State of Michigan Retirement System Sells 1,500 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

State of Michigan Retirement System lessened its holdings in shares of Southwest Gas Holdings, Inc. (NYSE:SWXGet Rating) by 8.8% in the third quarter, HoldingsChannel.com reports. The fund owned 15,529 shares of the utilities provider’s stock after selling 1,500 shares during the period. State of Michigan Retirement System’s holdings in Southwest Gas were worth $1,083,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Southwest Gas by 11.6% during the 1st quarter. Vanguard Group Inc. now owns 6,646,936 shares of the utilities provider’s stock valued at $520,388,000 after acquiring an additional 690,696 shares during the last quarter. Icahn Carl C boosted its position in shares of Southwest Gas by 76.1% during the 2nd quarter. Icahn Carl C now owns 5,103,121 shares of the utilities provider’s stock valued at $444,380,000 after acquiring an additional 2,204,445 shares during the last quarter. State Street Corp boosted its position in shares of Southwest Gas by 6.4% during the 2nd quarter. State Street Corp now owns 2,139,232 shares of the utilities provider’s stock valued at $186,284,000 after acquiring an additional 129,214 shares during the last quarter. Nomura Holdings Inc. boosted its position in shares of Southwest Gas by 7.0% during the 2nd quarter. Nomura Holdings Inc. now owns 1,977,780 shares of the utilities provider’s stock valued at $173,766,000 after acquiring an additional 129,453 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Southwest Gas by 17.7% during the 2nd quarter. Principal Financial Group Inc. now owns 1,044,533 shares of the utilities provider’s stock valued at $90,959,000 after buying an additional 156,944 shares in the last quarter. Institutional investors own 87.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SWX shares. TheStreet cut Southwest Gas from a “b-” rating to a “c+” rating in a report on Thursday, December 15th. Bank of America cut Southwest Gas from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $87.00 to $65.00 in a report on Wednesday, November 30th. Wells Fargo & Company raised their price objective on Southwest Gas from $66.00 to $73.00 in a report on Wednesday, December 14th. Finally, StockNews.com cut Southwest Gas from a “hold” rating to a “sell” rating in a report on Tuesday, November 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $79.33.

Southwest Gas Price Performance

Shares of Southwest Gas stock opened at $65.17 on Friday. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.30 and a quick ratio of 1.30. The business’s 50 day simple moving average is $66.68 and its two-hundred day simple moving average is $74.84. The stock has a market capitalization of $4.37 billion, a P/E ratio of 26.60, a price-to-earnings-growth ratio of 3.07 and a beta of 0.24. Southwest Gas Holdings, Inc. has a one year low of $59.51 and a one year high of $95.62.

Southwest Gas (NYSE:SWXGet Rating) last announced its quarterly earnings results on Wednesday, November 9th. The utilities provider reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.33). The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Southwest Gas had a return on equity of 6.51% and a net margin of 3.18%. Analysts forecast that Southwest Gas Holdings, Inc. will post 3.28 EPS for the current year.

Southwest Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Wednesday, February 15th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Tuesday, February 14th. Southwest Gas’s dividend payout ratio (DPR) is currently 101.22%.

About Southwest Gas

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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.

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

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