Texas Permanent School Fund Raises Stake in Southwest Gas Corporation (SWX)

Texas Permanent School Fund boosted its position in shares of Southwest Gas Corporation (NYSE:SWX) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,723 shares of the utilities provider’s stock after buying an additional 299 shares during the period. Texas Permanent School Fund owned 0.07% of Southwest Gas Corporation worth $2,537,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SWX. Great West Life Assurance Co. Can raised its stake in shares of Southwest Gas Corporation by 3.9% in the first quarter. Great West Life Assurance Co. Can now owns 27,975 shares of the utilities provider’s stock worth $2,319,000 after buying an additional 1,053 shares during the last quarter. Bowling Portfolio Management LLC raised its stake in shares of Southwest Gas Corporation by 5.5% in the first quarter. Bowling Portfolio Management LLC now owns 9,456 shares of the utilities provider’s stock worth $784,000 after buying an additional 495 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Southwest Gas Corporation during the first quarter worth $5,273,000. Adams Diversified Equity Fund Inc. raised its stake in shares of Southwest Gas Corporation by 2.8% in the first quarter. Adams Diversified Equity Fund Inc. now owns 14,700 shares of the utilities provider’s stock worth $1,219,000 after buying an additional 400 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Southwest Gas Corporation by 1.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 16,527 shares of the utilities provider’s stock worth $1,370,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Shares of Southwest Gas Corporation (SWX) traded down 0.43% during midday trading on Friday, reaching $78.39. 371,658 shares of the company traded hands. The firm has a market capitalization of $3.73 billion, a P/E ratio of 24.27 and a beta of 0.60. Southwest Gas Corporation has a 12 month low of $64.26 and a 12 month high of $86.65. The company has a 50 day moving average of $78.84 and a 200 day moving average of $80.70.

Southwest Gas Corporation (NYSE:SWX) last posted its quarterly earnings results on Monday, August 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.09. The firm had revenue of $560.50 million for the quarter, compared to analysts’ expectations of $564.84 million. Southwest Gas Corporation had a net margin of 6.46% and a return on equity of 9.09%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.19 earnings per share. On average, equities research analysts predict that Southwest Gas Corporation will post $3.42 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Texas Permanent School Fund Raises Stake in Southwest Gas Corporation (SWX)” was reported by Rincon Hill News and is the sole property of of Rincon Hill News. If you are accessing this piece on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://rinconhillneighbors.org/2017/08/19/southwest-gas-corporation-swx-shares-bought-by-texas-permanent-school-fund-updated.html.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Southwest Gas Corporation from a “sell” rating to a “hold” rating in a report on Saturday, April 22nd. BidaskClub upgraded shares of Southwest Gas Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, Jefferies Group LLC restated a “sell” rating and issued a $68.00 price objective on shares of Southwest Gas Corporation in a report on Tuesday, May 9th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $80.50.

In other Southwest Gas Corporation news, VP Kenneth J. Kenny sold 600 shares of the stock in a transaction 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 sale, the vice president now directly owns 17,137 shares of the company’s stock, valued at $1,386,383.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Karen S. Haller sold 1,300 shares of the stock in a transaction 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 directly owns 26,639 shares in the company, valued at $2,156,427.05. The disclosure for this sale can be found here. Corporate insiders own 1.34% of the company’s stock.

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)

Receive News & Ratings for Southwest Gas Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Gas Corporation and related companies with our FREE daily email newsletter.

 

Latest News



Leave a Reply

 
© 2006-2017 Rincon Hill News.