Mutual of America Capital Management LLC Has $2.43 Million Stock Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

Mutual of America Capital Management LLC reduced its stake in Southwest Gas Holdings, Inc. (NYSE:SWX) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,470 shares of the utilities provider’s stock after selling 1,324 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Southwest Gas were worth $2,426,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Gabelli Funds LLC lifted its stake in shares of Southwest Gas by 0.6% in the first quarter. Gabelli Funds LLC now owns 1,223,021 shares of the utilities provider’s stock worth $93,109,000 after acquiring an additional 6,786 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Southwest Gas by 2.3% in the first quarter. Principal Financial Group Inc. now owns 1,197,754 shares of the utilities provider’s stock worth $91,185,000 after acquiring an additional 27,500 shares during the period. Wellington Management Group LLP lifted its stake 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 worth $67,110,000 after acquiring an additional 207,798 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Southwest Gas by 6.9% in the second quarter. Bank of New York Mellon Corp now owns 1,053,094 shares of the utilities provider’s stock worth $74,117,000 after acquiring an additional 68,254 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Southwest Gas by 9.4% in the second quarter. Dimensional Fund Advisors LP now owns 985,566 shares of the utilities provider’s stock worth $69,370,000 after purchasing an additional 84,987 shares in the last quarter. 92.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related 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 transaction of $56,098.38. Following the completion of the sale, 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 Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SWX. Wells Fargo & Company lowered their target price 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. JPMorgan Chase & Co. lowered their target price on Southwest Gas from $78.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, August 15th.

Southwest Gas Trading Down 1.1 %

NYSE SWX opened at $73.89 on Wednesday. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 27.67, a P/E/G ratio of 3.81 and a beta of 0.38. Southwest Gas Holdings, Inc. has a 52 week low of $56.17 and a 52 week high of $78.46. The business has a 50 day moving average price of $72.32 and a 200-day moving average price of $73.45. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.38.

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

Southwest Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.48 annualized dividend and a dividend yield of 3.36%. Southwest Gas’s dividend payout ratio is 92.88%.

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.