BlueCrest Capital Management Ltd bought a new position in shares of Southwest Gas Corporation (NYSE:SWX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 120,277 shares of the utilities provider’s stock, valued at approximately $9,972,000. BlueCrest Capital Management Ltd owned 0.25% of Southwest Gas Corporation as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the stock. AQR Capital Management LLC boosted its stake in shares of Southwest Gas Corporation by 67.7% in the fourth quarter. AQR Capital Management LLC now owns 540,980 shares of the utilities provider’s stock worth $41,450,000 after buying an additional 218,433 shares during the last quarter. Guggenheim Capital LLC boosted its stake in shares of Southwest Gas Corporation by 205.8% in the fourth quarter. Guggenheim Capital LLC now owns 127,282 shares of the utilities provider’s stock worth $9,752,000 after buying an additional 85,664 shares during the last quarter. Ellington Management Group LLC purchased a new stake in shares of Southwest Gas Corporation during the fourth quarter worth about $705,000. First Republic Investment Management Inc. purchased a new stake in shares of Southwest Gas Corporation during the fourth quarter worth about $203,000. Finally, GSA Capital Partners LLP boosted its stake in shares of Southwest Gas Corporation by 97.2% in the fourth quarter. GSA Capital Partners LLP now owns 6,518 shares of the utilities provider’s stock worth $499,000 after buying an additional 3,212 shares during the last quarter. 77.88% of the stock is currently owned by institutional investors.
Shares of Southwest Gas Corporation (NYSE:SWX) traded up 0.91% on Friday, reaching $73.98. 251,503 shares of the company were exchanged. The company’s 50 day moving average is $77.28 and its 200 day moving average is $80.34. Southwest Gas Corporation has a 12-month low of $64.26 and a 12-month high of $86.65. The firm has a market capitalization of $3.52 billion, a PE ratio of 24.24 and a beta of 0.59.
Southwest Gas Corporation (NYSE:SWX) last announced its quarterly earnings data on Monday, May 8th. The utilities provider reported $1.45 EPS for the quarter, missing the consensus estimate of $1.63 by $0.18. The company had revenue of $654.74 million during the quarter, compared to the consensus estimate of $741.80 million. Southwest Gas Corporation had a return on equity of 8.65% and a net margin of 6.12%. The business’s revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.58 EPS. Analysts forecast that Southwest Gas Corporation will post $3.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be given a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 2.68%. The ex-dividend date is Friday, August 11th. Southwest Gas Corporation’s dividend payout ratio is 64.71%.
A number of brokerages have recently issued reports on SWX. Zacks Investment Research raised shares of Southwest Gas Corporation from a “sell” rating to a “hold” rating in a report on Friday, April 14th. Jefferies Group LLC reiterated a “sell” rating and issued a $68.00 price target on shares of Southwest Gas Corporation in a research note on Friday, March 31st. Finally, BidaskClub lowered shares of Southwest Gas Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $80.75.
In other Southwest Gas Corporation news, SVP Eric Debonis sold 350 shares of Southwest Gas Corporation stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $80.02, for a total value of $28,007.00. Following the sale, the senior vice president now owns 20,057 shares of the company’s stock, valued at $1,604,961.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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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