Teacher Retirement System of Texas increased its stake in shares of Southwest Gas Corp. (NYSE:SWX) by 13.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 6,631 shares of the company’s stock after buying an additional 802 shares during the period. Teacher Retirement System of Texas’ holdings in Southwest Gas Corp. were worth $522,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Aperio Group LLC boosted its stake in Southwest Gas Corp. by 17.4% in the first quarter. Aperio Group LLC now owns 11,631 shares of the company’s stock valued at $766,000 after buying an additional 1,728 shares in the last quarter. Teachers Advisors Inc. boosted its stake in 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. Prudential Financial Inc. boosted its stake in Southwest Gas Corp. by 8.2% in the first quarter. Prudential Financial Inc. now owns 126,004 shares of the company’s stock valued at $8,298,000 after buying an additional 9,582 shares in the last quarter. BlackRock Inc. boosted its stake in Southwest Gas Corp. by 13.6% in the first quarter. BlackRock Inc. now owns 44,329 shares of the company’s stock valued at $2,920,000 after buying an additional 5,304 shares in the last quarter. Finally, BlackRock Group LTD boosted its stake in Southwest Gas Corp. by 7.6% in the first quarter. BlackRock Group LTD now owns 100,078 shares of the company’s stock valued at $6,590,000 after buying an additional 7,080 shares in the last quarter. 80.16% of the stock is owned by institutional investors.
Southwest Gas Corp. (NYSE:SWX) traded down 3.44% on Tuesday, hitting $66.17. The stock had a trading volume of 41,552 shares. Southwest Gas Corp. has a 1-year low of $50.53 and a 1-year high of $79.58. The stock has a 50 day moving average price of $70.98 and a 200 day moving average price of $71.00. The company has a market cap of $3.14 billion, a P/E ratio of 21.61 and a beta of 0.54.
Southwest Gas Corp. (NYSE:SWX) last released its quarterly earnings results on Monday, August 8th. The company reported $0.19 EPS 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 return on equity of 9.07% and a net margin of 5.90%. Southwest Gas Corp.’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.13 EPS. On average, equities research analysts expect that Southwest Gas Corp. will post $3.17 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Thursday, November 10th. Southwest Gas Corp.’s payout ratio is 59.02%.
Several equities research analysts recently commented on SWX shares. Argus reaffirmed a “hold” rating on shares of Southwest Gas Corp. in a research note on Thursday, September 8th. Zacks Investment Research raised Southwest Gas Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 20th. Citigroup Inc. raised their price objective on Southwest Gas Corp. from $62.00 to $79.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Finally, Jefferies Group cut Southwest Gas Corp. from a “hold” rating to an “underperform” rating and set a $64.00 price objective for the company. in a research note on Monday, July 25th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $71.25.
In other Southwest Gas Corp. news, CFO Roy R. Centrella sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $71.54, for a total transaction of $71,540.00. Following the completion of the transaction, the chief financial officer now owns 31,618 shares of the company’s stock, valued at approximately $2,261,951.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Eric Debonis sold 600 shares of the company’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 value of $43,794.00. Following the transaction, the senior vice president now directly owns 19,694 shares of the company’s stock, valued at approximately $1,437,465.06. The disclosure for this sale can be found here. Company insiders own 1.34% of the company’s stock.
About Southwest Gas Corp.
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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