Teachers Retirement System of The State of Kentucky Reduces Stake in Southwest Gas Holdings Inc (SWX)

Teachers Retirement System of The State of Kentucky decreased its holdings in Southwest Gas Holdings Inc (NYSE:SWX) by 7.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,459 shares of the utilities provider’s stock after selling 2,001 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Southwest Gas were worth $2,013,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. NumerixS Investment Technologies Inc bought a new stake in shares of Southwest Gas in the second quarter valued at approximately $115,000. First Mercantile Trust Co. boosted its position in shares of Southwest Gas by 51.9% in the second quarter. First Mercantile Trust Co. now owns 2,050 shares of the utilities provider’s stock valued at $156,000 after acquiring an additional 700 shares during the period. First Republic Investment Management Inc. bought a new stake in shares of Southwest Gas in the second quarter valued at approximately $206,000. Raymond James Trust N.A. bought a new stake in shares of Southwest Gas in the third quarter valued at approximately $222,000. Finally, Stevens Capital Management LP bought a new stake in shares of Southwest Gas in the second quarter valued at approximately $270,000. Institutional investors own 83.67% of the company’s stock.

Shares of SWX stock opened at $82.85 on Monday. The firm has a market capitalization of $4.10 billion, a P/E ratio of 22.89, a PEG ratio of 5.39 and a beta of 0.39. Southwest Gas Holdings Inc has a one year low of $62.53 and a one year high of $86.87. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.01 and a quick ratio of 1.01.

Southwest Gas (NYSE:SWX) last released its quarterly earnings data on Tuesday, November 6th. The utilities provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.11. Southwest Gas had a return on equity of 10.01% and a net margin of 7.39%. The firm had revenue of $668.10 million during the quarter, compared to analyst estimates of $224.00 million. During the same period in the prior year, the company posted $0.21 earnings per share. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, sell-side analysts predict that Southwest Gas Holdings Inc will post 3.85 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 15th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $2.08 annualized dividend and a yield of 2.51%. Southwest Gas’s dividend payout ratio is currently 57.46%.

In other Southwest Gas news, VP Kenneth J. Kenny sold 500 shares of the stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $82.67, for a total transaction of $41,335.00. Following the completion of the transaction, the vice president now directly owns 15,509 shares in the company, valued at $1,282,129.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

SWX has been the subject of several research reports. Bank of America cut Southwest Gas from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $76.00 to $74.00 in a research report on Monday, July 30th. ValuEngine cut Southwest Gas from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Citigroup raised their target price on Southwest Gas from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Wednesday, October 3rd. Finally, Zacks Investment Research cut Southwest Gas from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $78.17.

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About Southwest Gas

Southwest Gas Holdings, Inc, through its subsidiaries, purchases, distributes, and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Operations and Construction Services segments. As of December 31, 2017, it had 2,015,000 residential, commercial, industrial, and other natural gas customers.

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

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