Goldman Sachs Group Inc. Sells 133,619 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

Goldman Sachs Group Inc. decreased its position in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 22.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 467,932 shares of the utilities provider’s stock after selling 133,619 shares during the period. Goldman Sachs Group Inc. owned approximately 0.65% of Southwest Gas worth $29,643,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp grew its holdings in Southwest Gas by 461.9% during the 4th quarter. Jones Financial Companies Lllp now owns 1,371 shares of the utilities provider’s stock valued at $87,000 after purchasing an additional 1,127 shares during the last quarter. Allworth Financial LP grew its stake in shares of Southwest Gas by 520.4% during the fourth quarter. Allworth Financial LP now owns 3,071 shares of the utilities provider’s stock valued at $195,000 after buying an additional 2,576 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Southwest Gas by 22.6% in the fourth quarter. Assetmark Inc. now owns 3,152 shares of the utilities provider’s stock worth $200,000 after buying an additional 581 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Southwest Gas during the 4th quarter worth approximately $239,000. Finally, Sequoia Financial Advisors LLC purchased a new position in Southwest Gas during the 4th quarter valued at $333,000. Institutional investors own 92.77% of the company’s stock.

Analyst Upgrades and Downgrades

SWX has been the subject of several research analyst reports. Citigroup lifted their target price on Southwest Gas from $64.00 to $73.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Wells Fargo & Company initiated coverage on shares of Southwest Gas in a report on Monday, May 13th. They set an “equal weight” rating and a $77.00 price objective for the company.

Southwest Gas Trading Down 0.9 %

SWX opened at $73.54 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.39. The stock’s fifty day moving average is $75.12 and its two-hundred day moving average is $68.90. The company has a market capitalization of $5.27 billion, a P/E ratio of 27.54, a PEG ratio of 3.62 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:SWX) last announced its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $1.37 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the business posted $1.69 EPS. The business’s quarterly revenue was down 1.4% on a year-over-year basis. Analysts forecast that Southwest Gas Holdings, Inc. will post 3.42 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. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.62 per share. The ex-dividend date is Thursday, August 15th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.37%. Southwest Gas’s dividend payout ratio is presently 92.88%.

Insider Activity

In other Southwest Gas news, insider Justin L. Brown sold 2,625 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $76.50, for a total transaction of $200,812.50. Following the completion of the sale, the insider now owns 23,830 shares in the company, valued at $1,822,995. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.39% of the company’s stock.

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.