CI Investments Inc. Buys 2,130 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

CI Investments Inc. increased its stake in Southwest Gas Holdings, Inc. (NYSE:SWX – Get Rating) by 53,250.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,134 shares of the utilities provider’s stock after acquiring an additional 2,130 shares during the quarter. CI Investments Inc.’s holdings in Southwest Gas were worth $132,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SWX. Raymond James & Associates increased its stake in shares of Southwest Gas by 0.6% in the 1st quarter. Raymond James & Associates now owns 22,510 shares of the utilities provider’s stock valued at $1,762,000 after acquiring an additional 145 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Southwest Gas by 7.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 6,088 shares of the utilities provider’s stock valued at $477,000 after purchasing an additional 432 shares during the period. HighTower Advisors LLC grew its position in Southwest Gas by 22.1% in the 1st quarter. HighTower Advisors LLC now owns 17,171 shares of the utilities provider’s stock valued at $1,345,000 after purchasing an additional 3,109 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Southwest Gas by 20.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 24,146 shares of the utilities provider’s stock valued at $1,890,000 after purchasing an additional 4,126 shares during the period. Finally, Great West Life Assurance Co. Can grew its position in Southwest Gas by 23.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 76,924 shares of the utilities provider’s stock valued at $6,296,000 after purchasing an additional 14,531 shares during the period. Institutional investors own 87.59% of the company’s stock.

Insider Transactions at Southwest Gas

In other Southwest Gas news, major shareholder Carl C. Icahn bought 15,681 shares of the stock in a transaction dated Wednesday, May 24th. The shares were bought at an average cost of $57.98 per share, for a total transaction of $909,184.38. Following the purchase, the insider now directly owns 10,610,217 shares of the company’s stock, valued at approximately $615,180,381.66. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, major shareholder Carl C. Icahn acquired 15,681 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were acquired at an average cost of $57.98 per share, for a total transaction of $909,184.38. Following the purchase, the insider now owns 10,610,217 shares of the company’s stock, valued at approximately $615,180,381.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Carl C. Icahn acquired 70,683 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was purchased at an average price of $57.91 per share, for a total transaction of $4,093,252.53. Following the completion of the purchase, the insider now directly owns 10,591,283 shares in the company, valued at approximately $613,341,198.53. The disclosure for this purchase can be found here. Insiders have acquired 3,322,986 shares of company stock worth $199,585,422 in the last ninety days. Company insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SWX shares. StockNews.com started coverage on shares of Southwest Gas in a research report on Thursday, May 18th. They issued a “sell” rating for the company. Royal Bank of Canada reissued an “underweight” rating and issued a $95.00 price target (down previously from $100.00) on shares of Southwest Gas in a research report on Monday, March 6th. JPMorgan Chase & Co. cut their price objective 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. Finally, Wells Fargo & Company cut their price objective on shares of Southwest Gas from $71.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, March 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $79.60.

Southwest Gas Price Performance

SWX opened at $58.03 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.39. The firm’s fifty day moving average price is $58.43 and its two-hundred day moving average price is $62.88. Southwest Gas Holdings, Inc. has a 1 year low of $53.79 and a 1 year high of $95.62.

Southwest Gas (NYSE:SWX – Get Rating) last released its earnings results on Tuesday, February 28th. The utilities provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.41). The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.22 billion. Southwest Gas had a positive return on equity of 6.24% and a negative net margin of 4.79%. On average, equities analysts anticipate that Southwest Gas Holdings, Inc. will post 3.5 EPS for the current year.

Southwest Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date is Monday, August 14th. Southwest Gas’s payout ratio is -65.44%.

Southwest Gas Company Profile

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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.