Vident Investment Advisory LLC lessened its holdings in Southwest Gas Holdings, Inc. (NYSE:SWX – Get Rating) by 4.0% during the first quarter, Holdings Channel.com reports. The firm owned 138,695 shares of the utilities provider's stock after selling 5,765 shares during the quarter. Vident Investment Advisory LLC's holdings in Southwest Gas were worth $10,859,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in SWX. UMB Bank N A MO purchased a new position in shares of Southwest Gas in the fourth quarter worth about $25,000. Kepos Capital LP bought a new stake in Southwest Gas in the fourth quarter valued at approximately $72,000. Covestor Ltd purchased a new stake in shares of Southwest Gas during the fourth quarter valued at approximately $94,000. Point72 Hong Kong Ltd bought a new position in shares of Southwest Gas in the fourth quarter worth approximately $94,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of Southwest Gas in the first quarter worth $109,000. 89.25% of the stock is owned by institutional investors.
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Analyst Ratings Changes
A number of brokerages have issued reports on SWX. Argus raised shares of Southwest Gas from a "hold" rating to a "buy" rating and set a $100.00 price target on the stock in a report on Thursday, June 9th. StockNews.com downgraded Southwest Gas from a "hold" rating to a "sell" rating in a report on Friday. Finally, Wells Fargo & Company dropped their price objective on Southwest Gas from $101.00 to $86.00 and set an "equal weight" rating for the company in a report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $91.33.
Southwest Gas Price Performance
Shares of NYSE SWX opened at $82.13 on Friday. Southwest Gas Holdings, Inc. has a 1 year low of $62.58 and a 1 year high of $95.62. The stock has a market capitalization of $5.49 billion, a P/E ratio of 33.66, a P/E/G ratio of 3.99 and a beta of 0.16. The company's 50-day moving average is $82.05 and its 200 day moving average is $83.43. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.70 and a quick ratio of 0.70.
Southwest Gas Company Profile
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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.
Further Reading
- Get a free copy of the StockNews.com research report on Southwest Gas (SWX)
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