Glenmede Trust Co. NA Has $1.26 Million Stock Holdings in Southwest Gas Holdings, Inc. (NYSE:SWX)

Glenmede Trust Co. NA boosted its stake in Southwest Gas Holdings, Inc. (NYSE:SWX) by 17.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,021 shares of the utilities provider’s stock after buying an additional 2,572 shares during the quarter. Glenmede Trust Co. NA’s holdings in Southwest Gas were worth $1,255,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in shares of Southwest Gas by 41.9% during the second quarter. Victory Capital Management Inc. now owns 206,114 shares of the utilities provider’s stock worth $14,506,000 after acquiring an additional 60,856 shares in the last quarter. Summit Global Investments acquired a new position in Southwest Gas in the 3rd quarter worth about $1,349,000. New York State Common Retirement Fund raised its stake in shares of Southwest Gas by 3.0% during the 3rd quarter. New York State Common Retirement Fund now owns 267,589 shares of the utilities provider’s stock worth $19,737,000 after purchasing an additional 7,858 shares in the last quarter. Moody Aldrich Partners LLC lifted its holdings in shares of Southwest Gas by 14.7% during the 3rd quarter. Moody Aldrich Partners LLC now owns 134,573 shares of the utilities provider’s stock valued at $9,926,000 after buying an additional 17,227 shares during the last quarter. Finally, Choreo LLC bought a new stake in shares of Southwest Gas in the 2nd quarter valued at approximately $503,000. Institutional investors and hedge funds own 92.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Southwest Gas from $78.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Wells Fargo & Company lifted their price objective 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.

Insider Transactions at Southwest Gas

In other news, major shareholder Carl C. Icahn sold 1,390,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 approximately $739,206,030.96. This represents a 12.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

Southwest Gas Stock Down 0.2 %

Shares of SWX stock opened at $78.16 on Monday. 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. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s 50 day simple moving average is $75.01 and its 200 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.

Southwest Gas (NYSE:SWX) last released its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.09 EPS 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 analyst estimates of $1.12 billion. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 earnings per share. As a group, research analysts predict that Southwest Gas Holdings, Inc. will post 3.16 EPS for the current year.

Southwest Gas Dividend Announcement

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

About Southwest Gas

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.