PNC Financial Services Group Inc. Sells 3,174 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

PNC Financial Services Group Inc. decreased its position in Southwest Gas Holdings, Inc. (NYSE:SWXFree Report) by 38.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,022 shares of the utilities provider’s stock after selling 3,174 shares during the period. PNC Financial Services Group Inc.’s holdings in Southwest Gas were worth $318,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Southwest Gas by 519.3% during the third quarter. FMR LLC now owns 782,898 shares of the utilities provider’s stock worth $47,295,000 after buying an additional 656,473 shares during the last quarter. Mariner LLC raised its position in shares of Southwest Gas by 5.4% during the 3rd quarter. Mariner LLC now owns 9,860 shares of the utilities provider’s stock valued at $596,000 after acquiring an additional 504 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Southwest Gas by 24.0% in the 3rd quarter. Federated Hermes Inc. now owns 8,370 shares of the utilities provider’s stock valued at $506,000 after purchasing an additional 1,620 shares during the period. Trexquant Investment LP bought a new position in shares of Southwest Gas in the 3rd quarter worth $551,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Southwest Gas during the third quarter worth $3,481,000. 92.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wells Fargo & Company initiated coverage on Southwest Gas in a report on Monday, May 13th. They set an “equal weight” rating and a $77.00 target price on the stock.

View Our Latest Analysis on Southwest Gas

Insider Buying and Selling

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 shares were sold at an average price of $76.50, for a total value of $200,812.50. Following the transaction, the insider now owns 23,830 shares of the company’s stock, valued at $1,822,995. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.39% of the stock is owned by company insiders.

Southwest Gas Stock Down 2.8 %

Shares of NYSE:SWX opened at $70.38 on Friday. The company has a 50 day moving average price of $75.11 and a two-hundred day moving average price of $69.32. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $5.04 billion, a PE ratio of 26.36, a PEG ratio of 3.58 and a beta of 0.39. Southwest Gas Holdings, Inc. has a 52 week low of $56.17 and a 52 week high of $78.46.

Southwest Gas (NYSE:SWXGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $1.37 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 firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the company earned $1.69 EPS. Southwest Gas’s quarterly revenue was down 1.4% on a year-over-year basis. Analysts forecast that Southwest Gas Holdings, Inc. will post 3.37 earnings per share for the current year.

Southwest Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be given a $0.62 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.48 annualized dividend and a dividend yield of 3.52%. Southwest Gas’s dividend payout ratio is presently 92.88%.

Southwest Gas 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.

See Also

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Institutional Ownership by Quarter for Southwest Gas (NYSE:SWX)

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