Zurcher Kantonalbank Zurich Cantonalbank Buys 2,872 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Southwest Gas Holdings, Inc. (NYSE:SWX) by 25.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,377 shares of the utilities provider’s stock after acquiring an additional 2,872 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Southwest Gas were worth $1,017,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Street Corp grew its stake in Southwest Gas by 1.0% in the third quarter. State Street Corp now owns 2,256,637 shares of the utilities provider’s stock worth $166,450,000 after purchasing an additional 22,013 shares in the last quarter. Maverick Capital Ltd. lifted its holdings in shares of Southwest Gas by 18.5% in the 3rd quarter. Maverick Capital Ltd. now owns 1,765,148 shares of the utilities provider’s stock worth $130,197,000 after buying an additional 275,992 shares during the period. Geode Capital Management LLC grew its position in shares of Southwest Gas by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,450,755 shares of the utilities provider’s stock worth $107,027,000 after buying an additional 19,922 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Southwest Gas by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,723 shares of the utilities provider’s stock valued at $70,054,000 after buying an additional 12,913 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Southwest Gas by 5.0% in the fourth quarter. Bank of New York Mellon Corp now owns 906,207 shares of the utilities provider’s stock valued at $64,078,000 after acquiring an additional 43,030 shares in the last quarter. 92.77% of the stock is owned by hedge funds and other institutional investors.

Southwest Gas Trading Up 1.4 %

NYSE:SWX opened at $76.34 on Thursday. The firm has a 50 day moving average of $74.41 and a 200 day moving average of $73.90. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 30.78, a PEG ratio of 3.16 and a beta of 0.37. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21. Southwest Gas Holdings, Inc. has a 52 week low of $64.31 and a 52 week high of $80.29.

Southwest Gas (NYSE:SWX) last posted its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.35 billion. As a group, sell-side analysts anticipate that Southwest Gas Holdings, Inc. will post 3.03 earnings per share for the current fiscal year.

Southwest Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Thursday, May 15th. Southwest Gas’s dividend payout ratio (DPR) is presently 90.18%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Bank of America reissued an “underperform” rating and set a $73.00 target price on shares of Southwest Gas in a research report on Friday, December 13th. Jefferies Financial Group started coverage on shares of Southwest Gas in a research note on Tuesday, January 14th. They issued a “hold” rating and a $73.00 price objective for the company. LADENBURG THALM/SH SH raised Southwest Gas to a “strong-buy” rating in a research report on Monday. Finally, JPMorgan Chase & Co. cut their price target on Southwest Gas from $76.00 to $72.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $74.00.

About Southwest Gas

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.