Cubist Systematic Strategies LLC Invests $2 Million in Southwest Gas Corporation $SWX

Key Points

• Cubist Systematic Strategies LLC has acquired a new stake in Southwest Gas Corporation by purchasing 27,784 shares valued at approximately $1,995,000.
• Several large investors have also increased their holdings in Southwest Gas, contributing to institutional ownership of 92.77% of the company's stock.
• Southwest Gas recently reported quarterly earnings, exceeding estimates with an EPS of $0.53, but revenue fell short of expectations at $1.12 billion, down 5.2% year-over-year.

Cubist Systematic Strategies LLC purchased a new position in Southwest Gas Corporation (NYSE:SWX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 27,784 shares of the utilities provider's stock, valued at approximately $1,995,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position in Southwest Gas by 1,055.0% in the first quarter. Farther Finance Advisors LLC now owns 462 shares of the utilities provider's stock worth $33,000 after buying an additional 422 shares during the last quarter. Headlands Technologies LLC grew its position in Southwest Gas by 144.0% during the 1st quarter. Headlands Technologies LLC now owns 510 shares of the utilities provider's stock worth $37,000 after purchasing an additional 301 shares in the last quarter. Golden State Wealth Management LLC grew its position in Southwest Gas by 1,001.8% during the 1st quarter. Golden State Wealth Management LLC now owns 606 shares of the utilities provider's stock worth $44,000 after purchasing an additional 551 shares in the last quarter. Quarry LP grew its position in Southwest Gas by 118.3% during the 1st quarter. Quarry LP now owns 751 shares of the utilities provider's stock worth $54,000 after purchasing an additional 407 shares in the last quarter. Finally, UMB Bank n.a. grew its position in Southwest Gas by 41.2% during the 1st quarter. UMB Bank n.a. now owns 833 shares of the utilities provider's stock worth $60,000 after purchasing an additional 243 shares in the last quarter. Institutional investors and hedge funds own 92.77% of the company's stock.

Southwest Gas Stock Up 0.0%

Shares of SWX stock traded up $0.04 on Thursday, hitting $78.80. The company's stock had a trading volume of 146,799 shares, compared to its average volume of 423,124. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.94. Southwest Gas Corporation has a fifty-two week low of $64.69 and a fifty-two week high of $80.54. The firm's fifty day moving average price is $77.79 and its 200-day moving average price is $74.44. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 29.43, a P/E/G ratio of 1.99 and a beta of 0.55.

Southwest Gas (NYSE:SWX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The utilities provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.42 by $0.11. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.17 billion. Southwest Gas had a net margin of 4.06% and a return on equity of 6.98%. The business's quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 EPS. Research analysts anticipate that Southwest Gas Corporation will post 3.03 EPS for the current year.

Wall Street Analyst Weigh In

SWX has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Southwest Gas from $79.00 to $75.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Bank of America upgraded shares of Southwest Gas from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $76.00 to $84.00 in a research report on Friday, August 29th. Wall Street Zen raised shares of Southwest Gas from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Finally, Jefferies Financial Group lifted their target price on shares of Southwest Gas from $82.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $81.25.

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.