Arizona State Retirement System Purchases 418 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

Arizona State Retirement System grew its position in shares of Southwest Gas Holdings, Inc. (NYSE:SWXGet Rating) by 2.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,323 shares of the utilities provider’s stock after buying an additional 418 shares during the period. Arizona State Retirement System’s holdings in Southwest Gas were worth $1,278,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. UMB Bank N A MO bought a new position in Southwest Gas during the 4th quarter worth $25,000. Benjamin Edwards Inc. bought a new position in Southwest Gas during the 4th quarter worth $26,000. JJJ Advisors Inc. increased its position in Southwest Gas by 41.9% during the 4th quarter. JJJ Advisors Inc. now owns 572 shares of the utilities provider’s stock worth $40,000 after buying an additional 169 shares during the period. Kepos Capital LP bought a new position in Southwest Gas during the 4th quarter worth $72,000. Finally, Covestor Ltd bought a new position in Southwest Gas during the 4th quarter worth $94,000. Institutional investors own 85.29% of the company’s stock.

Insider Activity

In other news, SVP Eric Debonis sold 3,000 shares of Southwest Gas stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $92.81, for a total transaction of $278,430.00. Following the sale, the senior vice president now directly owns 12,765 shares of the company’s stock, valued at $1,184,719.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Lori L. Colvin sold 675 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $92.74, for a total transaction of $62,599.50. Following the completion of the transaction, the chief accounting officer now directly owns 3,188 shares in the company, valued at $295,655.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Eric Debonis sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $92.81, for a total value of $278,430.00. Following the transaction, the senior vice president now owns 12,765 shares of the company’s stock, valued at $1,184,719.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,578 shares of company stock valued at $794,112. 0.79% of the stock is currently owned by corporate insiders.

Southwest Gas Stock Performance

NYSE:SWX opened at $88.03 on Tuesday. The stock’s 50-day simple moving average is $88.16 and its 200 day simple moving average is $80.85. The firm has a market capitalization of $5.88 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 3.89 and a beta of 0.13. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.31. Southwest Gas Holdings, Inc. has a twelve month low of $62.58 and a twelve month high of $95.62.

Southwest Gas (NYSE:SWXGet Rating) last released its quarterly earnings data on Monday, May 9th. The utilities provider reported $1.74 earnings per share for the quarter, missing the consensus estimate of $2.02 by ($0.28). The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.06 billion. Southwest Gas had a net margin of 4.42% and a return on equity of 7.62%. On average, analysts anticipate that Southwest Gas Holdings, Inc. will post 4.47 EPS for the current fiscal year.

Southwest Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 15th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Friday, August 12th. Southwest Gas’s dividend payout ratio (DPR) is presently 83.50%.

Analysts Set New Price Targets

Several analysts have recently issued reports on SWX shares. Wells Fargo & Company increased their target price on Southwest Gas from $84.00 to $101.00 in a report on Tuesday, May 10th. Argus raised Southwest Gas from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Thursday, June 9th. TheStreet raised Southwest Gas from a “c+” rating to a “b-” rating in a report on Monday, April 4th. Finally, StockNews.com raised Southwest Gas from a “sell” rating to a “hold” rating in a report on Monday, May 23rd.

Southwest Gas Company Profile

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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.

Further Reading

Institutional Ownership by Quarter for Southwest Gas (NYSE:SWX)

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