Intech Investment Management LLC Grows Position in Southwest Gas Corporation $SWX

Intech Investment Management LLC boosted its holdings in Southwest Gas Corporation (NYSE:SWX) by 18.0% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 40,670 shares of the utilities provider’s stock after buying an additional 6,210 shares during the period. Intech Investment Management LLC owned approximately 0.06% of Southwest Gas worth $2,920,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SWX. Farther Finance Advisors LLC lifted its position in Southwest Gas by 1,055.0% during the 1st quarter. Farther Finance Advisors LLC now owns 462 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 422 shares in the last quarter. Headlands Technologies LLC increased its stake in Southwest Gas by 144.0% during the first quarter. Headlands Technologies LLC now owns 510 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 301 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of Southwest Gas by 1,001.8% during the 1st quarter. Golden State Wealth Management LLC now owns 606 shares of the utilities provider’s stock valued at $44,000 after buying an additional 551 shares during the last quarter. Quarry LP lifted its holdings in shares of Southwest Gas by 118.3% in the 1st quarter. Quarry LP now owns 751 shares of the utilities provider’s stock worth $54,000 after purchasing an additional 407 shares during the last quarter. Finally, UMB Bank n.a. increased its position in Southwest Gas by 41.2% in the first quarter. UMB Bank n.a. now owns 833 shares of the utilities provider’s stock worth $60,000 after buying an additional 243 shares during the period. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Bank of America upgraded shares of Southwest Gas from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $76.00 to $84.00 in a research report on Friday, August 29th. Wall Street Zen upgraded Southwest Gas from a “hold” rating to a “buy” rating in a research report on Friday, June 27th. JPMorgan Chase & Co. decreased their price target on Southwest Gas from $79.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, May 28th. Finally, Jefferies Financial Group lifted their price objective on shares of Southwest Gas from $82.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.25.

Southwest Gas Trading Down 0.7%

Shares of SWX opened at $78.56 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.07. Southwest Gas Corporation has a 1-year low of $64.69 and a 1-year high of $80.54. The stock has a market capitalization of $5.65 billion, a P/E ratio of 29.31, a P/E/G ratio of 2.03 and a beta of 0.55. The business’s 50-day moving average price is $77.99 and its 200 day moving average price is $74.46.

Southwest Gas (NYSE:SWX) last announced its earnings results on Wednesday, August 6th. The utilities provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.42 by $0.11. Southwest Gas had a net margin of 4.06% and a return on equity of 6.98%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the company posted $0.25 earnings per share. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. Analysts expect that Southwest Gas Corporation will post 3.03 earnings per share for the current year.

Southwest Gas 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.