Exchange Traded Concepts LLC Purchases 14,388 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

Exchange Traded Concepts LLC boosted its holdings in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 12.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 125,914 shares of the utilities provider's stock after purchasing an additional 14,388 shares during the quarter. Exchange Traded Concepts LLC owned about 0.18% of Southwest Gas worth $9,287,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Gabelli Funds LLC boosted its position in shares of Southwest Gas by 0.6% during the 1st quarter. Gabelli Funds LLC now owns 1,223,021 shares of the utilities provider's stock worth $93,109,000 after purchasing an additional 6,786 shares in the last quarter. Principal Financial Group Inc. grew its stake in Southwest Gas by 2.3% in the first quarter. Principal Financial Group Inc. now owns 1,197,754 shares of the utilities provider's stock valued at $91,185,000 after acquiring an additional 27,500 shares during the period. Wellington Management Group LLP grew its stake in Southwest Gas by 24.4% in the fourth quarter. Wellington Management Group LLP now owns 1,059,348 shares of the utilities provider's stock valued at $67,110,000 after acquiring an additional 207,798 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Southwest Gas by 6.9% during the second quarter. Bank of New York Mellon Corp now owns 1,053,094 shares of the utilities provider's stock valued at $74,117,000 after acquiring an additional 68,254 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Southwest Gas by 9.4% during the second quarter. Dimensional Fund Advisors LP now owns 985,566 shares of the utilities provider's stock worth $69,370,000 after purchasing an additional 84,987 shares during the period. 92.77% of the stock is owned by institutional investors and hedge funds.

Southwest Gas Stock Up 0.1 %

Shares of NYSE:SWX traded up $0.09 during mid-day trading on Monday, hitting $74.42. 232,467 shares of the company traded hands, compared to its average volume of 388,889. The stock has a market cap of $5.34 billion, a P/E ratio of 29.53, a P/E/G ratio of 3.80 and a beta of 0.38. The stock has a 50-day moving average price of $72.27 and a two-hundred day moving average price of $73.58. 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 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.38.

Southwest Gas (NYSE:SWX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.17). Southwest Gas had a return on equity of 6.18% and a net margin of 3.44%. The firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the prior year, the firm earned $0.47 earnings per share. Southwest Gas's revenue was down 8.6% compared to the same quarter last year. On average, equities research analysts forecast that Southwest Gas Holdings, Inc. will post 3.2 earnings per share for the current year.

Southwest Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, November 15th. Southwest Gas's payout ratio is 98.41%.

Insider Buying and Selling

In related news, CFO Robert J. Stefani sold 767 shares of the business's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $73.14, for a total value of $56,098.38. Following the transaction, the chief financial officer now directly owns 43,438 shares of the company's stock, valued at approximately $3,177,055.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on SWX. Wells Fargo & Company lifted their price target on shares of Southwest Gas from $74.00 to $78.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. decreased their target price on shares of Southwest Gas from $78.00 to $70.00 and set a "neutral" rating for the company in a research report on Thursday, August 15th.

Southwest Gas Company 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.