Summit Global Investments Makes New Investment in Southwest Gas Holdings, Inc. (NYSE:SWX)

Summit Global Investments acquired a new stake in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,290 shares of the utilities provider's stock, valued at approximately $1,349,000.

A number of other hedge funds have also recently added to or reduced their stakes in SWX. UMB Bank n.a. lifted its position in shares of Southwest Gas by 67.2% during the 3rd quarter. UMB Bank n.a. now owns 398 shares of the utilities provider's stock valued at $29,000 after acquiring an additional 160 shares during the period. GAMMA Investing LLC lifted its position in shares of Southwest Gas by 154.8% during the 2nd quarter. GAMMA Investing LLC now owns 428 shares of the utilities provider's stock valued at $30,000 after acquiring an additional 260 shares during the period. Waldron Private Wealth LLC acquired a new stake in shares of Southwest Gas during the 3rd quarter valued at approximately $40,000. Blue Trust Inc. lifted its position in shares of Southwest Gas by 96.6% during the 2nd quarter. Blue Trust Inc. now owns 574 shares of the utilities provider's stock valued at $44,000 after acquiring an additional 282 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of Southwest Gas during the 2nd quarter valued at approximately $49,000. Institutional investors and hedge funds own 92.77% of the company's stock.

Southwest Gas Trading Up 2.2 %

SWX stock traded up $1.63 during midday trading on Friday, hitting $75.01. The stock had a trading volume of 264,960 shares, compared to its average volume of 379,749. The firm has a market cap of $5.38 billion, a PE ratio of 30.25, a price-to-earnings-growth ratio of 3.92 and a beta of 0.38. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.58 and a quick ratio of 1.58. Southwest Gas Holdings, Inc. has a 12-month low of $57.03 and a 12-month high of $79.03. The company's 50-day moving average price is $73.20 and its 200 day moving average price is $73.55.

Southwest Gas (NYSE:SWX - Get Free Report) last released its earnings results on Wednesday, November 6th. The utilities provider reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. The firm had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.12 billion. Southwest Gas had a net margin of 3.44% and a return on equity of 6.07%. Southwest Gas's revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 EPS. On average, equities research analysts predict that Southwest Gas Holdings, Inc. will post 3.13 earnings per share for the current fiscal year.

Southwest Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, November 15th. This represents a $2.48 annualized dividend and a dividend yield of 3.31%. Southwest Gas's dividend payout ratio is presently 100.00%.

Insider Activity

In other news, CFO Robert J. Stefani sold 767 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $73.14, for a total transaction of $56,098.38. Following the completion of the sale, the chief financial officer now directly owns 43,438 shares of the company's stock, valued at $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 is available at this link. Corporate insiders own 0.39% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have 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. cut their price objective on 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.