Atria Wealth Solutions Inc. Has $518,000 Stake in Southwest Gas Corporation (NYSE:SWX)

Atria Wealth Solutions Inc. lifted its position in Southwest Gas Corporation (NYSE:SWX) by 99.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,219 shares of the utilities provider’s stock after purchasing an additional 3,600 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Southwest Gas were worth $518,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. State of Alaska Department of Revenue raised its stake in shares of Southwest Gas by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 7,061 shares of the utilities provider’s stock valued at $506,000 after purchasing an additional 190 shares in the last quarter. State of Michigan Retirement System lifted its holdings in shares of Southwest Gas by 1.4% during the first quarter. State of Michigan Retirement System now owns 14,429 shares of the utilities provider’s stock valued at $1,036,000 after acquiring an additional 200 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Southwest Gas by 1.2% during the first quarter. Louisiana State Employees Retirement System now owns 16,900 shares of the utilities provider’s stock valued at $1,213,000 after acquiring an additional 200 shares during the period. Mariner LLC lifted its holdings in shares of Southwest Gas by 2.1% during the fourth quarter. Mariner LLC now owns 10,146 shares of the utilities provider’s stock valued at $717,000 after acquiring an additional 207 shares during the period. Finally, UMB Bank n.a. lifted its holdings in shares of Southwest Gas by 41.2% during the first quarter. UMB Bank n.a. now owns 833 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 243 shares during the period. 92.77% of the stock is currently owned by institutional investors and hedge funds.

Southwest Gas Stock Performance

Shares of NYSE:SWX opened at $79.94 on Thursday. Southwest Gas Corporation has a twelve month low of $64.69 and a twelve month high of $80.54. The firm has a market cap of $5.75 billion, a PE ratio of 29.83, a price-to-earnings-growth ratio of 2.04 and a beta of 0.49. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.94 and a current ratio of 1.01. The business has a fifty day moving average of $75.89 and a 200-day moving average of $74.18.

Southwest Gas (NYSE:SWX) last announced its earnings results on Wednesday, August 6th. The utilities provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.11. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.17 billion. Southwest Gas had a return on equity of 6.98% and a net margin of 4.06%. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share. On average, equities research analysts predict that Southwest Gas Corporation will post 3.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price objective on Southwest Gas from $79.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, May 28th. Bank of America raised Southwest Gas from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $69.00 to $74.00 in a report on Friday, May 23rd. LADENBURG THALM/SH SH raised Southwest Gas to a “strong-buy” rating in a report on Friday, May 9th. Wall Street Zen raised Southwest Gas from a “hold” rating to a “buy” rating in a report on Friday, June 27th. Finally, Jefferies Financial Group raised Southwest Gas from a “hold” rating to a “buy” rating and lifted their price objective for the company from $74.00 to $82.00 in a report on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Southwest Gas currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.25.

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.