Dalton Greiner Hartman Maher & Co. lessened its stake in shares of Southwest Gas Holdings Inc (NYSE:SWX) by 8.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 188,292 shares of the utilities provider’s stock after selling 16,483 shares during the period. Dalton Greiner Hartman Maher & Co.’s holdings in Southwest Gas were worth $14,305,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new stake in Southwest Gas during the 2nd quarter valued at approximately $54,000. Tower Research Capital LLC TRC boosted its stake in Southwest Gas by 6,708.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 817 shares of the utilities provider’s stock valued at $73,000 after purchasing an additional 805 shares during the period. Yorktown Management & Research Co Inc bought a new stake in Southwest Gas during the 3rd quarter valued at approximately $200,000. Rikoon Group LLC bought a new stake in Southwest Gas during the 3rd quarter valued at approximately $200,000. Finally, Private Advisor Group LLC bought a new stake in Southwest Gas during the 2nd quarter valued at approximately $204,000. Institutional investors own 82.52% of the company’s stock.
In other news, Director Robert L. Boughner purchased 5,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was purchased at an average price of $76.49 per share, with a total value of $382,450.00. Following the acquisition, the director now directly owns 38,429 shares in the company, valued at approximately $2,939,434.21. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders acquired 5,450 shares of company stock valued at $416,561. Insiders own 0.83% of the company’s stock.
Southwest Gas (NYSE:SWX) last posted its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.10 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.16). The firm had revenue of $725.23 million during the quarter, compared to analyst estimates of $229.10 million. Southwest Gas had a net margin of 6.26% and a return on equity of 8.11%. The company’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. As a group, analysts forecast that Southwest Gas Holdings Inc will post 3.53 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 18th will be issued a $0.545 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.18 annualized dividend and a yield of 2.82%. Southwest Gas’s dividend payout ratio (DPR) is 59.24%.
Separately, Zacks Investment Research downgraded Southwest Gas from a “hold” rating to a “sell” rating in a research note on Saturday, December 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $94.60.
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 two segments, Natural Gas Operations and Utility Infrastructure Services. As of December 31, 2018, it had 2,047,000 residential, commercial, industrial, and other natural gas customers.
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