Dimensional Fund Advisors LP boosted its stake in shares of Southwest Gas Corp. (NYSE:SWX) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 907,803 shares of the company’s stock after buying an additional 28,811 shares during the period. Dimensional Fund Advisors LP owned about 1.91% of Southwest Gas Corp. worth $71,450,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Fund Advisors raised its stake in shares of Southwest Gas Corp. by 2.2% in the first quarter. BlackRock Fund Advisors now owns 3,069,954 shares of the company’s stock valued at $202,156,000 after buying an additional 66,558 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Southwest Gas Corp. by 4.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,233,773 shares of the company’s stock valued at $81,244,000 after buying an additional 47,840 shares in the last quarter. Brookfield Asset Management Inc. raised its stake in shares of Southwest Gas Corp. by 134.9% in the first quarter. Brookfield Asset Management Inc. now owns 916,110 shares of the company’s stock valued at $60,326,000 after buying an additional 526,087 shares in the last quarter. Teachers Advisors Inc. raised its stake in shares of Southwest Gas Corp. by 14.0% in the first quarter. Teachers Advisors Inc. now owns 693,833 shares of the company’s stock valued at $45,689,000 after buying an additional 85,072 shares in the last quarter. Finally, Frontier Capital Management Co. LLC raised its stake in shares of Southwest Gas Corp. by 2.9% in the second quarter. Frontier Capital Management Co. LLC now owns 478,712 shares of the company’s stock valued at $37,679,000 after buying an additional 13,643 shares in the last quarter. 80.16% of the stock is owned by hedge funds and other institutional investors.
Shares of Southwest Gas Corp. (NYSE:SWX) traded down 1.34% during trading on Wednesday, hitting $71.25. The stock had a trading volume of 23,658 shares. Southwest Gas Corp. has a one year low of $50.53 and a one year high of $79.58. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 23.27 and a beta of 0.52. The stock’s 50-day moving average price is $71.35 and its 200 day moving average price is $70.83.
Southwest Gas Corp. (NYSE:SWX) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The business earned $547.70 million during the quarter, compared to analyst estimates of $559.21 million. Southwest Gas Corp. had a net margin of 5.90% and a return on equity of 9.07%. Southwest Gas Corp.’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 earnings per share. On average, equities analysts forecast that Southwest Gas Corp. will post $3.17 EPS for the current year.
SWX has been the subject of several recent research reports. Zacks Investment Research raised Southwest Gas Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, September 20th. Jefferies Group lowered Southwest Gas Corp. from a “hold” rating to an “underperform” rating and set a $64.00 target price for the company. in a report on Monday, July 25th. Citigroup Inc. upped their target price on Southwest Gas Corp. from $62.00 to $79.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. Finally, Argus reaffirmed a “hold” rating on shares of Southwest Gas Corp. in a report on Thursday, September 8th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock currently has an average rating of “Hold” and an average target price of $71.25.
In other Southwest Gas Corp. news, CFO Roy R. Centrella sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $71.54, for a total value of $71,540.00. Following the transaction, the chief financial officer now directly owns 31,618 shares of the company’s stock, valued at $2,261,951.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Eric Debonis sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $72.99, for a total transaction of $43,794.00. Following the completion of the transaction, the senior vice president now directly owns 19,694 shares in the company, valued at $1,437,465.06. The disclosure for this sale can be found here. 1.34% of the stock is currently owned by corporate insiders.
Southwest Gas Corp. 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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