Trexquant Investment LP Sells 44,623 Shares of Southwest Gas Corporation $SWX

Key Points

• Trexquant Investment LP reduced its stake in Southwest Gas Corporation (SWX) by 32.1%, selling 44,623 shares and holding 94,521 shares valued at approximately $6.79 million after the sale.
• Several institutional investors have recently increased their positions in Southwest Gas, with UMB Bank n.a. boosting its holdings by 41.2% and Headlands Technologies LLC by 144.0% during the first quarter.
• Analysts have provided mixed ratings on Southwest Gas, with upgrades from Bank of America and Jefferies Financial Group, while JPMorgan Chase & Co. lowered its price target, resulting in a consensus rating of "Moderate Buy".

Trexquant Investment LP reduced its stake in Southwest Gas Corporation (NYSE:SWX - Free Report) by 32.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,521 shares of the utilities provider's stock after selling 44,623 shares during the period. Trexquant Investment LP owned about 0.13% of Southwest Gas worth $6,787,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SWX. State of Alaska Department of Revenue raised its stake in Southwest Gas by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 7,061 shares of the utilities provider's stock worth $506,000 after acquiring an additional 190 shares during the period. State of Michigan Retirement System grew its holdings in shares of Southwest Gas by 1.4% in the first quarter. State of Michigan Retirement System now owns 14,429 shares of the utilities provider's stock valued at $1,036,000 after purchasing an additional 200 shares during the period. Louisiana State Employees Retirement System raised its holdings in Southwest Gas by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 16,900 shares of the utilities provider's stock valued at $1,213,000 after acquiring an additional 200 shares in the last quarter. UMB Bank n.a. grew its position in Southwest Gas by 41.2% in the 1st quarter. UMB Bank n.a. now owns 833 shares of the utilities provider's stock valued at $60,000 after buying an additional 243 shares during the last quarter. Finally, Headlands Technologies LLC lifted its holdings in shares of 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 acquiring an additional 301 shares during the period. Institutional investors own 92.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SWX shares. LADENBURG THALM/SH SH upgraded shares of Southwest Gas to a "strong-buy" rating in a report on Friday, May 9th. Bank of America upgraded shares of Southwest Gas from a "neutral" rating to a "buy" rating and upped their price target 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 report on Friday, June 27th. Jefferies Financial Group upgraded shares of Southwest Gas from a "hold" rating to a "buy" rating and boosted their price target for the stock from $74.00 to $82.00 in a research note on Tuesday, July 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Southwest Gas from $79.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Southwest Gas has an average rating of "Moderate Buy" and an average target price of $79.75.

Southwest Gas Stock Performance

Southwest Gas stock traded down $0.63 during mid-day trading on Friday, reaching $78.41. The company had a trading volume of 71,433 shares, compared to its average volume of 423,133. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 29.25, a PEG ratio of 2.05 and a beta of 0.55. 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 Corporation has a 52 week low of $64.69 and a 52 week high of $80.54. The company has a 50 day moving average of $77.50 and a 200-day moving average of $74.42.

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

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.