Shell Asset Management Co. maintained its position in shares of Southwest Gas Corporation (NYSE:SWX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,099 shares of the utilities provider’s stock at the end of the second quarter. Shell Asset Management Co. owned approximately 0.10% of Southwest Gas Corporation worth $3,441,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. State Treasurer State of Michigan boosted its stake in shares of Southwest Gas Corporation by 1.0% in the first quarter. State Treasurer State of Michigan now owns 19,300 shares of the utilities provider’s stock valued at $1,600,000 after buying an additional 200 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in Southwest Gas Corporation by 3.9% in the first quarter. Great West Life Assurance Co. Can now owns 27,975 shares of the utilities provider’s stock worth $2,319,000 after buying an additional 1,053 shares during the last quarter. Bowling Portfolio Management LLC boosted its stake in Southwest Gas Corporation by 5.5% in the first quarter. Bowling Portfolio Management LLC now owns 9,456 shares of the utilities provider’s stock worth $784,000 after buying an additional 495 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Southwest Gas Corporation during the first quarter worth approximately $5,273,000. Finally, Adams Diversified Equity Fund Inc. boosted its stake in Southwest Gas Corporation by 2.8% in the first quarter. Adams Diversified Equity Fund Inc. now owns 14,700 shares of the utilities provider’s stock worth $1,219,000 after buying an additional 400 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.
Shares of Southwest Gas Corporation (NYSE SWX) opened at 78.39 on Friday. 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 $3.73 billion, a PE ratio of 24.27 and a beta of 0.60. The firm’s 50 day moving average is $78.84 and its 200-day moving average is $80.70.
Southwest Gas Corporation (NYSE:SWX) last released its earnings results on Monday, August 7th. The utilities provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.09. Southwest Gas Corporation had a return on equity of 9.09% and a net margin of 6.46%. The firm had revenue of $560.50 million for the quarter, compared to analyst estimates of $564.84 million. During the same quarter in the prior year, the firm posted $0.19 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts expect that Southwest Gas Corporation will post $3.42 EPS for the current fiscal year.
SWX has been the subject of a number of research analyst reports. Jefferies Group LLC reiterated a “sell” rating and issued a $68.00 price objective on shares of Southwest Gas Corporation in a research note on Tuesday, May 9th. Zacks Investment Research upgraded shares of Southwest Gas Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, April 22nd. Finally, BidaskClub upgraded shares of Southwest Gas Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Southwest Gas Corporation currently has a consensus rating of “Hold” and a consensus target price of $80.50.
In related news, SVP Karen S. Haller sold 1,300 shares of the stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $80.95, for a total transaction of $105,235.00. Following the completion of the transaction, the senior vice president now directly owns 26,639 shares in the company, valued at $2,156,427.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Kenneth J. Kenny sold 600 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $80.90, for a total value of $48,540.00. Following the completion of the transaction, the vice president now owns 17,137 shares of the company’s stock, valued at $1,386,383.30. The disclosure for this sale can be found here. 1.34% of the stock is owned by corporate insiders.
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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