American Century Companies Inc. Sells 90,543 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

American Century Companies Inc. cut its holdings in Southwest Gas Holdings, Inc. (NYSE:SWX) by 9.2% in the second quarter, HoldingsChannel reports. The firm owned 898,709 shares of the utilities provider’s stock after selling 90,543 shares during the period. American Century Companies Inc.’s holdings in Southwest Gas were worth $63,251,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake 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 acquiring an additional 260 shares in the last quarter. Blue Trust Inc. boosted its position in Southwest Gas by 96.6% during the second quarter. Blue Trust Inc. now owns 574 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 282 shares during the period. International Assets Investment Management LLC acquired a new position in Southwest Gas during the second quarter valued at approximately $49,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Southwest Gas in the second quarter valued at approximately $72,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Southwest Gas by 461.9% in 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 during the last quarter. 92.77% of the stock is currently owned by institutional investors.

Southwest Gas Stock Performance

SWX opened at $72.27 on Monday. The stock’s 50 day simple moving average is $72.03 and its 200-day simple moving average is $73.32. 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 stock has a market cap of $5.18 billion, a PE ratio of 27.07, a P/E/G ratio of 3.65 and a beta of 0.38. Southwest Gas Holdings, Inc. has a 1 year low of $56.17 and a 1 year high of $78.46.

Southwest Gas (NYSE:SWX) last announced its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.17). Southwest Gas had a net margin of 3.44% and a return on equity of 6.18%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the firm earned $0.47 EPS. The company’s quarterly revenue was down 8.6% compared to the same quarter last year. Sell-side analysts forecast that Southwest Gas Holdings, Inc. will post 3.2 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on SWX shares. JPMorgan Chase & Co. dropped their price target on Southwest Gas from $78.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Wells Fargo & Company dropped their price objective on shares of Southwest Gas from $77.00 to $74.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 7th.

Insider Activity at Southwest Gas

In other Southwest Gas news, CFO Robert J. Stefani sold 767 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $73.14, for a total transaction of $56,098.38. Following the completion of the transaction, the chief financial officer now owns 43,438 shares in the company, valued at $3,177,055.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.39% of the stock is currently owned by insiders.

Southwest Gas Company 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.