American International Group Inc. Sells 3,554 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

American International Group Inc. lessened its holdings in shares of Southwest Gas Holdings, Inc. (NYSE:SWXFree Report) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,387 shares of the utilities provider’s stock after selling 3,554 shares during the quarter. American International Group Inc.’s holdings in Southwest Gas were worth $7,056,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SWX. Jones Financial Companies Lllp raised its holdings in Southwest Gas by 461.9% in the fourth quarter. Jones Financial Companies Lllp now owns 1,371 shares of the utilities provider’s stock worth $87,000 after purchasing an additional 1,127 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Southwest Gas by 520.4% during the fourth quarter. Allworth Financial LP now owns 3,071 shares of the utilities provider’s stock valued at $195,000 after acquiring an additional 2,576 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Southwest Gas by 22.6% during the fourth quarter. Assetmark Inc. now owns 3,152 shares of the utilities provider’s stock valued at $200,000 after acquiring an additional 581 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Southwest Gas during the fourth quarter valued at $333,000. Finally, Optas LLC increased its holdings in shares of Southwest Gas by 20.9% during the fourth quarter. Optas LLC now owns 5,500 shares of the utilities provider’s stock valued at $348,000 after acquiring an additional 951 shares in the last quarter. Institutional investors own 92.77% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on SWX. Wells Fargo & Company began coverage on Southwest Gas in a research report on Monday, May 13th. They set an “equal weight” rating and a $77.00 price objective on the stock. Citigroup raised their target price on Southwest Gas from $64.00 to $73.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th.

Get Our Latest Stock Report on SWX

Southwest Gas Stock Up 0.4 %

NYSE SWX opened at $74.35 on Tuesday. The stock’s 50-day moving average price is $75.36 and its 200-day moving average price is $68.02. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.39. Southwest Gas Holdings, Inc. has a 52 week low of $56.17 and a 52 week high of $78.46. The company has a market capitalization of $5.33 billion, a P/E ratio of 27.85, a price-to-earnings-growth ratio of 3.61 and a beta of 0.39.

Southwest Gas (NYSE:SWXGet Free Report) last issued its earnings results on Wednesday, May 8th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.33). The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.38 billion. Southwest Gas had a net margin of 3.56% and a return on equity of 6.71%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the business posted $1.69 EPS. On average, equities research analysts predict that Southwest Gas Holdings, Inc. will post 3.42 earnings per share for the current year.

Southwest Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Thursday, August 15th. Southwest Gas’s dividend payout ratio (DPR) is presently 92.88%.

Insiders Place Their Bets

In other Southwest Gas news, insider Justin L. Brown sold 2,625 shares of Southwest Gas stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $76.50, for a total value of $200,812.50. Following the sale, the insider now owns 23,830 shares of the company’s stock, valued at approximately $1,822,995. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Southwest Gas Company Profile

(Free Report)

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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