River Road Asset Management LLC Purchases 357 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

River Road Asset Management LLC grew its position in Southwest Gas Holdings, Inc. (NYSE:SWX) by 0.0% in the third quarter, Holdings Channel reports. The fund owned 1,172,126 shares of the utilities provider’s stock after acquiring an additional 357 shares during the quarter. Southwest Gas accounts for 1.1% of River Road Asset Management LLC’s portfolio, making the stock its 24th largest holding. River Road Asset Management LLC’s holdings in Southwest Gas were worth $86,456,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. UMB Bank n.a. lifted its stake in shares of Southwest Gas by 67.2% in the 3rd quarter. UMB Bank n.a. now owns 398 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 160 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Southwest Gas by 154.8% in the 2nd quarter. GAMMA Investing LLC now owns 428 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 260 shares during the last quarter. Waldron Private Wealth LLC bought a new position in Southwest Gas during the 3rd quarter worth $40,000. Blue Trust Inc. raised its position in Southwest Gas by 96.6% during the 2nd quarter. Blue Trust Inc. now owns 574 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 282 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in Southwest Gas during the 2nd quarter worth $49,000. 92.77% of the stock is currently owned by institutional investors.

Southwest Gas Stock Performance

SWX stock opened at $71.84 on Tuesday. The stock has a 50-day moving average price of $73.07 and a 200-day moving average price of $73.55. Southwest Gas Holdings, Inc. has a 1-year low of $57.03 and a 1-year high of $78.46. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.38. The firm has a market cap of $5.15 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 3.74 and a beta of 0.38.

Southwest Gas (NYSE:SWX) last posted its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.17). Southwest Gas had a return on equity of 6.18% and a net margin of 3.44%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the business posted $0.47 earnings per share. The business’s revenue was down 8.6% on a year-over-year basis. As a group, equities research analysts expect that Southwest Gas Holdings, Inc. will post 3.21 earnings per share for the current year.

Southwest Gas Announces Dividend

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. This represents a $2.48 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, November 15th. Southwest Gas’s dividend payout ratio (DPR) is presently 98.41%.

Analysts Set New Price Targets

Several brokerages recently issued reports on SWX. Wells Fargo & Company raised their target price on Southwest Gas from $74.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. lowered their target price on Southwest Gas from $78.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th.

Insider Transactions at Southwest Gas

In other news, CFO Robert J. Stefani sold 767 shares of Southwest Gas 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 completion of the transaction, the chief financial officer now directly owns 43,438 shares of the company’s stock, valued at approximately $3,177,055.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.39% of the company’s stock.

Southwest Gas 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.