Summit Global Investments Sells 2,400 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

Summit Global Investments cut its position in Southwest Gas Holdings, Inc. (NYSE:SWX) by 13.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,890 shares of the utilities provider’s stock after selling 2,400 shares during the quarter. Summit Global Investments’ holdings in Southwest Gas were worth $1,124,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. UMB Bank n.a. raised its stake in shares of Southwest Gas by 48.2% during the 4th quarter. UMB Bank n.a. now owns 590 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 192 shares during the period. ST Germain D J Co. Inc. raised its stake in shares of Southwest Gas by 206.2% during the 4th quarter. ST Germain D J Co. Inc. now owns 845 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 569 shares during the period. AlphaQuest LLC raised its stake in shares of Southwest Gas by 94,500.0% during the 4th quarter. AlphaQuest LLC now owns 946 shares of the utilities provider’s stock valued at $67,000 after purchasing an additional 945 shares during the period. Blue Trust Inc. raised its stake in shares of Southwest Gas by 18.8% during the 4th quarter. Blue Trust Inc. now owns 937 shares of the utilities provider’s stock valued at $69,000 after purchasing an additional 148 shares during the period. Finally, KBC Group NV raised its stake in shares of Southwest Gas by 54.0% during the 4th quarter. KBC Group NV now owns 2,832 shares of the utilities provider’s stock valued at $200,000 after purchasing an additional 993 shares during the period. 92.77% of the stock is currently owned by institutional investors.

Southwest Gas Price Performance

Shares of NYSE SWX opened at $75.18 on Friday. The firm has a market capitalization of $5.40 billion, a P/E ratio of 30.32, a P/E/G ratio of 3.16 and a beta of 0.37. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21. The stock’s 50-day simple moving average is $74.66 and its two-hundred day simple moving average is $73.95. Southwest Gas Holdings, Inc. has a twelve month low of $64.31 and a twelve month high of $80.29.

Southwest Gas (NYSE:SWX) last posted its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.35 billion. As a group, equities analysts anticipate that Southwest Gas Holdings, Inc. will post 3.03 EPS for the current fiscal year.

Southwest Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Thursday, May 15th. Southwest Gas’s payout ratio is currently 90.18%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SWX. LADENBURG THALM/SH SH upgraded Southwest Gas to a “strong-buy” rating in a research note on Monday, March 17th. Jefferies Financial Group assumed coverage on Southwest Gas in a research note on Tuesday, January 14th. They issued a “hold” rating and a $73.00 target price on the stock. Bank of America restated an “underperform” rating and issued a $73.00 target price on shares of Southwest Gas in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. decreased their target price on Southwest Gas from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $74.00.

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.