Principal Financial Group Inc. Has $76.35 Million Holdings in Southwest Gas Holdings, Inc. (NYSE:SWX)

Principal Financial Group Inc. trimmed its stake in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 5.8% during the fourth quarter, HoldingsChannel reports. The fund owned 1,079,717 shares of the utilities provider’s stock after selling 66,757 shares during the period. Principal Financial Group Inc.’s holdings in Southwest Gas were worth $76,347,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Waldron Private Wealth LLC bought a new position in Southwest Gas during the 3rd quarter worth about $40,000. UMB Bank n.a. boosted its position in shares of Southwest Gas by 48.2% during the fourth quarter. UMB Bank n.a. now owns 590 shares of the utilities provider’s stock worth $42,000 after buying an additional 192 shares during the period. Blue Trust Inc. grew its holdings in shares of Southwest Gas by 37.5% during the third quarter. Blue Trust Inc. now owns 789 shares of the utilities provider’s stock worth $56,000 after buying an additional 215 shares in the last quarter. ST Germain D J Co. Inc. raised its position in Southwest Gas by 206.2% in the 4th quarter. ST Germain D J Co. Inc. now owns 845 shares of the utilities provider’s stock valued at $60,000 after buying an additional 569 shares during the last quarter. Finally, KBC Group NV lifted its stake in Southwest Gas by 25.4% in the 3rd quarter. KBC Group NV now owns 1,839 shares of the utilities provider’s stock valued at $136,000 after acquiring an additional 373 shares in the last quarter. 92.77% of the stock is owned by institutional investors.

Southwest Gas Price Performance

Shares of SWX opened at $77.50 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21. The company’s fifty day simple moving average is $72.75 and its 200 day simple moving average is $73.44. Southwest Gas Holdings, Inc. has a 1-year low of $59.40 and a 1-year high of $80.29. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 3.18 and a beta of 0.44.

Southwest Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.20%. Southwest Gas’s payout ratio is 100.00%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. LADENBURG THALM/SH SH raised shares of Southwest Gas to a “strong-buy” rating in a research note on Friday, January 24th. Jefferies Financial Group assumed coverage on shares of Southwest Gas in a research report on Tuesday, January 14th. They issued a “hold” rating and a $73.00 target price for the company. JPMorgan Chase & Co. cut their price target on shares of Southwest Gas from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Finally, Bank of America restated an “underperform” rating and issued a $73.00 price objective on shares of Southwest Gas in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $73.80.

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.