Peregrine Capital Management LLC Sells 363 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

Peregrine Capital Management LLC cut its position in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 0.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,219 shares of the utilities provider’s stock after selling 363 shares during the period. Peregrine Capital Management LLC owned approximately 0.15% of Southwest Gas worth $7,405,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Southwest Gas by 154.8% during the second quarter. GAMMA Investing LLC now owns 428 shares of the utilities provider’s stock valued at $30,000 after buying an additional 260 shares during the last quarter. Blue Trust Inc. boosted its stake in Southwest Gas by 96.6% during the second quarter. Blue Trust Inc. now owns 574 shares of the utilities provider’s stock valued at $44,000 after buying an additional 282 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Southwest Gas by 461.9% during the fourth quarter. Jones Financial Companies Lllp now owns 1,371 shares of the utilities provider’s stock valued at $87,000 after buying an additional 1,127 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Southwest Gas during the first quarter valued at approximately $115,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in shares of Southwest Gas in the 1st quarter valued at approximately $202,000. 92.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SWX has been the subject of several analyst reports. Wells Fargo & Company lowered their price objective on Southwest Gas from $77.00 to $74.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price target on Southwest Gas from $78.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th.

Insiders Place Their Bets

In other Southwest Gas news, CFO Robert J. Stefani sold 767 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $73.14, for a total transaction of $56,098.38. Following the transaction, the chief financial officer now directly owns 43,438 shares in the company, valued at approximately $3,177,055.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is currently owned by company insiders.

Southwest Gas Trading Up 1.5 %

Shares of NYSE SWX traded up $1.06 during midday trading on Friday, hitting $72.72. The company’s stock had a trading volume of 336,095 shares, compared to its average volume of 404,803. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.38. The business’s 50 day moving average is $72.31 and its two-hundred day moving average is $72.44. Southwest Gas Holdings, Inc. has a 12-month low of $56.17 and a 12-month high of $78.46. The firm has a market cap of $5.21 billion, a P/E ratio of 26.88, a price-to-earnings-growth ratio of 3.61 and a beta of 0.37.

Southwest Gas (NYSE:SWX) last issued its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.17). Southwest Gas had a return on equity of 6.18% and a net margin of 3.44%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s quarterly revenue was down 8.6% compared to the same quarter last year. As a group, equities research analysts expect that Southwest Gas Holdings, Inc. will post 3.29 EPS for the current year.

Southwest Gas Profile

Southwest Gas Holdings, Inc, through its subsidiaries, distributes and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Distribution, Utility Infrastructure Services, and Pipeline and Storage segments. It also provides trenching, installation, and replacement of underground pipes, as well as maintenance services for energy distribution systems.