Truist Financial Corp Sells 20,135 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

Truist Financial Corp lessened its holdings in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 19.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,011 shares of the utilities provider’s stock after selling 20,135 shares during the period. Truist Financial Corp owned approximately 0.11% of Southwest Gas worth $5,772,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of SWX. Creative Planning increased its holdings in Southwest Gas by 4.2% during the 2nd quarter. Creative Planning now owns 14,484 shares of the utilities provider’s stock worth $1,019,000 after purchasing an additional 589 shares in the last quarter. Algert Global LLC bought a new stake in Southwest Gas in the 2nd quarter valued at approximately $406,000. Susquehanna Fundamental Investments LLC bought a new stake in Southwest Gas in the 2nd quarter valued at approximately $347,000. Millennium Management LLC grew its stake in shares of Southwest Gas by 266.0% during the 2nd quarter. Millennium Management LLC now owns 37,595 shares of the utilities provider’s stock worth $2,646,000 after acquiring an additional 27,323 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Southwest Gas in the second quarter valued at approximately $226,000. 92.77% of the stock is currently owned by institutional investors and hedge funds.

Southwest Gas Stock Performance

Shares of SWX stock opened at $73.79 on Tuesday. The company has a fifty day moving average price of $72.25 and a two-hundred day moving average price of $73.58. Southwest Gas Holdings, Inc. has a one year low of $56.17 and a one year high of $78.46. The stock has a market cap of $5.29 billion, a P/E ratio of 27.64, a P/E/G ratio of 3.83 and a beta of 0.38. 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 (NYSE:SWX) last posted its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). Southwest Gas had a return on equity of 6.18% and a net margin of 3.44%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the business posted $0.47 EPS. The company’s revenue for the quarter was down 8.6% on a year-over-year basis. As a group, equities analysts predict that Southwest Gas Holdings, Inc. will post 3.2 EPS for the current year.

Southwest Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.48 dividend on an annualized basis and a yield of 3.36%. Southwest Gas’s dividend payout ratio (DPR) is 92.88%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Southwest Gas

In related news, CFO Robert J. Stefani sold 767 shares of Southwest Gas stock in a transaction dated 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 sale, the chief financial officer now owns 43,438 shares of the company’s stock, valued at approximately $3,177,055.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate 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.