Exchange Traded Concepts LLC grew its stake in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 12.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,914 shares of the utilities provider's stock after buying an additional 14,388 shares during the period. Exchange Traded Concepts LLC owned 0.18% of Southwest Gas worth $9,287,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Inspire Investing LLC grew its stake in Southwest Gas by 98.2% during the third quarter. Inspire Investing LLC now owns 9,847 shares of the utilities provider's stock worth $726,000 after purchasing an additional 4,879 shares during the period. UMB Bank n.a. grew its stake in Southwest Gas by 67.2% during the third quarter. UMB Bank n.a. now owns 398 shares of the utilities provider's stock worth $29,000 after purchasing an additional 160 shares during the period. CWM LLC grew its stake in Southwest Gas by 47.2% during the third quarter. CWM LLC now owns 2,852 shares of the utilities provider's stock worth $210,000 after purchasing an additional 915 shares during the period. O Keefe Stevens Advisory Inc. acquired a new stake in Southwest Gas during the third quarter worth approximately $599,000. Finally, SG Americas Securities LLC grew its stake in Southwest Gas by 68.3% during the third quarter. SG Americas Securities LLC now owns 3,456 shares of the utilities provider's stock worth $255,000 after purchasing an additional 1,402 shares during the period. Institutional investors and hedge funds own 92.77% of the company's stock.
A number of equities research analysts have commented on SWX shares. Wells Fargo & Company raised their price objective on Southwest Gas from $74.00 to $78.00 and gave the company an "equal weight" rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. reduced their price objective on Southwest Gas from $78.00 to $70.00 and set a "neutral" rating for the company in a research note on Thursday, August 15th.
Get Our Latest Analysis on SWX
SWX stock opened at $74.33 on Monday. The stock's 50 day moving average is $72.21 and its 200-day moving average is $73.59. The firm has a market capitalization of $5.33 billion, a PE ratio of 29.50, a P/E/G ratio of 3.80 and a beta of 0.38. Southwest Gas Holdings, Inc. has a twelve month low of $56.17 and a twelve month high of $78.46. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.38.
Southwest Gas (NYSE:SWX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.17). The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. Southwest Gas had a return on equity of 6.18% and a net margin of 3.44%. The business's revenue was down 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 earnings per share. Sell-side analysts expect that Southwest Gas Holdings, Inc. will post 3.2 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, November 15th. This represents a $2.48 dividend on an annualized basis and a yield of 3.34%. Southwest Gas's dividend payout ratio (DPR) is currently 98.41%.
In other Southwest Gas news, CFO Robert J. Stefani sold 767 shares of the business's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $73.14, for a total value of $56,098.38. Following the sale, the chief financial officer now directly owns 43,438 shares in the company, valued at $3,177,055.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.39% of the company's stock.
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.
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