International Assets Investment Management LLC Buys 53,498 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

International Assets Investment Management LLC lifted its position in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 9,907.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,038 shares of the utilities provider’s stock after purchasing an additional 53,498 shares during the quarter. International Assets Investment Management LLC owned about 0.08% of Southwest Gas worth $3,423,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SWX. FMR LLC lifted its position in Southwest Gas by 519.3% during the third quarter. FMR LLC now owns 782,898 shares of the utilities provider’s stock valued at $47,295,000 after purchasing an additional 656,473 shares during the period. UBS Group AG boosted its position in Southwest Gas by 140.4% in the third quarter. UBS Group AG now owns 108,032 shares of the utilities provider’s stock worth $6,526,000 after purchasing an additional 63,086 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Southwest Gas by 20.9% during the 3rd quarter. Wellington Management Group LLP now owns 851,550 shares of the utilities provider’s stock valued at $51,442,000 after purchasing an additional 147,294 shares during the period. Moody Aldrich Partners LLC increased its position in shares of Southwest Gas by 4.0% during the 3rd quarter. Moody Aldrich Partners LLC now owns 150,230 shares of the utilities provider’s stock valued at $9,075,000 after purchasing an additional 5,767 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of Southwest Gas in the 3rd quarter worth approximately $1,598,000. Institutional investors own 92.77% of the company’s stock.

Southwest Gas Stock Performance

Shares of SWX opened at $77.00 on Friday. The business has a 50-day simple moving average of $73.76 and a two-hundred day simple moving average of $65.37. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.39. Southwest Gas Holdings, Inc. has a 52 week low of $55.13 and a 52 week high of $77.01. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 3.63 and a beta of 0.36.

Southwest Gas (NYSE:SWX) last posted its earnings results on Wednesday, May 8th. The utilities provider reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.33). Southwest Gas had a net margin of 2.78% and a return on equity of 7.28%. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the previous year, the business posted $1.69 earnings per share. The business’s revenue was down 1.4% on a year-over-year basis. On average, analysts expect that Southwest Gas Holdings, Inc. will post 3.45 EPS for the current year.

Southwest Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Thursday, August 15th. Southwest Gas’s payout ratio is 116.98%.

Analyst Upgrades and Downgrades

Separately, Citigroup upped their target price on shares of Southwest Gas from $64.00 to $73.00 and gave the company a “neutral” rating in a report on Thursday, February 29th.

Southwest Gas Company Profile

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.