Southwest Gas Holdings, Inc. (NYSE:SWX) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its holdings in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 41.9% during the second quarter, HoldingsChannel reports. The fund owned 206,114 shares of the utilities provider’s stock after buying an additional 60,856 shares during the period. Victory Capital Management Inc.’s holdings in Southwest Gas were worth $14,506,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SWX. GAMMA Investing LLC boosted its position in shares of Southwest Gas by 154.8% during the 2nd quarter. GAMMA Investing LLC now owns 428 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 260 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Southwest Gas by 96.6% in the 2nd quarter. Blue Trust Inc. now owns 574 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 282 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Southwest Gas in the second quarter valued at about $49,000. Jones Financial Companies Lllp boosted its holdings in Southwest Gas by 461.9% during the fourth quarter. Jones Financial Companies Lllp now owns 1,371 shares of the utilities provider’s stock worth $87,000 after buying an additional 1,127 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Southwest Gas during the first quarter worth about $115,000. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Southwest Gas Stock Performance

NYSE:SWX opened at $72.27 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $5.18 billion, a P/E ratio of 27.07, a price-to-earnings-growth ratio of 3.63 and a beta of 0.38. The firm has a 50-day moving average price of $72.03 and a two-hundred day moving average price of $73.21. Southwest Gas Holdings, Inc. has a twelve month low of $56.17 and a twelve month high of $78.46.

Southwest Gas (NYSE:SWX) last issued its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). Southwest Gas had a return on equity of 6.18% and a net margin of 3.44%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the business earned $0.47 earnings per share. The company’s revenue for the quarter was down 8.6% on a year-over-year basis. As a group, research analysts expect that Southwest Gas Holdings, Inc. will post 3.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SWX shares. JPMorgan Chase & Co. reduced their price target on shares of Southwest Gas from $78.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Wells Fargo & Company reduced their price objective on Southwest Gas from $77.00 to $74.00 and set an “equal weight” rating for the company in a report on Wednesday, August 7th.

Insiders Place Their Bets

In other news, CFO Robert J. Stefani sold 767 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $73.14, for a total value of $56,098.38. Following the sale, the chief financial officer now directly owns 43,438 shares in the company, valued at $3,177,055.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by company insiders.

Southwest Gas Profile

Southwest Gas Holdings, Inc, through its subsidiaries, distributes and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Distribution, Utility Infrastructure Services, and Pipeline and Storage segments. It also provides trenching, installation, and replacement of underground pipes, as well as maintenance services for energy distribution systems.