Captrust Financial Advisors reduced its stake in Southwest Gas Holdings, Inc. (NYSE:SWX – Free Report) by 38.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,986 shares of the utilities provider’s stock after selling 1,882 shares during the quarter. Captrust Financial Advisors’ holdings in Southwest Gas were worth $220,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. Citigroup Inc. increased its stake in Southwest Gas by 234.1% during the 3rd quarter. Citigroup Inc. now owns 53,403 shares of the utilities provider’s stock worth $3,939,000 after buying an additional 37,418 shares during the period. Victory Capital Management Inc. increased its stake in Southwest Gas by 41.9% during the 2nd quarter. Victory Capital Management Inc. now owns 206,114 shares of the utilities provider’s stock worth $14,506,000 after buying an additional 60,856 shares during the period. Summit Global Investments purchased a new stake in Southwest Gas during the 3rd quarter worth approximately $1,349,000. New York State Common Retirement Fund increased its stake in Southwest Gas by 3.0% during the 3rd quarter. New York State Common Retirement Fund now owns 267,589 shares of the utilities provider’s stock worth $19,737,000 after buying an additional 7,858 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Southwest Gas by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 977,810 shares of the utilities provider’s stock worth $72,123,000 after buying an additional 35,106 shares during the period. 92.77% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
SWX has been the topic of several recent research reports. Bank of America reaffirmed an “underperform” rating and set a $73.00 target price on shares of Southwest Gas in a research note on Friday. Wells Fargo & Company upped their target price on shares of Southwest Gas from $74.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $73.50.
Get Our Latest Analysis on SWX
Southwest Gas Trading Down 1.8 %
Shares of Southwest Gas stock opened at $72.85 on Monday. The company has a fifty day simple moving average of $75.38 and a 200-day simple moving average of $73.68. Southwest Gas Holdings, Inc. has a 12-month low of $57.55 and a 12-month high of $80.29. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 3.84 and a beta of 0.41.
Southwest Gas (NYSE:SWX – Get Free Report) last issued its earnings results on Wednesday, November 6th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the business posted $0.10 EPS. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, equities analysts forecast that Southwest Gas Holdings, Inc. will post 3.16 EPS for the current fiscal year.
Southwest Gas Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Tuesday, February 18th. Southwest Gas’s payout ratio is 100.00%.
Insider Activity
In related news, major shareholder Carl C. Icahn sold 1,390,000 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $76.74, for a total transaction of $106,668,600.00. Following the completion of the sale, the insider now owns 9,632,604 shares in the company, valued at $739,206,030.96. This represents a 12.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.39% of the company’s stock.
Southwest Gas Profile
(Free Report)
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.
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