC owned 0.19% of Southwest Gas worth $7,378,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of SWX. International Assets Investment Management LLC raised its holdings in Southwest Gas by 100.0% in the 1st quarter. International Assets Investment Management LLC now owns 720 shares of the utilities provider’s stock valued at $47,000 after acquiring an additional 360 shares during the last quarter. Parallel Advisors LLC boosted its position in Southwest Gas by 31.7% in the 1st quarter. Parallel Advisors LLC now owns 897 shares of the utilities provider’s stock valued at $62,000 after buying an additional 216 shares during the period. Schroder Investment Management Group purchased a new stake in shares of Southwest Gas during the 4th quarter worth $66,000. Whittier Trust Co. purchased a new stake in shares of Southwest Gas during the 1st quarter worth $69,000. Finally, Captrust Financial Advisors lifted its position in Southwest Gas by 116.9% in the first quarter. Captrust Financial Advisors now owns 1,698 shares of the utilities provider’s stock valued at $117,000 after acquiring an additional 915 shares during the last quarter. 83.38% of the stock is currently owned by institutional investors and hedge funds.
In other Southwest Gas news, SVP Eric Debonis sold 2,800 shares of Southwest Gas stock in a transaction that occurred on Monday, May 10th. The shares were sold at an average price of $71.84, for a total value of $201,152.00. Following the completion of the sale, the senior vice president now directly owns 14,362 shares in the company, valued at $1,031,766.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.79% of the stock is owned by insiders.
Southwest Gas (NYSE:SWX) last announced its quarterly earnings data on Thursday, May 6th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.11. Southwest Gas had a net margin of 8.27% and a return on equity of 10.38%. The company had revenue of $885.91 million for the quarter, compared to analysts’ expectations of $570.60 million. During the same quarter in the previous year, the company posted $1.31 EPS. The business’s revenue was up 5.9% compared to the same quarter last year. On average, analysts expect that Southwest Gas Holdings, Inc. will post 4.07 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 1st. Investors of record on Monday, August 16th will be issued a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Friday, August 13th. Southwest Gas’s dividend payout ratio is currently 57.49%.
A number of research analysts have commented on the stock. Williams Capital restated a “buy” rating on shares of Southwest Gas in a research note on Monday, April 26th. Bank of America raised shares of Southwest Gas from an “underperform” rating to a “neutral” rating in a report on Wednesday, June 30th. Zacks Investment Research downgraded shares of Southwest Gas from a “buy” rating to a “hold” rating in a research note on Saturday, July 3rd. Finally, Wells Fargo & Company reduced their price objective on shares of Southwest Gas from $77.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 30th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $67.60.
Southwest Gas Profile
Southwest Gas Holdings, Inc, through its subsidiaries, purchases, distributes, and transports natural gas in Arizona, Nevada, and California. The company operates in two segments, Natural Gas Operations and Utility Infrastructure Services. As of December 31, 2020, it had 2,123,000 residential, commercial, industrial, and other natural gas customers.
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