International Assets Investment Management LLC Has $3.77 Million Holdings in Southwest Gas Holdings, Inc. (NYSE:SWX)

International Assets Investment Management LLC boosted its position in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 7,276.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,042 shares of the utilities provider’s stock after purchasing an additional 50,350 shares during the period. International Assets Investment Management LLC’s holdings in Southwest Gas were worth $3,765,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Southwest Gas by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 985,566 shares of the utilities provider’s stock valued at $69,370,000 after buying an additional 84,987 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Southwest Gas by 6.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,053,094 shares of the utilities provider’s stock valued at $74,117,000 after acquiring an additional 68,254 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Southwest Gas by 41.9% during the second quarter. Victory Capital Management Inc. now owns 206,114 shares of the utilities provider’s stock worth $14,506,000 after acquiring an additional 60,856 shares during the period. Gamco Investors INC. ET AL grew its position in shares of Southwest Gas by 3.6% in the first quarter. Gamco Investors INC. ET AL now owns 889,426 shares of the utilities provider’s stock valued at $67,712,000 after purchasing an additional 31,063 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Southwest Gas by 266.0% during the 2nd quarter. Millennium Management LLC now owns 37,595 shares of the utilities provider’s stock worth $2,646,000 after purchasing an additional 27,323 shares during the last quarter. Institutional investors and hedge funds own 92.77% of the company’s stock.

Insider Activity

In related news, CFO Robert J. Stefani sold 767 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $73.14, for a total transaction of $56,098.38. Following the completion of the sale, the chief financial officer now directly owns 43,438 shares in the company, valued at $3,177,055.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SWX. Wells Fargo & Company boosted their target price on shares of Southwest Gas from $74.00 to $78.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. decreased their target price on shares of Southwest Gas from $78.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th.

Southwest Gas Stock Down 1.6 %

Shares of NYSE SWX opened at $72.05 on Friday. Southwest Gas Holdings, Inc. has a 52 week low of $57.03 and a 52 week high of $78.46. The stock’s fifty day moving average is $73.07 and its 200 day moving average is $73.55. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.58 and a current ratio of 1.58. The stock has a market capitalization of $5.17 billion, a P/E ratio of 28.59, a PEG ratio of 3.82 and a beta of 0.38.

Southwest Gas (NYSE:SWX) last issued its earnings results on Tuesday, August 6th. The utilities provider reported $0.31 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.17). The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. Southwest Gas had a net margin of 3.44% and a return on equity of 6.18%. Southwest Gas’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 earnings per share. Sell-side analysts forecast that Southwest Gas Holdings, Inc. will post 3.21 earnings per share for the current fiscal year.

Southwest Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Friday, November 15th. Southwest Gas’s dividend payout ratio is presently 98.41%.

Southwest Gas 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.