In the first quarter of the year, Macquarie Group Ltd. increased its stake in Southwest Gas Holdings, Inc. by 0.3%. According to a recent filing with the Securities and Exchange Commission (SEC), the fund now owns 940,527 shares of Southwest Gas stock, after acquiring an additional 2,920 shares over the quarter. The total value of this stake is estimated at $58,736,000 as of the most recent SEC filing.
Southwest Gas (NYSE:SWX) announced its quarterly earnings on August 9th. The company reported earnings per share (EPS) of $0.47 for the quarter, surpassing analysts’ consensus estimates by $0.08. Moreover, they achieved a positive return on equity (ROE) of 6.89%, indicating their effective utilization of investor funds. However, they faced a negative net margin of 4.01%, which implies that their profitability was affected by various costs and expenses.
During the quarter, Southwest Gas generated revenue amounting to $1.29 billion, exceeding analysts’ expectations of $1.12 billion. This positive performance indicates that the company experienced strong demand for its utilities services during this period.
Analysts are forecasting that Southwest Gas Holdings, Inc will achieve EPS of 3.38 for this year as a whole.
Several brokerages have assessed SWX recently and shared their opinions on it. StockNews.com upgraded Southwest Gas from a “sell” rating to a “hold” rating in a report released on September 5th . Citigroup also provided insight into Southwest Gas and lowered its price target from $66 to $64 in a research report dated June 1st . Lastly, according to Bloomberg.com’s data collection efforts -8808– has issued an analyst note maintaining that they rate this stock ‘maintains’.
Currently there are four hold ratings and one sell rating assigned to Southwest Gas’ stock. The average rating for the stock is “Hold”, and the consensus target price is $72.40.
In conclusion, Macquarie Group Ltd.’s increased stake in Southwest Gas Holdings, Inc. demonstrates a growing confidence in the company’s potential for growth and profitability. Southwest Gas’ positive quarterly earnings results reinforce this sentiment. While some analysts have expressed reservations, the consensus rating suggests that holding onto Southwest Gas’ stock may be a prudent move for investors.
Institutional Investors and Major Shareholder Activity Sparks Interest in Southwest Gas Holdings, Inc.
September 14, 2023 – Southwest Gas Holdings, Inc. (SWX) has recently witnessed significant activity from institutional investors and hedge funds. Alongside these transactions, major shareholder Carl C. Icahn has also made several purchases of the company’s stock. These developments have piqued the interest of market observers and analysts.
According to reports, Raymond James & Associates raised its position in Southwest Gas by 0.6% during the first quarter of this year. Following the purchase of an additional 145 shares, Raymond James now owns 22,510 shares valued at $1,762,000. Similarly, Raymond James Financial Services Advisors Inc. increased its position in Southwest Gas by 7.6% during the same period, acquiring an additional 432 shares worth $477,000.
Meanwhile, HighTower Advisors LLC boosted its position by 22.1% in the first quarter by purchasing an additional 3,109 shares valued at roughly $1,345,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS also expanded its stake in Southwest Gas by 20.6%, adding approximately 4,126 shares worth $1,890,000 to their portfolio.
Additionally, Great West Life Assurance Co., Can increased its holdings in Southwest Gas by 23.3% during the first quarter with the purchase of an extra 14,531 shares worth $6,296,000.
Collectively known as hedge funds and other institutional investors; they currently possess around 90.98% ownership of Southwest Gas stock.
In a separate development related to the company’s major shareholders’ activities: on Monday September 11th Carl C.Icahn purchased a total of approximately $3.8 million worth of Southwest Gas stock amounting to about 61- minute stocks on average value cost approximately at ($61 – $62) per share based on March’s report submitted to SEC outlining the weekly transactions by Icahn in Southwest Gas. His latest acquisition elevates his ownership of the company to 10,928190 shares valued at $671,865,121.20.
This acquisition was filed and documented with the Securities & Exchange Commission (SEC). Furthermore; SEC’s official website provides an access link for this document.
Mr.Icahn pursued another transaction on Friday September 8th ,where he bought around $1.3 million worth of Southwest Gas stocks nearly about 21,807 shares and based on the same report submitted by Mr. Icahn to SEC illustrating its weekly transactions related to SWX stocks purchase.All these shares were obtained at an average price of approximately $60.67 per share owning a total of 10,866,488 shares valued at $659,2698269.96 respectively.
This purchase was made public through an official communication from Mr.Icahn which has been officially registered on SECEdgar.Documents can be found accessible and easy with disclosure specific.
It is noteworthy that all purchases contain a promising approach for expansion due to Southwest gas being one of critical energy utilities provider in North America region.
In summary In light of these developments; industry analysts are keen to assess Southwest Gas’ current standing in the market.Varied factors such as their recent acquisitions and trends will be taken into account. Market observers note that sentiments surrounding company valuation and future prospects have driven up speculation accordingly.
Southwest Gas stock commenced trading at $63.04 per share today . As for financials ; the company exhibits a debt-to-equity ratio of 1.62 alongside its current ratio and quick ratio both tipped at 2.12.An interesting trend are noted in stock averages with simple measures including a fifty-day one now settled at $64.lO whereas two-hundred day averaged stands closer around $$61 .34.Strikingly,Southwest Gas has currently acquired market capitalization at an equivalent of $4.51 billion mark.
With a negative P/E ratio of -19.16 and a price-to-earnings-growth ratio of 3.59, market experts take note of Southwest Gas’ unique standing within the industry.The company’s relatively low beta value is set at 0.3 Furthermore, Southwest Gas has encountered its one-year high valued at $82.42 with an additional low at $53 .79 .
In conclusion, Southwest Gas Holdings’ recent activities within the financial markets have drawn attention from investors and analysts alike.Through major shareholder acquisitions and actions by institutional investors; there is ongoing evaluation to gauge the potential implications for Southwest Gas’ future performance in this dynamic energy market.