D.A. Davidson & CO. Lowers Stock Holdings in Southwest Gas Holdings, Inc. (NYSE:SWX)

D.A. Davidson & CO. lowered its position in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 6.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,591 shares of the utilities provider’s stock after selling 1,000 shares during the period. D.A. Davidson & CO.’s holdings in Southwest Gas were worth $1,150,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. UMB Bank n.a. boosted its holdings in Southwest Gas by 67.2% in the 3rd quarter. UMB Bank n.a. now owns 398 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 160 shares during the period. GAMMA Investing LLC raised its position in shares of 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 buying an additional 260 shares in the last quarter. Waldron Private Wealth LLC purchased a new stake in shares of Southwest Gas in the third quarter worth $40,000. Blue Trust Inc. boosted its stake in Southwest Gas by 96.6% during the second quarter. Blue Trust Inc. now owns 574 shares of the utilities provider’s stock valued at $44,000 after buying an additional 282 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in Southwest Gas during the second quarter worth about $49,000. Institutional investors own 92.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on SWX. JPMorgan Chase & Co. lowered their price target on Southwest Gas from $78.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Wells Fargo & Company raised their target price 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, September 25th.

Southwest Gas Trading Down 0.2 %

NYSE SWX opened at $78.16 on Monday. The stock’s 50-day simple moving average is $75.01 and its two-hundred day simple moving average is $73.77. Southwest Gas Holdings, Inc. has a twelve month low of $57.55 and a twelve month high of $80.29. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 31.52, a PEG ratio of 4.13 and a beta of 0.38.

Southwest Gas (NYSE:SWX) last announced its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. Southwest Gas’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period last year, the firm posted $0.10 EPS. Research analysts forecast that Southwest Gas Holdings, Inc. will post 3.16 EPS for the current fiscal year.

Southwest Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be issued a $0.62 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.17%. Southwest Gas’s payout ratio is 100.00%.

Insider Activity

In other Southwest Gas news, major shareholder Carl C. Icahn sold 1,390,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $76.74, for a total value of $106,668,600.00. Following the completion of the sale, the insider now directly owns 9,632,604 shares of the company’s stock, valued at $739,206,030.96. The trade was a 12.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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.