Assetmark Inc. Lowers Stock Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

Assetmark Inc. reduced its position in Southwest Gas Holdings, Inc. (NYSE:SWX) by 7.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,791 shares of the utilities provider’s stock after selling 229 shares during the period. Assetmark Inc.’s holdings in Southwest Gas were worth $206,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SWX. Summit Global Investments purchased a new position in shares of Southwest Gas in the 3rd quarter worth about $1,349,000. New York State Common Retirement Fund raised its holdings in Southwest Gas by 3.0% in the third quarter. New York State Common Retirement Fund now owns 267,589 shares of the utilities provider’s stock valued at $19,737,000 after buying an additional 7,858 shares during the period. US Bancorp DE lifted its position in Southwest Gas by 9.3% during the third quarter. US Bancorp DE now owns 15,364 shares of the utilities provider’s stock valued at $1,133,000 after buying an additional 1,303 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Southwest Gas by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 6,961 shares of the utilities provider’s stock worth $513,000 after buying an additional 470 shares during the period. Finally, Spirit of America Management Corp NY increased its position in shares of Southwest Gas by 10.4% in the third quarter. Spirit of America Management Corp NY now owns 2,650 shares of the utilities provider’s stock worth $195,000 after acquiring an additional 250 shares in the last quarter. Institutional investors and hedge funds own 92.77% of the company’s stock.

Southwest Gas Price Performance

SWX opened at $76.49 on Friday. Southwest Gas Holdings, Inc. has a twelve month low of $57.55 and a twelve month high of $79.03. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 4.08 and a beta of 0.38. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21. The company has a fifty day simple moving average of $73.79 and a 200 day simple moving average of $73.60.

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

Southwest Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Friday, November 15th. Southwest Gas’s payout ratio is 100.00%.

Wall Street Analysts Forecast Growth

SWX has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of Southwest Gas from $74.00 to $78.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. decreased their target price 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.

Insider Activity

In other news, CFO Robert J. Stefani sold 767 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $73.14, for a total value of $56,098.38. Following the sale, the chief financial officer now owns 43,438 shares in the company, valued at approximately $3,177,055.32. This represents a 1.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.39% of the company’s stock.

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.