Southwest Gas Holdings, Inc. (NYSE:SWX) is Channing Capital Management LLC’s 8th Largest Position

Channing Capital Management LLC trimmed its stake in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 9.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,191,793 shares of the utilities provider’s stock after selling 125,441 shares during the period. Southwest Gas accounts for 2.2% of Channing Capital Management LLC’s portfolio, making the stock its 8th largest holding. Channing Capital Management LLC owned approximately 1.67% of Southwest Gas worth $75,500,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of SWX. FMR LLC lifted its position in Southwest Gas by 519.3% during the third quarter. FMR LLC now owns 782,898 shares of the utilities provider’s stock valued at $47,295,000 after purchasing an additional 656,473 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Southwest Gas by 160.0% during the third quarter. Adage Capital Partners GP L.L.C. now owns 325,000 shares of the utilities provider’s stock valued at $19,633,000 after purchasing an additional 200,000 shares during the last quarter. Carronade Capital Management LP lifted its holdings in shares of Southwest Gas by 34.1% in the 3rd quarter. Carronade Capital Management LP now owns 585,394 shares of the utilities provider’s stock worth $35,364,000 after acquiring an additional 148,826 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Southwest Gas by 20.9% in the 3rd quarter. Wellington Management Group LLP now owns 851,550 shares of the utilities provider’s stock worth $51,442,000 after acquiring an additional 147,294 shares during the last quarter. Finally, UBS Group AG lifted its holdings in shares of Southwest Gas by 140.4% in the 3rd quarter. UBS Group AG now owns 108,032 shares of the utilities provider’s stock worth $6,526,000 after acquiring an additional 63,086 shares during the last quarter. 92.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Citigroup raised their target price on shares of Southwest Gas from $64.00 to $73.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th.

Southwest Gas Trading Down 0.3 %

Shares of Southwest Gas stock traded down $0.20 during trading on Friday, hitting $75.13. The stock had a trading volume of 241,228 shares, compared to its average volume of 489,192. The firm’s fifty day simple moving average is $72.85 and its 200-day simple moving average is $64.91. The stock has a market cap of $5.38 billion, a PE ratio of 35.44, a PEG ratio of 3.63 and a beta of 0.36. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.12 and a quick ratio of 1.12. Southwest Gas Holdings, Inc. has a 12 month low of $53.79 and a 12 month high of $76.75.

Southwest Gas (NYSE:SWX) last posted its quarterly earnings results on Wednesday, February 28th. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $0.97 by $0.16. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.27 billion. Southwest Gas had a net margin of 2.78% and a return on equity of 7.28%. As a group, sell-side analysts expect that Southwest Gas Holdings, Inc. will post 3.45 EPS for the current fiscal year.

Southwest Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.30%. The ex-dividend date is Thursday, August 15th. Southwest Gas’s dividend payout ratio is presently 116.98%.

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.