Channing Capital Management LLC Has $72.91 Million Stock Holdings in Southwest Gas Corporation $SWX

Channing Capital Management LLC grew its stake in Southwest Gas Corporation (NYSE:SWX) by 32.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 930,695 shares of the utilities provider’s stock after purchasing an additional 226,231 shares during the quarter. Southwest Gas comprises approximately 1.9% of Channing Capital Management LLC’s holdings, making the stock its 26th largest holding. Channing Capital Management LLC owned 1.29% of Southwest Gas worth $72,911,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Millennium Management LLC grew its position in shares of Southwest Gas by 74.7% during the 1st quarter. Millennium Management LLC now owns 209,934 shares of the utilities provider’s stock worth $15,073,000 after buying an additional 89,761 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Southwest Gas by 14.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 190,852 shares of the utilities provider’s stock valued at $13,703,000 after purchasing an additional 24,688 shares during the period. CWM LLC increased its stake in Southwest Gas by 173.5% in the second quarter. CWM LLC now owns 6,963 shares of the utilities provider’s stock valued at $518,000 after purchasing an additional 4,417 shares in the last quarter. Private Trust Co. NA acquired a new stake in Southwest Gas in the second quarter worth $25,000. Finally, First Citizens Bank & Trust Co. bought a new position in shares of Southwest Gas during the second quarter worth $779,000. 92.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SWX has been the topic of several recent analyst reports. Mizuho set a $96.00 target price on Southwest Gas in a report on Wednesday, February 11th. Citigroup upgraded Southwest Gas from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $82.00 to $99.00 in a report on Thursday, January 15th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Southwest Gas in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Southwest Gas currently has a consensus rating of “Moderate Buy” and an average target price of $88.40.

Southwest Gas Stock Performance

Shares of SWX stock opened at $87.47 on Friday. The company has a fifty day moving average price of $83.03 and a two-hundred day moving average price of $80.60. Southwest Gas Corporation has a one year low of $64.69 and a one year high of $88.74. The stock has a market cap of $6.31 billion, a P/E ratio of 13.63, a P/E/G ratio of 2.31 and a beta of 0.65. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.55 and a quick ratio of 1.43.

Southwest Gas Company Profile

Southwest Gas Corporation (NYSE: SWX) is a publicly traded natural gas utility that provides regulated gas distribution services to residential, commercial, industrial and electric generation customers. The company’s core activities include the transportation, distribution and sale of natural gas through an extensive network of pipelines, service lines and metering facilities. Southwest Gas also offers related services such as system maintenance, pipeline safety inspections, emergency response and line extensions to support customer growth and ensure reliable gas delivery.

Founded in 1931 in southern Nevada, Southwest Gas has grown through strategic acquisitions and organic expansion to become one of the nation’s larger natural gas utilities by customer count.