US Bancorp DE Buys 1,303 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

US Bancorp DE increased its holdings in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 9.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,364 shares of the utilities provider’s stock after acquiring an additional 1,303 shares during the period. US Bancorp DE’s holdings in Southwest Gas were worth $1,133,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. UMB Bank n.a. lifted its holdings in Southwest Gas by 67.2% during the third quarter. UMB Bank n.a. now owns 398 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 160 shares in the last quarter. V Square Quantitative Management LLC grew its position in shares of Southwest Gas by 4.8% in the third quarter. V Square Quantitative Management LLC now owns 4,303 shares of the utilities provider’s stock valued at $317,000 after purchasing an additional 199 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Southwest Gas by 2.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,174 shares of the utilities provider’s stock valued at $645,000 after purchasing an additional 213 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Southwest Gas by 37.5% in the third quarter. Blue Trust Inc. now owns 789 shares of the utilities provider’s stock valued at $56,000 after buying an additional 215 shares during the period. Finally, Inspire Investing LLC boosted its stake in shares of Southwest Gas by 5.2% in the second quarter. Inspire Investing LLC now owns 4,968 shares of the utilities provider’s stock valued at $350,000 after buying an additional 245 shares during the period. 92.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SWX has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on Southwest Gas from $74.00 to $78.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. cut their target price on Southwest Gas from $78.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th.

Insider Transactions at Southwest Gas

In other news, CFO Robert J. Stefani sold 767 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 43,438 shares in the company, valued at approximately $3,177,055.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.39% of the company’s stock.

Southwest Gas Stock Up 2.2 %

NYSE SWX opened at $75.01 on Friday. The business has a fifty day moving average price of $73.20 and a two-hundred day moving average price of $73.55. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.58 and a quick ratio of 1.58. Southwest Gas Holdings, Inc. has a fifty-two week low of $57.03 and a fifty-two week high of $79.03. The stock has a market capitalization of $5.38 billion, a PE ratio of 30.25, a PEG ratio of 3.92 and a beta of 0.38.

Southwest Gas (NYSE:SWX) last released its earnings results on Wednesday, November 6th. The utilities provider reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Southwest Gas had a return on equity of 6.07% and a net margin of 3.44%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 earnings per share. Equities analysts expect that Southwest Gas Holdings, Inc. will post 3.13 earnings per share 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. Stockholders of record on Friday, November 15th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, November 15th. This represents a $2.48 annualized dividend and a dividend yield of 3.31%. Southwest Gas’s dividend payout ratio (DPR) is presently 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.