Southwest Gas Holdings, Inc. (NYSE:SWX – Get Rating) major shareholder Carl C. Icahn bought 238,785 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was acquired at an average cost of $59.89 per share, for a total transaction of $14,300,833.65. Following the purchase, the insider now owns 9,483,250 shares in the company, valued at approximately $567,951,842.50. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Southwest Gas Price Performance
Shares of SWX stock opened at $61.15 on Wednesday. The firm has a market cap of $4.11 billion, a P/E ratio of -21.47, a P/E/G ratio of 2.41 and a beta of 0.27. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.08 and a quick ratio of 1.08. Southwest Gas Holdings, Inc. has a 1-year low of $57.75 and a 1-year high of $95.62. The firm has a fifty day moving average of $64.51 and a two-hundred day moving average of $68.70.
Southwest Gas Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Monday, May 15th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Friday, May 12th. Southwest Gas’s dividend payout ratio is currently -86.11%.
Institutional Inflows and Outflows
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on SWX. JPMorgan Chase & Co. cut their target price on shares of Southwest Gas from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 7th. Royal Bank of Canada reaffirmed an “underweight” rating and set a $95.00 price target (down from $100.00) on shares of Southwest Gas in a report on Monday, March 6th. TheStreet lowered shares of Southwest Gas from a “b-” rating to a “c+” rating in a report on Thursday, December 15th. Bank of America lowered shares of Southwest Gas from a “buy” rating to a “neutral” rating and lowered their price target for the company from $87.00 to $65.00 in a report on Wednesday, November 30th. Finally, StockNews.com lowered shares of Southwest Gas from a “hold” rating to a “sell” rating in a report on Wednesday, March 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $79.60.
About Southwest Gas
Southwest Gas Holdings, Inc engages in the energy business. It operates through the following business segments: Natural Gas Operations and Utility Infrastructure Services. The Natural Gas Operations segment focuses on purchasing, distribution, and transportation of natural gas in Arizona, California, and Nevada.
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