Vestcor Inc Takes Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

Vestcor Inc acquired a new position in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,123 shares of the utilities provider's stock, valued at approximately $433,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SWX. Maverick Capital Ltd. lifted its position in Southwest Gas by 18.5% during the third quarter. Maverick Capital Ltd. now owns 1,765,148 shares of the utilities provider's stock valued at $130,197,000 after purchasing an additional 275,992 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Southwest Gas in the 4th quarter worth $6,946,000. Zimmer Partners LP bought a new stake in shares of Southwest Gas in the third quarter worth $6,823,000. Barclays PLC increased its position in Southwest Gas by 192.7% during the third quarter. Barclays PLC now owns 105,134 shares of the utilities provider's stock valued at $7,755,000 after acquiring an additional 69,212 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Southwest Gas by 107.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 83,306 shares of the utilities provider's stock valued at $6,145,000 after acquiring an additional 43,131 shares during the period. 92.77% of the stock is owned by institutional investors.

Southwest Gas Price Performance

SWX stock traded down $0.87 during mid-day trading on Friday, hitting $75.18. The company had a trading volume of 811,659 shares, compared to its average volume of 330,638. The company has a 50-day moving average price of $74.53 and a 200 day moving average price of $73.91. Southwest Gas Holdings, Inc. has a 12-month low of $64.31 and a 12-month high of $80.29. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 30.32, a P/E/G ratio of 3.16 and a beta of 0.37. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21.

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Southwest Gas (NYSE:SWX - Get Free Report) last posted its earnings results on Wednesday, February 26th. The utilities provider reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.18. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.35 billion. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. On average, research analysts anticipate that Southwest Gas Holdings, Inc. will post 3.03 earnings per share for the current year.

Southwest Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be paid a $0.62 dividend. The ex-dividend date is Thursday, May 15th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.30%. Southwest Gas's payout ratio is currently 90.18%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SWX shares. LADENBURG THALM/SH SH upgraded shares of Southwest Gas to a "strong-buy" rating in a research note on Monday. JPMorgan Chase & Co. decreased their price target on shares of Southwest Gas from $76.00 to $72.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 28th. Jefferies Financial Group initiated coverage on shares of Southwest Gas in a research report on Tuesday, January 14th. They set a "hold" rating and a $73.00 price objective for the company. Finally, Bank of America restated an "underperform" rating and set a $73.00 target price on shares of Southwest Gas in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $74.00.

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.