Quadrant Capital Group LLC lifted its position in shares of Southwest Gas Holdings Inc (NYSE:SWX) by 189.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 400 shares of the utilities provider’s stock after acquiring an additional 262 shares during the period. Quadrant Capital Group LLC’s holdings in Southwest Gas were worth $32,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. raised its position in shares of Southwest Gas by 6.4% during the 4th quarter. BlackRock Inc. now owns 6,235,560 shares of the utilities provider’s stock valued at $477,022,000 after acquiring an additional 374,766 shares in the last quarter. Vanguard Group Inc raised its position in shares of Southwest Gas by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 4,846,087 shares of the utilities provider’s stock valued at $382,987,000 after acquiring an additional 71,500 shares in the last quarter. Northern Trust Corp raised its position in shares of Southwest Gas by 2.5% during the 4th quarter. Northern Trust Corp now owns 1,470,306 shares of the utilities provider’s stock valued at $112,479,000 after acquiring an additional 35,503 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Southwest Gas by 0.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,140,088 shares of the utilities provider’s stock valued at $87,217,000 after acquiring an additional 9,075 shares in the last quarter. Finally, FMR LLC raised its position in shares of Southwest Gas by 124.5% during the 4th quarter. FMR LLC now owns 1,059,753 shares of the utilities provider’s stock valued at $81,072,000 after acquiring an additional 587,738 shares in the last quarter. 85.16% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have weighed in on SWX. ValuEngine raised Southwest Gas from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th. Zacks Investment Research raised Southwest Gas from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research report on Wednesday, May 1st. Williams Capital reaffirmed a “hold” rating on shares of Southwest Gas in a research report on Monday, March 18th. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of Southwest Gas in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Southwest Gas has an average rating of “Hold” and an average target price of $83.83.
Southwest Gas (NYSE:SWX) last issued its earnings results on Tuesday, May 7th. The utilities provider reported $1.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.19. Southwest Gas had a return on equity of 9.34% and a net margin of 6.69%. The firm had revenue of $807.10 million for the quarter, compared to analyst estimates of $516.97 million. During the same period last year, the company earned $1.63 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Sell-side analysts anticipate that Southwest Gas Holdings Inc will post 3.89 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be given a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Wednesday, August 14th. Southwest Gas’s dividend payout ratio is presently 56.52%.
In other news, Director Thomas E. Chestnut sold 1,700 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $83.54, for a total transaction of $142,018.00. Following the transaction, the director now directly owns 27,323 shares of the company’s stock, valued at $2,282,563.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Eric Debonis sold 1,400 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $83.68, for a total value of $117,152.00. Following the transaction, the senior vice president now directly owns 12,464 shares in the company, valued at $1,042,987.52. The disclosure for this sale can be found here. 0.83% of the stock is owned by company insiders.
COPYRIGHT VIOLATION WARNING: “Quadrant Capital Group LLC Boosts Position in Southwest Gas Holdings Inc (SWX)” was originally reported by Dakota Financial News and is the sole property of of Dakota Financial News. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The original version of this piece can be read at https://dakotafinancialnews.com/2019/05/14/quadrant-capital-group-llc-boosts-position-in-southwest-gas-holdings-inc-swx.html.
About Southwest Gas
Southwest Gas Holdings, Inc, through its subsidiaries, purchases, distributes, and transports natural gas in Arizona, Nevada, and California. The company operates through two segments, Natural Gas Operations and Utility Infrastructure Services. As of December 31, 2018, it had 2,047,000 residential, commercial, industrial, and other natural gas customers.
Featured Article: Asset Allocation and Your Retirement
Want to see what other hedge funds are holding SWX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southwest Gas Holdings Inc (NYSE:SWX).
Receive News & Ratings for Southwest Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Gas and related companies with MarketBeat.com's FREE daily email newsletter.