Hsbc Holdings PLC Sells 87,811 Shares of Southwest Gas Corporation $SWX

Key Points

• HSBC Holdings reduced its Southwest Gas stake by 69% in the second quarter, selling 87,811 shares and retaining 39,447 shares valued at approximately $3.5 million. Institutional investors collectively own 92.77% of the company.
• Analysts maintain a generally positive outlook, with five Buy ratings and one Hold rating. Southwest Gas has a consensus price target of $103.20, compared with a recent share price of $86.93.
• Southwest Gas reported quarterly EPS of $0.45, in line with estimates, but revenue fell 9.6% year over year to $358.15 million. The company also pays a quarterly dividend of $0.645 per share, representing a 3.0% annualized yield.

Hsbc Holdings PLC trimmed its holdings in shares of Southwest Gas Corporation (NYSE:SWX - Free Report) by 69.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,447 shares of the utilities provider's stock after selling 87,811 shares during the quarter. Hsbc Holdings PLC owned approximately 0.05% of Southwest Gas worth $3,513,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of Southwest Gas by 19.2% during the second quarter. Wellington Management Group LLP now owns 271,519 shares of the utilities provider's stock worth $24,078,000 after purchasing an additional 43,714 shares in the last quarter. Kingsview Wealth Management LLC purchased a new position in Southwest Gas during the 2nd quarter worth $207,000. Empowered Funds LLC purchased a new position in Southwest Gas during the 2nd quarter worth $321,000. Public Employees Retirement System of Ohio acquired a new position in Southwest Gas during the 2nd quarter valued at about $3,323,000. Finally, Capstone Investment Advisors LLC acquired a new position in Southwest Gas during the 2nd quarter valued at about $3,018,000. Institutional investors own 92.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SWX shares. Mizuho set a $103.00 price target on shares of Southwest Gas in a report on Wednesday, August 5th. Wall Street Zen lowered shares of Southwest Gas from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Wells Fargo & Company upped their target price on Southwest Gas from $105.00 to $107.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Finally, Weiss Ratings upgraded Southwest Gas from a "buy (b)" rating to a "buy (b+)" rating in a research note on Monday, August 31st. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $103.20.

Southwest Gas Stock Down 1.1%

Southwest Gas stock opened at $86.93 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.12 and a quick ratio of 0.99. The stock has a market capitalization of $6.30 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 2.09 and a beta of 0.57. The business has a 50 day simple moving average of $90.67 and a 200-day simple moving average of $89.42. Southwest Gas Corporation has a 12 month low of $76.74 and a 12 month high of $94.46.

Southwest Gas (NYSE:SWX - Get Free Report) last released its earnings results on Wednesday, August 5th. The utilities provider reported $0.45 EPS for the quarter, hitting analysts' consensus estimates of $0.45. Southwest Gas had a net margin of 31.85% and a return on equity of 6.79%. The business had revenue of $358.15 million during the quarter, compared to analysts' expectations of $416.20 million. During the same quarter in the previous year, the company earned ($0.18) earnings per share. The company's quarterly revenue was down 9.6% on a year-over-year basis. Southwest Gas has set its FY 2026 guidance at 4.170-4.320 EPS. On average, analysts anticipate that Southwest Gas Corporation will post 4.25 EPS for the current fiscal year.

Southwest Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were given a dividend of $0.645 per share. This represents a $2.58 annualized dividend and a yield of 3.0%. The ex-dividend date was Monday, August 17th. Southwest Gas's dividend payout ratio (DPR) is presently 33.68%.

About Southwest Gas

Southwest Gas Holdings, Inc is a regulated energy company that provides natural gas distribution services through its subsidiary, Southwest Gas Corporation. The utility delivers natural gas to residential, commercial and industrial customers, primarily in Arizona, Nevada and portions of California, serving communities across the desert Southwest.

The company's utility operations include the acquisition, transportation and distribution of natural gas through a network of pipelines and related infrastructure.

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