Rhumbline Advisers Acquires 1,935 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

Posted by Defense World Staff on Sep 2nd, 2023

Rhumbline Advisers grew its holdings in Southwest Gas Holdings, Inc. (NYSE:SWX – Free Report) by 0.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 225,098 shares of the utilities provider’s stock after acquiring an additional 1,935 shares during the quarter. Rhumbline Advisers owned 0.33% of Southwest Gas worth $14,057,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SWX. Channing Capital Management LLC increased its holdings in shares of Southwest Gas by 660.0% in the first quarter. Channing Capital Management LLC now owns 1,322,800 shares of the utilities provider’s stock worth $82,609,000 after acquiring an additional 1,148,750 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Southwest Gas by 11.6% in the first quarter. Vanguard Group Inc. now owns 6,646,936 shares of the utilities provider’s stock worth $520,388,000 after acquiring an additional 690,696 shares in the last quarter. Norges Bank bought a new position in shares of Southwest Gas during the fourth quarter worth about $39,176,000. Morgan Stanley grew its holdings in shares of Southwest Gas by 146.8% during the fourth quarter. Morgan Stanley now owns 882,058 shares of the utilities provider’s stock worth $54,582,000 after buying an additional 524,625 shares in the last quarter. Finally, River Road Asset Management LLC grew its holdings in shares of Southwest Gas by 33.7% during the first quarter. River Road Asset Management LLC now owns 1,137,154 shares of the utilities provider’s stock worth $71,015,000 after buying an additional 286,654 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Citigroup decreased their price objective on Southwest Gas from $66.00 to $64.00 in a report on Thursday, June 1st. 888 reiterated a “maintains” rating on shares of Southwest Gas in a report on Thursday, June 1st. Finally, StockNews.com downgraded Southwest Gas from a “hold” rating to a “sell” rating in a research note on Monday, August 28th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat, Southwest Gas has an average rating of “Hold” and a consensus target price of $72.40.

Read Our Latest Stock Analysis on SWX

Southwest Gas Stock Performance

SWX opened at $62.18 on Friday. Southwest Gas Holdings, Inc. has a 12-month low of $53.79 and a 12-month high of $83.60. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of -18.90, a PEG ratio of 3.81 and a beta of 0.29. The business has a 50 day moving average of $64.42 and a 200-day moving average of $61.54. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 1.62.

Southwest Gas (NYSE:SWX – Get Free Report) last released its quarterly earnings data on Wednesday, August 9th. The utilities provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.08. Southwest Gas had a positive return on equity of 6.89% and a negative net margin of 4.01%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.12 billion. On average, equities research analysts expect that Southwest Gas Holdings, Inc. will post 3.38 earnings per share for the current year.

Southwest Gas Profile

(Free Report)

Southwest Gas Holdings, Inc, through its subsidiaries, distributes and transports natural gas in Arizona, Nevada, and California. It operates through Natural Gas Distribution, Utility Infrastructure Services, and Pipeline and Storage segments. The company also provides trenching, installation, and replacement of underground pipes, as well as maintenance services for energy distribution systems.