Crossmark Global Holdings Inc. Has $274,000 Stake in Southwest Gas Holdings, Inc. (NYSE:SWX)

Crossmark Global Holdings Inc. lowered its stake in Southwest Gas Holdings, Inc. (NYSE:SWX) by 13.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,888 shares of the utilities provider’s stock after selling 601 shares during the period. Crossmark Global Holdings Inc.’s holdings in Southwest Gas were worth $274,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its holdings in Southwest Gas by 99.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,442 shares of the utilities provider’s stock worth $524,000 after purchasing an additional 3,718 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Southwest Gas by 6.9% in the second quarter. Bank of New York Mellon Corp now owns 1,053,094 shares of the utilities provider’s stock valued at $74,117,000 after purchasing an additional 68,254 shares during the period. Clear Creek Financial Management LLC lifted its stake in shares of Southwest Gas by 12.2% in the second quarter. Clear Creek Financial Management LLC now owns 3,293 shares of the utilities provider’s stock worth $232,000 after buying an additional 357 shares during the last quarter. Hennessy Advisors Inc. boosted its holdings in shares of Southwest Gas by 19.2% during the 2nd quarter. Hennessy Advisors Inc. now owns 87,717 shares of the utilities provider’s stock worth $6,174,000 after buying an additional 14,100 shares during the period. Finally, Blue Trust Inc. grew its stake in Southwest Gas by 96.6% in the 2nd quarter. Blue Trust Inc. now owns 574 shares of the utilities provider’s stock valued at $44,000 after buying an additional 282 shares during the last quarter. Institutional investors and hedge funds own 92.77% of the company’s stock.

Insider Activity at Southwest Gas

In other Southwest Gas news, CFO Robert J. Stefani sold 767 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $73.14, for a total value of $56,098.38. Following the completion of the sale, the chief financial officer now owns 43,438 shares in the company, valued at approximately $3,177,055.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SWX. JPMorgan Chase & Co. cut their target price on shares of Southwest Gas from $78.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Wells Fargo & Company cut their price objective on Southwest Gas from $77.00 to $74.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 7th.

Southwest Gas Trading Down 0.9 %

Shares of Southwest Gas stock opened at $71.16 on Thursday. The company has a market cap of $5.10 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 3.79 and a beta of 0.38. Southwest Gas Holdings, Inc. has a 1 year low of $56.17 and a 1 year high of $78.46. The company’s fifty day simple moving average is $72.17 and its 200-day simple moving average is $72.89. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.38.

Southwest Gas (NYSE:SWX) last posted its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.17). The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. Southwest Gas had a return on equity of 6.18% and a net margin of 3.44%. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.47 earnings per share. As a group, sell-side analysts expect that Southwest Gas Holdings, Inc. will post 3.2 EPS for the current year.

About Southwest Gas

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.