Massachusetts Wealth Management Has $584,000 Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

Massachusetts Wealth Management trimmed its position in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 2.8% during the third quarter, HoldingsChannel.com reports. The firm owned 7,915 shares of the utilities provider’s stock after selling 225 shares during the period. Massachusetts Wealth Management’s holdings in Southwest Gas were worth $584,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SWX. Dimensional Fund Advisors LP boosted its position in Southwest Gas by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 985,566 shares of the utilities provider’s stock worth $69,370,000 after buying an additional 84,987 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Southwest Gas by 6.9% during the second quarter. Bank of New York Mellon Corp now owns 1,053,094 shares of the utilities provider’s stock worth $74,117,000 after purchasing an additional 68,254 shares during the period. Victory Capital Management Inc. grew its stake in shares of Southwest Gas by 41.9% in the second quarter. Victory Capital Management Inc. now owns 206,114 shares of the utilities provider’s stock worth $14,506,000 after purchasing an additional 60,856 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Southwest Gas by 7,276.0% in the third quarter. International Assets Investment Management LLC now owns 51,042 shares of the utilities provider’s stock valued at $3,765,000 after purchasing an additional 50,350 shares during the period. Finally, Gamco Investors INC. ET AL raised its position in Southwest Gas by 3.6% during the 1st quarter. Gamco Investors INC. ET AL now owns 889,426 shares of the utilities provider’s stock worth $67,712,000 after purchasing an additional 31,063 shares during the last quarter. 92.77% of the stock is currently owned by institutional investors.

Southwest Gas Trading Down 0.0 %

Shares of SWX stock traded down $0.01 during mid-day trading on Friday, hitting $74.36. The company’s stock had a trading volume of 13,840 shares, compared to its average volume of 382,330. The company has a market cap of $5.33 billion, a PE ratio of 27.85, a P/E/G ratio of 3.85 and a beta of 0.38. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.58 and a current ratio of 1.58. The company’s fifty day simple moving average is $72.85 and its 200-day simple moving average is $73.56. Southwest Gas Holdings, Inc. has a 52 week low of $56.17 and a 52 week high of $78.46.

Southwest Gas (NYSE:SWX) last issued its earnings results 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 business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. Southwest Gas had a return on equity of 6.18% and a net margin of 3.44%. The company’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 earnings per share. As a group, equities research analysts expect that Southwest Gas Holdings, Inc. will post 3.21 earnings per share for the current fiscal year.

Southwest Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Friday, November 15th. Southwest Gas’s payout ratio is 92.88%.

Wall Street Analyst Weigh In

SWX has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Southwest Gas from $74.00 to $78.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. lowered their price target on shares of Southwest Gas from $78.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, August 15th.

Insiders Place Their Bets

In other news, CFO Robert J. Stefani sold 767 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $73.14, for a total transaction of $56,098.38. Following the transaction, the chief financial officer now owns 43,438 shares of the company’s stock, valued at $3,177,055.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate 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.