ProShare Advisors LLC Has $36.60 Million Holdings in Southwest Gas Holdings, Inc. (NYSE:SWX)

ProShare Advisors LLC reduced its stake in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 17.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 520,018 shares of the utilities provider’s stock after selling 109,695 shares during the quarter. ProShare Advisors LLC owned 0.73% of Southwest Gas worth $36,599,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SWX. GAMMA Investing LLC increased its position in shares of Southwest Gas by 154.8% during the 2nd quarter. GAMMA Investing LLC now owns 428 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 260 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Southwest Gas by 96.6% during the second quarter. Blue Trust Inc. now owns 574 shares of the utilities provider’s stock worth $44,000 after buying an additional 282 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Southwest Gas in the second quarter valued at about $49,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Southwest Gas during the 2nd quarter worth approximately $72,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Southwest Gas by 461.9% in the fourth quarter. Jones Financial Companies Lllp now owns 1,371 shares of the utilities provider’s stock valued at $87,000 after buying an additional 1,127 shares during the last quarter. Institutional investors own 92.77% of the company’s stock.

Analysts Set New Price Targets

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

Southwest Gas Stock Down 0.4 %

Shares of NYSE:SWX opened at $73.94 on Monday. The business’s 50 day moving average is $72.28 and its 200 day moving average is $73.44. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 3.81 and a beta of 0.38. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.38. Southwest Gas Holdings, Inc. has a 12-month low of $56.17 and a 12-month high of $78.46.

Southwest Gas (NYSE:SWX) last issued its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). Southwest Gas had a net margin of 3.44% and a return on equity of 6.18%. The firm 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 company earned $0.47 EPS. The firm’s quarterly revenue was down 8.6% on a year-over-year basis. On average, sell-side analysts forecast that Southwest Gas Holdings, Inc. will post 3.2 earnings per share for the current fiscal year.

Southwest Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.35%. Southwest Gas’s dividend payout ratio (DPR) is currently 92.88%.

Insider Buying and Selling at Southwest Gas

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

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.