Pacer Advisors Inc. increased its position in shares of Southwest Gas Corporation (NYSE:SWX) by 9.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,256 shares of the company’s stock after buying an additional 360 shares during the period. Pacer Advisors Inc.’s holdings in Southwest Gas Corporation were worth $297,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in Southwest Gas Corporation by 3.9% in the third quarter. Principal Financial Group Inc. now owns 495,981 shares of the company’s stock worth $34,648,000 after buying an additional 18,703 shares in the last quarter. Northern Trust Corp increased its position in Southwest Gas Corporation by 13.4% in the third quarter. Northern Trust Corp now owns 1,382,682 shares of the company’s stock worth $96,594,000 after buying an additional 163,378 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in Southwest Gas Corporation by 20.8% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,802 shares of the company’s stock worth $475,000 after buying an additional 1,172 shares in the last quarter. Matarin Capital Management LLC bought a new position in Southwest Gas Corporation during the third quarter worth $721,000. Finally, Emerald Acquisition Ltd. increased its position in Southwest Gas Corporation by 103.7% in the third quarter. Emerald Acquisition Ltd. now owns 28,216 shares of the company’s stock worth $1,971,000 after buying an additional 14,361 shares in the last quarter. Hedge funds and other institutional investors own 77.74% of the company’s stock.
Southwest Gas Corporation (NYSE:SWX) traded down 0.90% during mid-day trading on Friday, reaching $79.11. The company had a trading volume of 167,604 shares. The stock has a 50-day moving average of $76.97 and a 200 day moving average of $73.42. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 24.70 and a beta of 0.47. Southwest Gas Corporation has a 12-month low of $57.40 and a 12-month high of $80.44.
Southwest Gas Corporation (NYSE:SWX) last posted its quarterly earnings results on Monday, November 7th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Southwest Gas Corporation had a return on equity of 9.26% and a net margin of 6.11%. The business had revenue of $539.97 million for the quarter, compared to the consensus estimate of $528.36 million. During the same period in the prior year, the business earned ($0.03) EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, analysts expect that Southwest Gas Corporation will post $3.17 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Wednesday, February 15th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Monday, February 13th. Southwest Gas Corporation’s dividend payout ratio (DPR) is currently 56.25%.
Several brokerages have recently commented on SWX. Zacks Investment Research downgraded Southwest Gas Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, January 11th. Jefferies Group LLC downgraded Southwest Gas Corporation from a “hold” rating to an “underperform” rating and set a $65.00 target price for the company. in a research note on Thursday, January 12th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $75.50.
In related news, VP Gregory J. Peterson sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $75.19, for a total transaction of $45,114.00. Following the transaction, the vice president now directly owns 14,246 shares of the company’s stock, valued at approximately $1,071,156.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 1,745 shares of company stock worth $127,573. 1.34% of the stock is owned by company insiders.
Southwest Gas Corporation Company Profile
Southwest Gas Corporation is engaged in the business of purchasing, distributing and transporting natural gas in Arizona, Nevada and California. 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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