Cable Hill Partners LLC Decreases Stake in Southwest Gas Holdings, Inc. (NYSE:SWX)

Cable Hill Partners LLC lowered its holdings in Southwest Gas Holdings, Inc. (NYSE:SWX) by 33.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,306 shares of the utilities provider’s stock after selling 1,645 shares during the quarter. Cable Hill Partners LLC’s holdings in Southwest Gas were worth $244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of SWX. UMB Bank n.a. grew its holdings in shares of Southwest Gas by 67.2% in the third quarter. UMB Bank n.a. now owns 398 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 160 shares during the period. GAMMA Investing LLC grew its holdings in shares of Southwest Gas by 154.8% in the second quarter. GAMMA Investing LLC now owns 428 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 260 shares during the period. Waldron Private Wealth LLC bought a new stake in shares of Southwest Gas in the third quarter worth $40,000. Blue Trust Inc. grew its holdings in shares of Southwest Gas by 96.6% in the second quarter. Blue Trust Inc. now owns 574 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 282 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in shares of Southwest Gas in the second quarter worth $49,000. Institutional investors own 92.77% of the company’s stock.

Southwest Gas Stock Performance

NYSE:SWX opened at $76.28 on Friday. The stock has a 50-day simple moving average of $73.63 and a two-hundred day simple moving average of $73.60. Southwest Gas Holdings, Inc. has a 52-week low of $57.55 and a 52-week high of $79.03. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $5.47 billion, a PE ratio of 30.76, a P/E/G ratio of 4.08 and a beta of 0.38.

Southwest Gas (NYSE:SWX) last released its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. Southwest Gas’s revenue for the quarter was down 7.7% on a year-over-year basis. Analysts forecast that Southwest Gas Holdings, Inc. will post 3.13 EPS for the current year.

Southwest Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a $0.62 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.48 annualized dividend and a dividend yield of 3.25%. Southwest Gas’s payout ratio is 100.00%.

Analysts Set New Price Targets

Several analysts recently commented on SWX shares. JPMorgan Chase & Co. cut their price objective on Southwest Gas from $78.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Wells Fargo & Company boosted their price target on Southwest Gas from $74.00 to $78.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th.

Insider Activity

In related 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 sale, the chief financial officer now directly owns 43,438 shares in the company, valued at approximately $3,177,055.32. The trade was a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.