Ashton Thomas Private Wealth LLC Makes New Investment in Southwest Gas Holdings, Inc. (NYSE:SWX)

Ashton Thomas Private Wealth LLC purchased a new position in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,020 shares of the utilities provider’s stock, valued at approximately $72,000.

A number of other large investors have also made changes to their positions in SWX. GAMMA Investing LLC grew its position in Southwest Gas by 154.8% during the second quarter. GAMMA Investing LLC now owns 428 shares of the utilities provider’s stock worth $30,000 after buying an additional 260 shares during the period. Blue Trust Inc. increased its stake in Southwest Gas by 96.6% in the 2nd quarter. Blue Trust Inc. now owns 574 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 282 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Southwest Gas during the second quarter worth $49,000. Jones Financial Companies Lllp boosted its position in Southwest Gas by 461.9% during the fourth quarter. Jones Financial Companies Lllp now owns 1,371 shares of the utilities provider’s stock worth $87,000 after purchasing an additional 1,127 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Southwest Gas in the first quarter valued at $115,000. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Insider Activity at Southwest Gas

In other Southwest Gas news, CFO Robert J. Stefani sold 767 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $73.14, for a total transaction of $56,098.38. Following the completion of the sale, the chief financial officer now directly owns 43,438 shares in the company, valued at $3,177,055.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.39% of the stock is owned by insiders.

Southwest Gas Trading Up 3.4 %

NYSE SWX opened at $72.27 on Friday. The company has a 50-day moving average of $72.03 and a 200-day moving average of $73.28. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.58 and a quick ratio of 1.58. Southwest Gas Holdings, Inc. has a 12 month low of $56.17 and a 12 month high of $78.46. The company has a market cap of $5.18 billion, a P/E ratio of 27.07, a P/E/G ratio of 3.63 and a beta of 0.38.

Southwest Gas (NYSE:SWX) last posted its quarterly 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). Southwest Gas had a return on equity of 6.18% and a net margin of 3.44%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the business earned $0.47 EPS. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. As a group, equities analysts predict that Southwest Gas Holdings, Inc. will post 3.2 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Southwest Gas from $77.00 to $74.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their target price on Southwest Gas from $78.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th.

About Southwest Gas

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.