American International Group Inc. Has $7.06 Million Stake in Southwest Gas Holdings, Inc. (NYSE:SWX)

American International Group Inc. trimmed its position in shares of Southwest Gas Holdings, Inc. (NYSE:SWXFree Report) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,387 shares of the utilities provider’s stock after selling 3,554 shares during the period. American International Group Inc. owned 0.16% of Southwest Gas worth $7,056,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SWX. Jones Financial Companies Lllp increased its holdings in shares of Southwest Gas by 461.9% in the fourth quarter. Jones Financial Companies Lllp now owns 1,371 shares of the utilities provider’s stock valued at $87,000 after purchasing an additional 1,127 shares during the last quarter. Allworth Financial LP grew its stake in shares of Southwest Gas by 520.4% in 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. grew its stake in shares of Southwest Gas by 22.6% in 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 acquired a new position in shares of Southwest Gas in the fourth quarter valued at about $333,000. Finally, Optas LLC grew its stake in shares of Southwest Gas by 20.9% in 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. 92.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Justin L. Brown sold 2,625 shares of Southwest Gas stock in a transaction on Monday, May 13th. The shares were sold at an average price of $76.50, for a total value of $200,812.50. Following the completion of the sale, the insider now owns 23,830 shares in the company, valued at approximately $1,822,995. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.39% of the stock is currently owned by company insiders.

Southwest Gas Trading Up 0.4 %

SWX opened at $74.35 on Tuesday. The company’s 50 day moving average is $75.36 and its 200-day moving average is $68.02. Southwest Gas Holdings, Inc. has a 1-year low of $56.17 and a 1-year high of $78.46. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.39. The company has a market cap of $5.33 billion, a P/E ratio of 27.85, a PEG ratio of 3.61 and a beta of 0.39.

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

Southwest Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be paid a $0.62 dividend. The ex-dividend date is Thursday, August 15th. This represents a $2.48 annualized dividend and a dividend yield of 3.34%. Southwest Gas’s dividend payout ratio is currently 92.88%.

Analyst Ratings Changes

A number of brokerages have issued reports on SWX. Wells Fargo & Company began coverage on shares of Southwest Gas in a research note on Monday, May 13th. They set an “equal weight” rating and a $77.00 price objective on the stock. Citigroup increased their price objective on shares of Southwest Gas from $64.00 to $73.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th.

View Our Latest Stock Analysis on SWX

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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