Southwest Gas Corporation (SWX) Stake Lowered by UBS Asset Management Americas Inc.

UBS Asset Management Americas Inc. cut its holdings in Southwest Gas Corporation (NYSE:SWX) by 9.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,325 shares of the utilities provider’s stock after selling 2,793 shares during the period. UBS Asset Management Americas Inc. owned 0.06% of Southwest Gas Corporation worth $1,923,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Farmers & Merchants Investments Inc. increased its stake in shares of Southwest Gas Corporation by 0.3% in the second quarter. Farmers & Merchants Investments Inc. now owns 3,971 shares of the utilities provider’s stock worth $290,000 after purchasing an additional 12 shares during the period. Neuberger Berman Group LLC increased its stake in shares of Southwest Gas Corporation by 0.4% in the first quarter. Neuberger Berman Group LLC now owns 3,093 shares of the utilities provider’s stock worth $256,000 after purchasing an additional 13 shares during the period. US Bancorp DE increased its stake in shares of Southwest Gas Corporation by 0.4% in the second quarter. US Bancorp DE now owns 6,856 shares of the utilities provider’s stock worth $501,000 after purchasing an additional 25 shares during the period. HighTower Advisors LLC increased its stake in shares of Southwest Gas Corporation by 0.7% in the first quarter. HighTower Advisors LLC now owns 3,709 shares of the utilities provider’s stock worth $307,000 after purchasing an additional 27 shares during the period. Finally, World Asset Management Inc increased its stake in shares of Southwest Gas Corporation by 1.5% in the second quarter. World Asset Management Inc now owns 2,985 shares of the utilities provider’s stock worth $218,000 after purchasing an additional 44 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.

Southwest Gas Corporation (NYSE SWX) opened at 79.26 on Tuesday. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 24.54 and a beta of 0.61. Southwest Gas Corporation has a 52 week low of $66.84 and a 52 week high of $86.65. The company’s 50-day moving average price is $79.05 and its 200 day moving average price is $79.54.

Southwest Gas Corporation (NYSE:SWX) last issued its quarterly earnings data on Monday, August 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.09. The firm had revenue of $560.50 million during the quarter, compared to the consensus estimate of $564.84 million. Southwest Gas Corporation had a net margin of 6.46% and a return on equity of 9.09%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.19 earnings per share. On average, analysts predict that Southwest Gas Corporation will post $3.44 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.495 per share. The ex-dividend date is Tuesday, November 14th. This represents a $1.98 annualized dividend and a yield of 2.50%. Southwest Gas Corporation’s dividend payout ratio (DPR) is presently 61.11%.

In other Southwest Gas Corporation news, VP Kenneth J. Kenny sold 600 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $80.90, for a total transaction of $48,540.00. Following the completion of the sale, the vice president now directly owns 17,137 shares in the company, valued at $1,386,383.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Karen S. Haller sold 1,300 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $80.95, for a total transaction of $105,235.00. Following the sale, the senior vice president now owns 26,639 shares of the company’s stock, valued at $2,156,427.05. The disclosure for this sale can be found here. Company insiders own 0.99% of the company’s stock.

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A number of equities analysts have recently commented on SWX shares. Jefferies Group LLC upgraded Southwest Gas Corporation from an “underperform” rating to a “hold” rating and lifted their price objective for the stock from $68.00 to $70.00 in a research note on Wednesday, July 12th. BidaskClub lowered Southwest Gas Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. KeyCorp

Several other institutional investors have also bought and sold shares of the company. Farmers & Merchants Investments Inc. increased its stake in shares of Southwest Gas Corporation by 0.3% in the second quarter. Farmers & Merchants Investments Inc. now owns 3,971 shares of the utilities provider’s stock worth $290,000 after purchasing an additional 12 shares during the period. Neuberger Berman Group LLC increased its stake in shares of Southwest Gas Corporation by 0.4% in the first quarter. Neuberger Berman Group LLC now owns 3,093 shares of the utilities provider’s stock worth $256,000 after purchasing an additional 13 shares during the period. US Bancorp DE increased its stake in shares of Southwest Gas Corporation by 0.4% in the second quarter. US Bancorp DE now owns 6,856 shares of the utilities provider’s stock worth $501,000 after purchasing an additional 25 shares during the period. HighTower Advisors LLC increased its stake in shares of Southwest Gas Corporation by 0.7% in the first quarter. HighTower Advisors LLC now owns 3,709 shares of the utilities provider’s stock worth $307,000 after purchasing an additional 27 shares during the period. Finally, World Asset Management Inc increased its stake in shares of Southwest Gas Corporation by 1.5% in the second quarter. World Asset Management Inc now owns 2,985 shares of the utilities provider’s stock worth $218,000 after purchasing an additional 44 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.

Southwest Gas Corporation (NYSE SWX) opened at 79.26 on Tuesday. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 24.54 and a beta of 0.61. Southwest Gas Corporation has a 52 week low of $66.84 and a 52 week high of $86.65. The company’s 50-day moving average price is $79.05 and its 200 day moving average price is $79.54.

Southwest Gas Corporation (NYSE:SWX) last issued its quarterly earnings data on Monday, August 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.09. The firm had revenue of $560.50 million during the quarter, compared to the consensus estimate of $564.84 million. Southwest Gas Corporation had a net margin of 6.46% and a return on equity of 9.09%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.19 earnings per share. On average, analysts predict that Southwest Gas Corporation will post $3.44 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.495 per share. The ex-dividend date is Tuesday, November 14th. This represents a $1.98 annualized dividend and a yield of 2.50%. Southwest Gas Corporation’s dividend payout ratio (DPR) is presently 61.11%.

In other Southwest Gas Corporation news, VP Kenneth J. Kenny sold 600 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $80.90, for a total transaction of $48,540.00. Following the completion of the sale, the vice president now directly owns 17,137 shares in the company, valued at $1,386,383.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Karen S. Haller sold 1,300 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $80.95, for a total transaction of $105,235.00. Following the sale, the senior vice president now owns 26,639 shares of the company’s stock, valued at $2,156,427.05. The disclosure for this sale can be found here. Company insiders own 0.99% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This article was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this article on another domain, it was stolen and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this article can be accessed at https://ledgergazette.com/2017/10/17/southwest-gas-corporation-swx-stake-lowered-by-ubs-asset-management-americas-inc.html.

A number of equities analysts have recently commented on SWX shares. Jefferies Group LLC upgraded Southwest Gas Corporation from an “underperform” rating to a “hold” rating and lifted their price objective for the stock from $68.00 to $70.00 in a research note on Wednesday, July 12th. BidaskClub lowered Southwest Gas Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. KeyCorp reiterated a “hold” rating on shares of Southwest Gas Corporation in a research note on Friday, September 1st. Finally, Zacks Investment Research upgraded Southwest Gas Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $78.00.

About Southwest Gas Corporation

Southwest Gas Holdings, Inc, formerly Southwest Gas Corporation, is engaged in the business of purchasing, distributing and transporting natural gas. The Company operates through two segments: natural gas operations and construction services, which includes the operations of the Company’s subsidiary, Centuri Construction Group, Inc (Centuri).

Institutional Ownership by Quarter for Southwest Gas Corporation (NYSE:SWX)

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