Catalyst Capital Advisors LLC Makes New $483,000 Investment in Southwest Gas Holdings Inc (NYSE:SWX)

Catalyst Capital Advisors LLC purchased a new position in Southwest Gas Holdings Inc (NYSE:SWX) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,300 shares of the utilities provider’s stock, valued at approximately $483,000.

A number of other institutional investors also recently made changes to their positions in SWX. Retirement Systems of Alabama increased its position in Southwest Gas by 0.5% in the 2nd quarter. Retirement Systems of Alabama now owns 69,452 shares of the utilities provider’s stock valued at $6,224,000 after acquiring an additional 354 shares in the last quarter. First National Bank of Omaha increased its position in Southwest Gas by 12.6% in the 2nd quarter. First National Bank of Omaha now owns 52,988 shares of the utilities provider’s stock valued at $4,749,000 after acquiring an additional 5,934 shares in the last quarter. Tributary Capital Management LLC increased its position in Southwest Gas by 6.5% in the 2nd quarter. Tributary Capital Management LLC now owns 4,900 shares of the utilities provider’s stock valued at $439,000 after acquiring an additional 300 shares in the last quarter. 6 Meridian increased its position in Southwest Gas by 2.1% in the 2nd quarter. 6 Meridian now owns 6,175 shares of the utilities provider’s stock valued at $553,000 after acquiring an additional 127 shares in the last quarter. Finally, First Hawaiian Bank increased its position in Southwest Gas by 10.7% in the 2nd quarter. First Hawaiian Bank now owns 11,310 shares of the utilities provider’s stock valued at $1,014,000 after acquiring an additional 1,090 shares in the last quarter. 83.35% of the stock is currently owned by institutional investors and hedge funds.

In other news, VP Kenneth J. Kenny sold 500 shares of Southwest Gas stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $90.26, for a total transaction of $45,130.00. Following the completion of the sale, the vice president now owns 16,121 shares in the company, valued at approximately $1,455,081.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.83% of the stock is owned by insiders.

Shares of NYSE:SWX opened at $75.74 on Wednesday. Southwest Gas Holdings Inc has a one year low of $72.68 and a one year high of $92.94. The company has a 50 day moving average of $88.00 and a 200-day moving average of $88.09. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 20.58, a P/E/G ratio of 2.91 and a beta of 0.22.

Southwest Gas (NYSE:SWX) last issued its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.10 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.16). Southwest Gas had a return on equity of 8.11% and a net margin of 6.26%. The business had revenue of $725.23 million for the quarter, compared to analyst estimates of $229.10 million. During the same quarter in the prior year, the firm earned $0.25 EPS. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that Southwest Gas Holdings Inc will post 3.7 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Thursday, November 14th. Southwest Gas’s dividend payout ratio is 59.24%.

Several equities research analysts have weighed in on SWX shares. UBS Group set a $91.00 price objective on shares of Southwest Gas and gave the company a “hold” rating in a research report on Friday, July 19th. Zacks Investment Research cut shares of Southwest Gas from a “buy” rating to a “hold” rating in a research report on Saturday, August 17th. JPMorgan Chase & Co. started coverage on shares of Southwest Gas in a research report on Wednesday, July 17th. They issued an “overweight” rating and a $93.00 price objective for the company. ValuEngine cut shares of Southwest Gas from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Co set a $93.00 price target on shares of Southwest Gas and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Southwest Gas has an average rating of “Hold” and an average price target of $94.60.

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.

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

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