Retirement Systems of Alabama boosted its position in Southwest Gas Holdings Inc (NYSE:SWX) by 0.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,452 shares of the utilities provider’s stock after purchasing an additional 354 shares during the period. Retirement Systems of Alabama’s holdings in Southwest Gas were worth $6,224,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sageworth Trust Co acquired a new stake in Southwest Gas during the 1st quarter valued at $25,000. Quadrant Capital Group LLC raised its stake in Southwest Gas by 189.9% during the 1st quarter. Quadrant Capital Group LLC now owns 400 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 262 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in Southwest Gas during the 1st quarter valued at $41,000. Hanson McClain Inc. raised its stake in Southwest Gas by 173.5% during the 1st quarter. Hanson McClain Inc. now owns 547 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 347 shares during the period. Finally, Quantamental Technologies LLC acquired a new stake in Southwest Gas during the 1st quarter valued at $119,000. Hedge funds and other institutional investors own 82.64% of the company’s stock.

Southwest Gas stock traded down $0.22 during mid-day trading on Monday, hitting $89.21. 4,398 shares of the company’s stock were exchanged, compared to its average volume of 148,451. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $4.78 billion, a PE ratio of 24.19, a P/E/G ratio of 3.70 and a beta of 0.35. Southwest Gas Holdings Inc has a 1-year low of $72.68 and a 1-year high of $91.93. The business has a 50 day moving average price of $89.51.

Southwest Gas (NYSE:SWX) last posted its earnings results on Tuesday, May 7th. The utilities provider reported $1.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.19. The firm had revenue of $807.10 million for the quarter, compared to the consensus estimate of $516.97 million. Southwest Gas had a net margin of 6.69% and a return on equity of 9.34%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.63 earnings per share. Analysts expect that Southwest Gas Holdings Inc will post 3.92 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Wednesday, August 14th. Southwest Gas’s dividend payout ratio (DPR) is 59.24%.

In other Southwest Gas news, CEO John P. Hester sold 2,000 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $90.60, for a total transaction of $181,200.00. Following the completion of the sale, the chief executive officer now directly owns 62,694 shares in the company, valued at $5,680,076.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Justin L. Brown purchased 418 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were purchased at an average price of $86.20 per share, with a total value of $36,031.60. Following the completion of the acquisition, the senior vice president now directly owns 5,720 shares of the company’s stock, valued at $493,064. The disclosure for this purchase can be found here. Insiders have sold 6,350 shares of company stock valued at $555,637 over the last 90 days. Corporate insiders own 0.83% of the company’s stock.

Several analysts have issued reports on the stock. Williams Capital raised shares of Southwest Gas from a “hold” rating to a “buy” rating and boosted their target price for the company from $81.00 to $96.00 in a research note on Tuesday, June 18th. ValuEngine raised shares of VESTAS WIND SYS/ADR from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Allergan in a research note on Monday, June 10th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of SUZUKI MTR CORP/ADR in a research note on Wednesday, July 17th. Finally, Zacks Investment Research downgraded shares of H&E Equipment Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Southwest Gas has a consensus rating of “Hold” and a consensus price target of $89.00.

Southwest Gas Company Profile

Southwest Gas Holdings, Inc, through its subsidiaries, purchases, distributes, and transports natural gas in Arizona, Nevada, and California. The company operates through two segments, Natural Gas Operations and Utility Infrastructure Services. As of December 31, 2018, it had 2,047,000 residential, commercial, industrial, and other natural gas customers.

Read More: What is a growth and income fund?

Want to see what other hedge funds are holding SWX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southwest Gas Holdings Inc (NYSE:SWX).

Institutional Ownership by Quarter for Southwest Gas (NYSE:SWX)

Receive News & Ratings for Southwest Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Gas and related companies with MarketBeat.com's FREE daily email newsletter.