Victory Capital Management Inc. Has $14.42 Million Stake in Southwest Gas Holdings, Inc. (NYSE:SWX)

Victory Capital Management Inc. lessened its holdings in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 5.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,538 shares of the utilities provider’s stock after selling 10,576 shares during the period. Victory Capital Management Inc.’s holdings in Southwest Gas were worth $14,423,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. UMB Bank n.a. raised its holdings in Southwest Gas by 67.2% during the 3rd quarter. UMB Bank n.a. now owns 398 shares of the utilities provider’s stock worth $29,000 after buying an additional 160 shares during the period. V Square Quantitative Management LLC boosted its holdings in shares of Southwest Gas by 4.8% in the third quarter. V Square Quantitative Management LLC now owns 4,303 shares of the utilities provider’s stock valued at $317,000 after buying an additional 199 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in shares of Southwest Gas by 2.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,174 shares of the utilities provider’s stock worth $645,000 after acquiring an additional 213 shares in the last quarter. Blue Trust Inc. increased its position in shares of Southwest Gas by 37.5% during the third quarter. Blue Trust Inc. now owns 789 shares of the utilities provider’s stock worth $56,000 after acquiring an additional 215 shares in the last quarter. Finally, Inspire Investing LLC raised its holdings in shares of Southwest Gas by 5.2% during the second quarter. Inspire Investing LLC now owns 4,968 shares of the utilities provider’s stock worth $350,000 after acquiring an additional 245 shares during the period. 92.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Southwest Gas

In other Southwest Gas news, CFO Robert J. Stefani sold 767 shares of the company’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 sale, the chief financial officer now directly owns 43,438 shares of the company’s stock, valued at approximately $3,177,055.32. This represents a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SWX. JPMorgan Chase & Co. reduced 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 note on Thursday, August 15th. Wells Fargo & Company upped their price objective on Southwest Gas from $74.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th.

Southwest Gas Price Performance

NYSE SWX opened at $79.11 on Wednesday. Southwest Gas Holdings, Inc. has a 12-month low of $57.55 and a 12-month high of $79.20. The firm’s 50 day moving average is $74.15 and its 200-day moving average is $73.64. The company has a market capitalization of $5.68 billion, a PE ratio of 31.90, a price-to-earnings-growth ratio of 4.07 and a beta of 0.38. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21.

Southwest Gas (NYSE:SWX) last issued its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the business earned $0.10 EPS. The company’s revenue was down 7.7% compared to the same quarter last year. Equities research analysts anticipate that Southwest Gas Holdings, Inc. will post 3.13 earnings per share for the current fiscal year.

Southwest Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, November 15th. This represents a $2.48 annualized dividend and a yield of 3.13%. Southwest Gas’s payout ratio is presently 100.00%.

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.