Maverick Capital Ltd. Has $131.15 Million Holdings in Southwest Gas Corporation $SWX

Key Points

• Maverick Capital Ltd. increased its stake in Southwest Gas Corporation by 0.9% in the first quarter, now owning 1,826,557 shares valued at approximately $131 million.
• Southwest Gas reported earnings per share of $0.53 for the last quarter, surpassing analysts' estimates of $0.42, although its quarterly revenue of $1.12 billion fell short of the expected $1.17 billion.
• Analysts' ratings for Southwest Gas have improved, with Jefferies Financial Group upgrading it to a "buy" rating and raising the target price to $82.00.

Maverick Capital Ltd. increased its holdings in Southwest Gas Corporation (NYSE:SWX - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,826,557 shares of the utilities provider's stock after purchasing an additional 16,894 shares during the quarter. Southwest Gas makes up 2.3% of Maverick Capital Ltd.'s investment portfolio, making the stock its 13th biggest holding. Maverick Capital Ltd. owned approximately 2.54% of Southwest Gas worth $131,147,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC grew its stake in shares of 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 purchasing an additional 422 shares during the last quarter. Headlands Technologies LLC grew its stake in shares of Southwest Gas by 144.0% in the first quarter. Headlands Technologies LLC now owns 510 shares of the utilities provider's stock worth $37,000 after purchasing an additional 301 shares during the last quarter. Golden State Wealth Management LLC grew its stake in shares of Southwest Gas by 1,001.8% in the first 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 during the last quarter. Quarry LP grew its stake in shares of Southwest Gas by 118.3% in the first quarter. Quarry LP now owns 751 shares of the utilities provider's stock worth $54,000 after purchasing an additional 407 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Southwest Gas by 41.2% in the first quarter. UMB Bank n.a. now owns 833 shares of the utilities provider's stock worth $60,000 after purchasing an additional 243 shares during the last quarter. Institutional investors own 92.77% of the company's stock.

Southwest Gas Stock Down 0.6%

Shares of NYSE SWX traded down $0.51 during trading on Friday, hitting $78.53. 313,043 shares of the company traded hands, compared to its average volume of 330,462. The business's fifty day moving average is $77.59 and its 200 day moving average is $74.42. Southwest Gas Corporation has a fifty-two week low of $64.69 and a fifty-two week high of $80.54. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of 29.30, a P/E/G ratio of 2.04 and a beta of 0.55. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.94 and a current ratio of 1.01.

Southwest Gas (NYSE:SWX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.11. Southwest Gas had a net margin of 4.06% and a return on equity of 6.98%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the business earned $0.25 earnings per share. The business's quarterly revenue was down 5.2% compared to the same quarter last year. Equities research analysts predict that Southwest Gas Corporation will post 3.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on SWX. LADENBURG THALM/SH SH raised shares of Southwest Gas to a "strong-buy" rating in a research report on Friday, May 9th. Jefferies Financial Group raised shares of Southwest Gas from a "hold" rating to a "buy" rating and upped their price target for the company from $74.00 to $82.00 in a research report on Tuesday, July 8th. JPMorgan Chase & Co. cut their price target 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. Wall Street Zen raised shares of Southwest Gas from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Finally, Bank of America raised shares of Southwest Gas from a "neutral" rating to a "buy" rating and upped their price target for the company from $76.00 to $84.00 in a research report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Southwest Gas has an average rating of "Moderate Buy" and an average price target of $79.75.

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.