BlueCrest Capital Management Ltd Takes Position in Southwest Gas Corporation (SWX)

BlueCrest Capital Management Ltd purchased a new position in Southwest Gas Corporation (NYSE:SWX) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 120,277 shares of the utilities provider’s stock, valued at approximately $9,972,000. BlueCrest Capital Management Ltd owned approximately 0.25% of Southwest Gas Corporation at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Southwest Gas Corporation by 5,500.3% in the first quarter. BlackRock Inc. now owns 5,796,013 shares of the utilities provider’s stock worth $480,546,000 after buying an additional 5,692,518 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Southwest Gas Corporation by 19.0% in the first quarter. Vanguard Group Inc. now owns 5,332,229 shares of the utilities provider’s stock worth $442,095,000 after buying an additional 849,583 shares during the last quarter. State Street Corp raised its stake in shares of Southwest Gas Corporation by 0.6% in the first quarter. State Street Corp now owns 1,597,272 shares of the utilities provider’s stock worth $132,435,000 after buying an additional 9,239 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Southwest Gas Corporation by 1.6% in the first quarter. Ameriprise Financial Inc. now owns 731,818 shares of the utilities provider’s stock worth $60,677,000 after buying an additional 11,797 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Southwest Gas Corporation by 5.7% in the first quarter. Bank of New York Mellon Corp now owns 657,969 shares of the utilities provider’s stock worth $54,553,000 after buying an additional 35,404 shares during the last quarter. 77.87% of the stock is currently owned by hedge funds and other institutional investors.

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

Southwest Gas Corporation (NYSE SWX) traded down 1.70% during midday trading on Monday, reaching $76.49. The company had a trading volume of 220,712 shares. Southwest Gas Corporation has a 52-week low of $64.26 and a 52-week high of $86.65. The company has a market cap of $3.64 billion, a PE ratio of 25.06 and a beta of 0.58. The company’s 50-day moving average is $79.58 and its 200 day moving average is $80.37.

Southwest Gas Corporation (NYSE:SWX) last announced its earnings results on Monday, May 8th. The utilities provider reported $1.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.63 by $0.18. The company had revenue of $654.74 million for the quarter, compared to analyst estimates of $741.80 million. Southwest Gas Corporation had a return on equity of 8.65% and a net margin of 6.12%. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.58 earnings per share. On average, equities research analysts forecast that Southwest Gas Corporation will post $3.38 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be given a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Friday, August 11th. Southwest Gas Corporation’s payout ratio is 64.71%.

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A number of brokerages have commented on SWX. Zacks Investment Research lowered Southwest Gas Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th. Jefferies Group LLC restated a “sell” rating and set a $68.00 price objective on shares of Southwest Gas Corporation in a research report on Friday, March 31st. Finally, Bank of America Corporation lowered Southwest Gas Corporation from a “buy” rating to a “neutral” rating and set a $88.00 price objective for the company. in a research report on Monday, March 6th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Southwest Gas Corporation has a consensus rating of “Hold” and a consensus target price of $80.75.

In related news, SVP Eric Debonis sold 350 shares of the business’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $80.02, for a total value of $28,007.00. Following the completion of the sale, the senior vice president now directly owns 20,057 shares of the company’s stock, valued at approximately $1,604,961.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.34% of the company’s stock.

Southwest Gas Corporation Company Profile

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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