Channing Capital Management LLC Has $89.81 Million Stock Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

Channing Capital Management LLC grew its position in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,270,072 shares of the utilities provider’s stock after buying an additional 4,235 shares during the quarter. Southwest Gas accounts for approximately 2.4% of Channing Capital Management LLC’s investment portfolio, making the stock its 10th biggest holding. Channing Capital Management LLC’s holdings in Southwest Gas were worth $89,807,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Maverick Capital Ltd. lifted its holdings in Southwest Gas by 18.5% during the third quarter. Maverick Capital Ltd. now owns 1,765,148 shares of the utilities provider’s stock worth $130,197,000 after acquiring an additional 275,992 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Southwest Gas during the 4th quarter valued at $6,946,000. Zimmer Partners LP bought a new stake in shares of Southwest Gas during the 3rd quarter worth $6,823,000. Barclays PLC boosted its holdings in shares of Southwest Gas by 192.7% in the 3rd quarter. Barclays PLC now owns 105,134 shares of the utilities provider’s stock worth $7,755,000 after buying an additional 69,212 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in Southwest Gas by 107.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 83,306 shares of the utilities provider’s stock valued at $6,145,000 after buying an additional 43,131 shares during the period. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Southwest Gas Price Performance

SWX opened at $72.74 on Tuesday. The firm has a 50-day moving average price of $73.87 and a 200-day moving average price of $73.80. Southwest Gas Holdings, Inc. has a twelve month low of $64.31 and a twelve month high of $80.29. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of 29.33, a PEG ratio of 3.16 and a beta of 0.37.

Southwest Gas (NYSE:SWX) last released its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.35 billion. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. Equities analysts expect that Southwest Gas Holdings, Inc. will post 3.03 EPS for the current year.

Southwest Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.41%. Southwest Gas’s payout ratio is 90.18%.

Analyst Upgrades and Downgrades

Several analysts have commented on SWX shares. JPMorgan Chase & Co. lowered their price objective on shares of Southwest Gas from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Jefferies Financial Group initiated coverage on shares of Southwest Gas in a research note on Tuesday, January 14th. They set a “hold” rating and a $73.00 price target for the company. LADENBURG THALM/SH SH upgraded Southwest Gas to a “strong-buy” rating in a research note on Friday, January 24th. Finally, Bank of America reissued an “underperform” rating and issued a $73.00 target price on shares of Southwest Gas in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Southwest Gas currently has a consensus rating of “Hold” and an average price target of $74.00.

Southwest Gas Company 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.