Parallel Advisors LLC Sells 250 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

Parallel Advisors LLC trimmed its stake in Southwest Gas Holdings, Inc. (NYSE:SWXFree Report) by 23.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 794 shares of the utilities provider’s stock after selling 250 shares during the quarter. Parallel Advisors LLC’s holdings in Southwest Gas were worth $50,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Allworth Financial LP increased its holdings in Southwest Gas by 520.4% in the 4th quarter. Allworth Financial LP now owns 3,071 shares of the utilities provider’s stock worth $195,000 after acquiring an additional 2,576 shares during the last quarter. Assetmark Inc. increased its stake in shares of Southwest Gas by 22.6% in the fourth quarter. Assetmark Inc. now owns 3,152 shares of the utilities provider’s stock worth $200,000 after purchasing an additional 581 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Southwest Gas in the fourth quarter valued at approximately $333,000. Optas LLC lifted its stake in shares of Southwest Gas by 20.9% during the 4th quarter. Optas LLC now owns 5,500 shares of the utilities provider’s stock valued at $348,000 after buying an additional 951 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in shares of Southwest Gas by 24.4% during the 4th quarter. Teacher Retirement System of Texas now owns 6,861 shares of the utilities provider’s stock valued at $435,000 after buying an additional 1,346 shares in the last quarter. 92.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SWX has been the topic of a number of analyst reports. Wells Fargo & Company assumed coverage on shares of Southwest Gas in a report on Monday, May 13th. They set an “equal weight” rating and a $77.00 target price on the stock. Citigroup lifted their price target on Southwest Gas from $64.00 to $73.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th.

View Our Latest Report on SWX

Insider Buying and Selling

In other news, insider Justin L. Brown sold 2,625 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $76.50, for a total transaction of $200,812.50. Following the sale, the insider now owns 23,830 shares in the company, valued at approximately $1,822,995. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.39% of the stock is owned by company insiders.

Southwest Gas Trading Down 1.5 %

Shares of Southwest Gas stock opened at $74.04 on Friday. The company’s 50-day moving average price is $75.40 and its 200-day moving average price is $67.80. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 3.73 and a beta of 0.39. Southwest Gas Holdings, Inc. has a 12-month low of $56.17 and a 12-month high of $78.46. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.39.

Southwest Gas (NYSE:SWXGet Free Report) last posted its earnings results on Wednesday, May 8th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.33). The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Southwest Gas had a return on equity of 6.71% and a net margin of 3.56%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.69 earnings per share. On average, equities analysts expect that Southwest Gas Holdings, Inc. will post 3.42 earnings per share for the current fiscal year.

Southwest Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Thursday, August 15th. Southwest Gas’s payout ratio is 92.88%.

Southwest Gas Company Profile

(Free Report)

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.

See Also

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

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