Victory Capital Management Inc. Cuts Stock Holdings in Southwest Gas Holdings Inc (NYSE:SWX)

Victory Capital Management Inc. trimmed its position in shares of Southwest Gas Holdings Inc (NYSE:SWX) by 21.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 690,497 shares of the utilities provider’s stock after selling 190,670 shares during the quarter. Victory Capital Management Inc. owned approximately 1.27% of Southwest Gas worth $61,882,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. TCI Wealth Advisors Inc. increased its holdings in shares of Southwest Gas by 39.4% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 407 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 115 shares in the last quarter. NEXT Financial Group Inc purchased a new position in shares of Southwest Gas during the 2nd quarter valued at approximately $47,000. Point72 Asset Management L.P. purchased a new position in shares of Southwest Gas during the 2nd quarter valued at approximately $54,000. Krane Funds Advisors LLC purchased a new position in shares of Southwest Gas during the 2nd quarter valued at approximately $60,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Southwest Gas by 6,708.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 817 shares of the utilities provider’s stock valued at $73,000 after purchasing an additional 805 shares in the last quarter. 83.26% of the stock is owned by hedge funds and other institutional investors.

In related news, VP Kenneth J. Kenny sold 500 shares of Southwest Gas stock in a transaction on Monday, August 19th. The shares were sold at an average price of $90.26, for a total value of $45,130.00. Following the sale, the vice president now owns 16,121 shares of the company’s stock, valued at approximately $1,455,081.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.83% of the stock is currently owned by company insiders.



SWX has been the subject of several recent research reports. Zacks Investment Research lowered shares of Southwest Gas from a “buy” rating to a “hold” rating in a report on Saturday, August 17th. Wells Fargo & Co set a $93.00 target price on shares of Southwest Gas and gave the company a “hold” rating in a report on Tuesday, September 3rd. UBS Group set a $91.00 target price on shares of Southwest Gas and gave the company a “hold” rating in a report on Friday, July 19th. ValuEngine cut shares of Southwest Gas from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Williams Capital raised shares of Southwest Gas from a “hold” rating to a “buy” rating and lifted their price target for the company from $81.00 to $96.00 in a research note on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $89.86.

Southwest Gas stock traded down $0.58 during trading on Tuesday, reaching $89.93. The company had a trading volume of 11,168 shares, compared to its average volume of 250,056. The firm’s 50-day simple moving average is $89.91 and its 200 day simple moving average is $86.83. Southwest Gas Holdings Inc has a 1-year low of $72.68 and a 1-year high of $92.94. The firm has a market capitalization of $4.97 billion, a PE ratio of 24.57, a price-to-earnings-growth ratio of 3.80 and a beta of 0.30. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.04 and a current ratio of 1.04.

Southwest Gas (NYSE:SWX) last released its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Southwest Gas had a net margin of 6.61% and a return on equity of 8.86%. The company had revenue of $713.01 million during the quarter, compared to analyst estimates of $289.70 million. During the same period in the prior year, the business posted $0.44 EPS. Southwest Gas’s revenue was up 6.3% compared to the same quarter last year. Analysts anticipate that Southwest Gas Holdings Inc will post 3.9 EPS for the current year.

Southwest Gas Company Profile

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.

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

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