Paloma Partners Management Co Makes New $271,000 Investment in Southwest Gas Holdings, Inc. (NYSE:SWX)

Paloma Partners Management Co purchased a new position in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 3,554 shares of the utilities provider’s stock, valued at approximately $271,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SWX. Jones Financial Companies Lllp raised its position in shares of 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 during the period. Public Employees Retirement System of Ohio purchased a new stake in Southwest Gas in the 1st quarter valued at $115,000. Allworth Financial LP raised its position in Southwest Gas by 520.4% in the 4th quarter. Allworth Financial LP now owns 3,071 shares of the utilities provider’s stock valued at $195,000 after buying an additional 2,576 shares during the last quarter. Assetmark Inc. raised its position in Southwest Gas by 22.6% in the 4th quarter. Assetmark Inc. now owns 3,152 shares of the utilities provider’s stock valued at $200,000 after buying an additional 581 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new stake in Southwest Gas in the 1st quarter valued at $202,000. 92.77% of the stock is currently owned by institutional investors.

Southwest Gas Stock Performance

Shares of Southwest Gas stock traded up $0.73 during trading hours on Tuesday, hitting $73.23. 63,122 shares of the company’s stock traded hands, compared to its average volume of 408,349. Southwest Gas Holdings, Inc. has a 12-month low of $56.17 and a 12-month high of $78.46. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 3.86 and a beta of 0.37. The company has a fifty day simple moving average of $73.79 and a 200-day simple moving average of $70.66. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.04 and a quick ratio of 1.04.

Southwest Gas (NYSE:SWX) last posted its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.33). The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.38 billion. Southwest Gas had a return on equity of 6.71% and a net margin of 3.56%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.69 EPS. Equities research analysts anticipate that Southwest Gas Holdings, Inc. will post 3.28 EPS for the current fiscal year.

Southwest Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be issued a dividend of $0.62 per share. The ex-dividend date is Thursday, August 15th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.39%. Southwest Gas’s dividend payout ratio is 92.88%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company initiated coverage on Southwest Gas in a research report on Monday, May 13th. They issued an “equal weight” rating and a $77.00 price target for the company.

Insiders Place Their Bets

In other Southwest Gas news, insider Justin L. Brown sold 2,625 shares of Southwest Gas stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $76.50, for a total value of $200,812.50. Following the transaction, the insider now directly owns 23,830 shares of the company’s stock, valued at approximately $1,822,995. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.39% of the company’s stock.

Southwest Gas Company 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.