Southwest Gas Holdings, Inc. (NYSE:SWX) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its position in Southwest Gas Holdings, Inc. (NYSE:SWX) by 7.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,136 shares of the utilities provider’s stock after selling 2,442 shares during the quarter. Amalgamated Bank’s holdings in Southwest Gas were worth $2,051,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC grew its position in Southwest Gas by 154.8% in the second quarter. GAMMA Investing LLC now owns 428 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 260 shares during the period. Blue Trust Inc. increased its position in shares of Southwest Gas by 96.6% during the 2nd quarter. Blue Trust Inc. now owns 574 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 282 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Southwest Gas in the 2nd quarter valued at about $49,000. Ashton Thomas Private Wealth LLC acquired a new position in Southwest Gas in the second quarter valued at about $72,000. Finally, Jones Financial Companies Lllp lifted its position 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 valued at $87,000 after buying an additional 1,127 shares during the last quarter. Hedge funds and other institutional investors 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 that occurred on Monday, August 26th. The shares were sold at an average price of $73.14, for a total transaction of $56,098.38. Following the sale, the chief financial officer now directly owns 43,438 shares in the company, valued at $3,177,055.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

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

Southwest Gas Trading Up 1.6 %

NYSE SWX opened at $75.03 on Thursday. 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 firm has a market cap of $5.38 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 3.89 and a beta of 0.38. The firm has a 50 day simple moving average of $72.34 and a 200-day simple moving average of $73.46. Southwest Gas Holdings, Inc. has a one year low of $56.17 and a one year high of $78.46.

Southwest Gas (NYSE:SWX) last posted its quarterly 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 business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. Southwest Gas had a return on equity of 6.18% and a net margin of 3.44%. The business’s revenue was down 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 EPS. Equities research analysts anticipate that Southwest Gas Holdings, Inc. will post 3.2 EPS for the current fiscal year.

Southwest Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Friday, November 15th. Southwest Gas’s dividend payout ratio is currently 92.88%.

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.