International Assets Investment Management LLC Takes Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

International Assets Investment Management LLC bought a new stake in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 692 shares of the utilities provider’s stock, valued at approximately $49,000.

A number of other large investors have also recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new stake in shares of Southwest Gas in the first quarter valued at about $936,000. Norges Bank bought a new stake in shares of Southwest Gas in the fourth quarter valued at about $36,054,000. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Southwest Gas by 6.7% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 186,570 shares of the utilities provider’s stock valued at $11,819,000 after acquiring an additional 11,780 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Southwest Gas by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 856,249 shares of the utilities provider’s stock valued at $54,245,000 after acquiring an additional 34,995 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Southwest Gas by 24.4% in the fourth quarter. Wellington Management Group LLP now owns 1,059,348 shares of the utilities provider’s stock valued at $67,110,000 after acquiring an additional 207,798 shares in the last quarter. 92.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CFO Robert J. Stefani sold 767 shares of the company’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 transaction, the chief financial officer now owns 43,438 shares in the company, valued at $3,177,055.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Southwest Gas Stock Performance

Shares of Southwest Gas stock opened at $71.16 on Thursday. The company has a market capitalization of $5.10 billion, a PE ratio of 26.65, a P/E/G ratio of 3.79 and a beta of 0.38. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.58 and a current ratio of 1.58. The company has a 50-day simple moving average of $72.17 and a two-hundred day simple moving average of $72.89. Southwest Gas Holdings, Inc. has a one year low of $56.17 and a one year high of $78.46.

Southwest Gas (NYSE:SWX) last posted its quarterly earnings data 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 company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the company earned $0.47 EPS. The business’s revenue was down 8.6% compared to the same quarter last year. Research analysts expect that Southwest Gas Holdings, Inc. will post 3.2 EPS for the current fiscal year.

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.