Amalgamated Bank Acquires 2,498 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

Amalgamated Bank boosted its holdings in Southwest Gas Holdings, Inc. (NYSE:SWXGet Rating) by 6.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,690 shares of the utilities provider’s stock after acquiring an additional 2,498 shares during the quarter. Amalgamated Bank’s holdings in Southwest Gas were worth $3,342,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Belpointe Asset Management LLC lifted its position in Southwest Gas by 48.0% in the 1st quarter. Belpointe Asset Management LLC now owns 3,131 shares of the utilities provider’s stock valued at $245,000 after acquiring an additional 1,015 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Southwest Gas by 9.3% during the 1st quarter. Retirement Systems of Alabama now owns 86,431 shares of the utilities provider’s stock worth $6,767,000 after buying an additional 7,359 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Southwest Gas by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 1,033,608 shares of the utilities provider’s stock worth $72,404,000 after buying an additional 28,777 shares in the last quarter. Greenleaf Trust bought a new position in shares of Southwest Gas during the 1st quarter worth approximately $487,000. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Southwest Gas by 10,639.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 10,525 shares of the utilities provider’s stock worth $737,000 after buying an additional 10,427 shares in the last quarter. Institutional investors own 89.25% of the company’s stock.

Southwest Gas Stock Performance

NYSE:SWX opened at $78.74 on Friday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.70 and a current ratio of 0.70. Southwest Gas Holdings, Inc. has a 52-week low of $62.58 and a 52-week high of $95.62. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 3.89 and a beta of 0.16. The business’s fifty day moving average is $81.08 and its 200 day moving average is $84.08.

Southwest Gas (NYSE:SWXGet Rating) last released its quarterly earnings data on Tuesday, August 9th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.30). Southwest Gas had a net margin of 3.37% and a return on equity of 6.96%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm posted $0.43 earnings per share. Research analysts predict that Southwest Gas Holdings, Inc. will post 4.14 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on SWX. Wells Fargo & Company lowered their target price on Southwest Gas from $101.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 10th. Argus upgraded Southwest Gas from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Thursday, June 9th. Finally, StockNews.com lowered Southwest Gas from a “hold” rating to a “sell” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Southwest Gas currently has an average rating of “Hold” and an average price target of $91.33.

Southwest Gas Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Southwest Gas (NYSE:SWX)

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