Mariner LLC Boosts Stake in Southwest Gas Holdings, Inc. (NYSE:SWX)

Mariner LLC raised its position in Southwest Gas Holdings, Inc. (NYSE:SWX) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,146 shares of the utilities provider’s stock after purchasing an additional 207 shares during the quarter. Mariner LLC’s holdings in Southwest Gas were worth $717,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Southwest Gas by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 6,696,651 shares of the utilities provider’s stock worth $473,520,000 after purchasing an additional 38,710 shares during the period. FMR LLC grew its stake in shares of Southwest Gas by 3.3% in the fourth quarter. FMR LLC now owns 3,322,085 shares of the utilities provider’s stock valued at $234,905,000 after buying an additional 105,549 shares in the last quarter. Channing Capital Management LLC raised its holdings in shares of Southwest Gas by 0.3% during the 4th quarter. Channing Capital Management LLC now owns 1,270,072 shares of the utilities provider’s stock valued at $89,807,000 after buying an additional 4,235 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Southwest Gas by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 990,723 shares of the utilities provider’s stock worth $70,054,000 after acquiring an additional 12,913 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Southwest Gas by 5.0% in the fourth quarter. Bank of New York Mellon Corp now owns 906,207 shares of the utilities provider’s stock valued at $64,078,000 after acquiring an additional 43,030 shares in the last quarter. 92.77% of the stock is owned by institutional investors and hedge funds.

Southwest Gas Price Performance

Shares of SWX stock opened at $72.87 on Wednesday. The firm has a market cap of $5.24 billion, a P/E ratio of 29.38, a P/E/G ratio of 3.16 and a beta of 0.50. The firm has a fifty day moving average of $72.99 and a two-hundred day moving average of $73.74. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85. Southwest Gas Holdings, Inc. has a 1-year low of $64.31 and a 1-year high of $80.29.

Southwest Gas (NYSE:SWX) last announced its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.18. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.35 billion. As a group, research analysts anticipate that Southwest Gas Holdings, Inc. will post 3.03 earnings per share for the current fiscal year.

Southwest Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.48 annualized dividend and a yield of 3.40%. Southwest Gas’s payout ratio is 90.18%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SWX shares. Jefferies Financial Group began coverage on shares of Southwest Gas in a research report on Tuesday, January 14th. They set a “hold” rating and a $73.00 target price on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Southwest Gas from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Finally, LADENBURG THALM/SH SH raised Southwest Gas to a “strong-buy” rating in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $74.00.

Insiders Place Their Bets

In related news, major shareholder Carl C. Icahn sold 2,100,000 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $74.60, for a total transaction of $156,660,000.00. Following the completion of the sale, the insider now owns 7,532,604 shares of the company’s stock, valued at $561,932,258.40. This represents a 21.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.39% of the stock is owned by corporate insiders.

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.