Southwest Gas Holdings, Inc. (NYSE:SWX) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its position in Southwest Gas Holdings, Inc. (NYSE:SWX) by 6.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,349 shares of the utilities provider’s stock after selling 6,385 shares during the quarter. Raymond James & Associates owned approximately 0.14% of Southwest Gas worth $6,851,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SWX. GAMMA Investing LLC increased its stake in Southwest Gas by 154.8% during the second quarter. GAMMA Investing LLC now owns 428 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 260 shares during the last quarter. Blue Trust Inc. raised its stake in Southwest Gas by 96.6% during the second quarter. Blue Trust Inc. now owns 574 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 282 shares during the period. Jones Financial Companies Lllp lifted its holdings in Southwest Gas by 461.9% in the fourth quarter. Jones Financial Companies Lllp now owns 1,371 shares of the utilities provider’s stock worth $87,000 after acquiring an additional 1,127 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Southwest Gas in the first quarter valued at approximately $115,000. Finally, Assetmark Inc. raised its position in shares of Southwest Gas by 22.6% during the 4th quarter. Assetmark Inc. now owns 3,152 shares of the utilities provider’s stock worth $200,000 after purchasing an additional 581 shares during the period. 92.77% of the stock is owned by institutional investors and hedge funds.

Southwest Gas Stock Down 0.5 %

SWX opened at $72.43 on Wednesday. The stock’s 50 day moving average price is $72.42 and its 200 day moving average price is $72.45. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.58 and a quick ratio of 1.58. The stock has a market cap of $5.19 billion, a P/E ratio of 27.13, a P/E/G ratio of 3.61 and a beta of 0.37. Southwest Gas Holdings, Inc. has a 12 month low of $56.17 and a 12 month high of $78.46.

Southwest Gas (NYSE:SWX) last issued its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. Southwest Gas had a net margin of 3.44% and a return on equity of 6.18%. Southwest Gas’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 earnings per share. As a group, research analysts predict that Southwest Gas Holdings, Inc. will post 3.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SWX shares. JPMorgan Chase & Co. lowered their price objective on Southwest Gas from $78.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Wells Fargo & Company lowered their price target on shares of Southwest Gas from $77.00 to $74.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 7th.

Southwest Gas 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.