Zurcher Kantonalbank Zurich Cantonalbank Buys 1,260 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 9.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 14,099 shares of the utilities provider’s stock after buying an additional 1,260 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Southwest Gas were worth $893,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SWX. Fifth Third Bancorp boosted its holdings in shares of Southwest Gas by 56.1% during the third quarter. Fifth Third Bancorp now owns 484 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 174 shares during the period. Assetmark Inc. grew its holdings in Southwest Gas by 16.8% in the 3rd quarter. Assetmark Inc. now owns 2,571 shares of the utilities provider’s stock valued at $155,000 after buying an additional 369 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Southwest Gas by 520.4% during the fourth quarter. Allworth Financial LP now owns 3,071 shares of the utilities provider’s stock worth $195,000 after buying an additional 2,576 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of Southwest Gas in the third quarter valued at about $219,000. Finally, Cable Hill Partners LLC bought a new position in Southwest Gas during the third quarter worth about $230,000. Institutional investors own 92.77% of the company’s stock.

Southwest Gas Price Performance

Southwest Gas stock opened at $75.00 on Monday. The stock has a 50-day moving average price of $71.54 and a two-hundred day moving average price of $64.38. Southwest Gas Holdings, Inc. has a 12 month low of $53.79 and a 12 month high of $76.75. The company has a market capitalization of $5.37 billion, a PE ratio of 35.38, a P/E/G ratio of 3.62 and a beta of 0.36. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.39.

Southwest Gas (NYSE:SWX) last issued its earnings results on Wednesday, February 28th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.16. Southwest Gas had a net margin of 2.78% and a return on equity of 7.28%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.27 billion. Analysts expect that Southwest Gas Holdings, Inc. will post 3.45 EPS for the current year.

Southwest Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be issued a $0.62 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $2.48 annualized dividend and a dividend yield of 3.31%. Southwest Gas’s dividend payout ratio is currently 116.98%.

Wall Street Analysts Forecast Growth

Separately, Citigroup increased their target price on shares of Southwest Gas from $64.00 to $73.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th.

About Southwest Gas

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.