Carl C. Icahn Acquires 156,302 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX) Stock

Southwest Gas Holdings, Inc. (NYSE:SWXGet Rating) major shareholder Carl C. Icahn acquired 156,302 shares of the business’s stock in a transaction that occurred on Friday, March 17th. The shares were purchased at an average cost of $60.11 per share, for a total transaction of $9,395,313.22. Following the acquisition, the insider now owns 9,688,006 shares in the company, valued at $582,346,040.66. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Southwest Gas Price Performance

SWX stock opened at $60.32 on Friday. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of -20.94, a PEG ratio of 2.46 and a beta of 0.27. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.44. Southwest Gas Holdings, Inc. has a 12-month low of $57.75 and a 12-month high of $95.62. The company’s fifty day simple moving average is $64.28 and its 200 day simple moving average is $68.32.

Southwest Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Monday, May 15th will be issued a $0.62 dividend. The ex-dividend date is Friday, May 12th. This represents a $2.48 annualized dividend and a yield of 4.11%. Southwest Gas’s payout ratio is -86.11%.

Hedge Funds Weigh In On Southwest Gas

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ronald Blue Trust Inc. bought a new stake in Southwest Gas in the second quarter valued at $35,000. Bessemer Group Inc. bought a new stake in Southwest Gas in the third quarter valued at $34,000. Newbridge Financial Services Group Inc. bought a new stake in Southwest Gas in the fourth quarter valued at $31,000. Byrne Asset Management LLC increased its stake in Southwest Gas by 82.9% in the fourth quarter. Byrne Asset Management LLC now owns 556 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 252 shares in the last quarter. Finally, Accurate Wealth Management LLC bought a new stake in Southwest Gas in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 87.59% of the company’s stock.

Analyst Ratings Changes

SWX has been the subject of several recent research reports. Wells Fargo & Company lowered their price objective on Southwest Gas from $71.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, March 2nd. Royal Bank of Canada reiterated an “underweight” rating and set a $95.00 price target (down previously from $100.00) on shares of Southwest Gas in a report on Monday, March 6th. Bank of America lowered shares of Southwest Gas from a “buy” rating to a “neutral” rating and cut their price target for the stock from $87.00 to $65.00 in a report on Wednesday, November 30th. TheStreet lowered shares of Southwest Gas from a “b-” rating to a “c+” rating in a report on Thursday, December 15th. Finally, JPMorgan Chase & Co. cut their price target on shares of Southwest Gas from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, February 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from, the company has a consensus rating of “Hold” and a consensus target price of $79.60.

About Southwest Gas

(Get Rating)

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.

Further Reading

Insider Buying and Selling by Quarter for Southwest Gas (NYSE:SWX)

Receive News & Ratings for Southwest Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Gas and related companies with's FREE daily email newsletter.