Southwest Gas Holdings, Inc. (NYSE:SWX) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in Southwest Gas Holdings, Inc. (NYSE:SWX) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 221,976 shares of the utilities provider’s stock after selling 1,217 shares during the quarter. Rhumbline Advisers’ holdings in Southwest Gas were worth $15,623,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in SWX. GAMMA Investing LLC lifted its position in 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 during the period. Blue Trust Inc. increased its stake in 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 buying an additional 282 shares during the period. International Assets Investment Management LLC purchased a new position in Southwest Gas during the 2nd quarter worth $49,000. Jones Financial Companies Lllp lifted its stake in shares of Southwest Gas by 461.9% in the 4th quarter. Jones Financial Companies Lllp now owns 1,371 shares of the utilities provider’s stock worth $87,000 after acquiring an additional 1,127 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Southwest Gas in the 1st quarter worth $115,000. 92.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Southwest Gas

In other Southwest Gas news, CFO Robert J. Stefani sold 767 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $73.14, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.39% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SWX shares. Wells Fargo & Company cut their price target 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. JPMorgan Chase & Co. cut their target price on Southwest Gas from $78.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th.

Southwest Gas Stock Performance

NYSE:SWX opened at $68.16 on Tuesday. The firm’s fifty day simple moving average is $72.06 and its 200-day simple moving average is $73.13. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.38. The stock has a market cap of $4.88 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 3.57 and a beta of 0.38. Southwest Gas Holdings, Inc. has a fifty-two week low of $56.17 and a fifty-two week high of $78.46.

Southwest Gas (NYSE:SWX) last issued its earnings results on Tuesday, August 6th. The utilities provider reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.17). Southwest Gas had a return on equity of 6.18% and a net margin of 3.44%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s quarterly revenue was down 8.6% compared to the same quarter last year. Analysts expect that Southwest Gas Holdings, Inc. will post 3.2 earnings per share 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.