Southwest Gas Corporation (NYSE:SWX) Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its shares in Southwest Gas Corporation by 2.1%, owning 970,127 shares valued at approximately $69.7 million after selling 20,596 shares.
• Southwest Gas reported $0.53 earnings per share for the latest quarter, exceeding analysts' expectations of $0.42, despite a year-over-year revenue decline of 5.2%.
• Wall Street analysts have mixed sentiments on Southwest Gas with a current average rating of "Moderate Buy" and a target price averaging around $77.25.

Charles Schwab Investment Management Inc. lowered its position in shares of Southwest Gas Corporation (NYSE:SWX - Free Report) by 2.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 970,127 shares of the utilities provider's stock after selling 20,596 shares during the period. Charles Schwab Investment Management Inc. owned 1.35% of Southwest Gas worth $69,655,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SWX. Golden State Wealth Management LLC lifted its position in 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 valued at $44,000 after acquiring an additional 551 shares during the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of Southwest Gas by 99.5% in the first quarter. Atria Wealth Solutions Inc. now owns 7,219 shares of the utilities provider's stock valued at $518,000 after buying an additional 3,600 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Southwest Gas by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,680 shares of the utilities provider's stock valued at $2,452,000 after buying an additional 1,345 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Southwest Gas in the first quarter valued at about $952,000. Finally, State of Alaska Department of Revenue raised its holdings in shares of Southwest Gas by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 7,061 shares of the utilities provider's stock valued at $506,000 after buying an additional 190 shares during the last quarter. Institutional investors and hedge funds own 92.77% of the company's stock.

Southwest Gas Stock Performance

NYSE SWX traded down $1.78 during trading hours on Friday, hitting $77.69. 564,619 shares of the stock were exchanged, compared to its average volume of 370,990. The company has a market cap of $5.59 billion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 1.98 and a beta of 0.49. Southwest Gas Corporation has a 12-month low of $64.69 and a 12-month high of $80.54. The stock has a 50-day moving average of $76.19 and a 200 day moving average of $74.25. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SWX shares. JPMorgan Chase & Co. reduced their target price on shares of Southwest Gas from $79.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. LADENBURG THALM/SH SH raised shares of Southwest Gas to a "strong-buy" rating in a report on Friday, May 9th. Bank of America raised shares of Southwest Gas from an "underperform" rating to a "neutral" rating and upped their target price for the company from $69.00 to $74.00 in a report on Friday, May 23rd. Jefferies Financial Group raised shares of Southwest Gas from a "hold" rating to a "buy" rating and upped their target price for the company from $74.00 to $82.00 in a report on Tuesday, July 8th. Finally, Wall Street Zen raised shares of Southwest Gas from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $77.25.

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.