Southwest Gas Holdings, Inc. (NYSE:SWX) Major Shareholder Carl C. Icahn Acquires 26,310 Shares

Southwest Gas Holdings, Inc. (NYSE:SWXGet Rating) major shareholder Carl C. Icahn acquired 26,310 shares of the stock in a transaction dated Wednesday, March 15th. The stock was bought at an average cost of $60.09 per share, with a total value of $1,580,967.90. Following the completion of the purchase, the insider now directly owns 9,509,797 shares in the company, valued at $571,443,701.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 Trading Up 0.0 %

SWX opened at $60.32 on Friday. The stock’s fifty day moving average is $64.28 and its two-hundred day moving average is $68.32. The company has a market capitalization of $4.05 billion, a P/E ratio of -20.94, a PEG ratio of 2.46 and a beta of 0.27. Southwest Gas Holdings, Inc. has a 52 week low of $57.75 and a 52 week high of $95.62. 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 Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, May 12th. This represents a $2.48 annualized dividend and a yield of 4.11%. Southwest Gas’s payout ratio is currently -86.11%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SWX. Allianz Asset Management GmbH increased its holdings in shares of Southwest Gas by 50.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 20,292 shares of the utilities provider’s stock valued at $1,415,000 after acquiring an additional 6,833 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Southwest Gas by 27.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,554 shares of the utilities provider’s stock valued at $597,000 after acquiring an additional 1,850 shares during the period. Deutsche Bank AG increased its holdings in shares of Southwest Gas by 43.8% in the 2nd quarter. Deutsche Bank AG now owns 105,653 shares of the utilities provider’s stock valued at $9,201,000 after acquiring an additional 32,157 shares during the period. Carronade Capital Management LP increased its holdings in shares of Southwest Gas by 15.8% in the 3rd quarter. Carronade Capital Management LP now owns 535,591 shares of the utilities provider’s stock valued at $37,357,000 after acquiring an additional 73,000 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Southwest Gas by 8.0% in the 2nd quarter. Northern Trust Corp now owns 988,751 shares of the utilities provider’s stock valued at $86,100,000 after acquiring an additional 73,141 shares during the period. 87.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SWX has been the subject of a number of research analyst reports. StockNews.com initiated coverage on Southwest Gas in a research note on Thursday. They set a “sell” rating for the company. Wells Fargo & Company decreased their price target 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. TheStreet lowered Southwest Gas from a “b-” rating to a “c+” rating in a research note on Thursday, December 15th. Royal Bank of Canada reissued an “underweight” rating and set a $95.00 price target (down from $100.00) on shares of Southwest Gas in a research note on Monday, March 6th. Finally, JPMorgan Chase & Co. decreased their price target on Southwest Gas from $78.00 to $75.00 and set a “neutral” rating for the company in a research note 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $79.60.

Southwest Gas Company Profile

(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.

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

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