O Keefe Stevens Advisory Inc. raised its holdings in Southwest Gas Holdings, Inc. (NYSE:SWX – Free Report) by 45.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,775 shares of the utilities provider’s stock after buying an additional 3,654 shares during the period. O Keefe Stevens Advisory Inc.’s holdings in Southwest Gas were worth $833,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Southwest Gas by 1.0% in the third quarter. State Street Corp now owns 2,256,637 shares of the utilities provider’s stock valued at $166,450,000 after acquiring an additional 22,013 shares during the last quarter. Maverick Capital Ltd. boosted its holdings in shares of Southwest Gas by 18.5% in the 3rd quarter. Maverick Capital Ltd. now owns 1,765,148 shares of the utilities provider’s stock valued at $130,197,000 after buying an additional 275,992 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Southwest Gas by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,450,755 shares of the utilities provider’s stock valued at $107,027,000 after buying an additional 19,922 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Southwest Gas by 9.4% during the second quarter. Dimensional Fund Advisors LP now owns 985,566 shares of the utilities provider’s stock worth $69,370,000 after buying an additional 84,987 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Southwest Gas by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 977,810 shares of the utilities provider’s stock worth $72,123,000 after acquiring an additional 35,106 shares in the last quarter. 92.77% of the stock is owned by institutional investors.
Analysts Set New Price Targets
SWX has been the topic of several recent analyst reports. Jefferies Financial Group began coverage on shares of Southwest Gas in a research note on Tuesday. They set a “hold” rating and a $73.00 price objective on the stock. Bank of America reaffirmed an “underperform” rating and issued a $73.00 price objective on shares of Southwest Gas in a research report on Friday, December 13th. Finally, Wells Fargo & Company increased their price target on Southwest Gas from $74.00 to $78.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, Southwest Gas presently has a consensus rating of “Hold” and an average price target of $73.40.
Southwest Gas Stock Performance
NYSE:SWX opened at $72.29 on Friday. 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 50 day simple moving average of $73.57 and a 200 day simple moving average of $73.05. Southwest Gas Holdings, Inc. has a 1-year low of $57.55 and a 1-year high of $80.29. The stock has a market cap of $5.19 billion, a P/E ratio of 29.15, a PEG ratio of 2.87 and a beta of 0.43.
Southwest Gas (NYSE:SWX – Get Free Report) last announced its earnings results on Wednesday, November 6th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the business posted $0.10 earnings per share. Southwest Gas’s quarterly revenue was down 7.7% on a year-over-year basis. Research analysts anticipate that Southwest Gas Holdings, Inc. will post 3.12 earnings per share for the current year.
Southwest Gas Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be given a $0.62 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.43%. Southwest Gas’s payout ratio is 100.00%.
Insider Activity at Southwest Gas
In related news, major shareholder Carl C. Icahn sold 1,390,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $76.74, for a total value of $106,668,600.00. Following the transaction, the insider now owns 9,632,604 shares in the company, valued at approximately $739,206,030.96. This trade represents a 12.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.39% of the stock is currently owned by corporate insiders.
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.
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