Optas LLC Reduces Holdings in Southwest Gas Holdings, Inc. (NYSE:SWX)

Optas LLC trimmed its stake in Southwest Gas Holdings, Inc. (NYSE:SWX) by 13.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,767 shares of the utilities provider’s stock after selling 733 shares during the period. Optas LLC’s holdings in Southwest Gas were worth $363,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Kapitalo Investimentos Ltda increased its stake in shares of Southwest Gas by 4.2% in the 4th quarter. Kapitalo Investimentos Ltda now owns 4,234 shares of the utilities provider’s stock worth $268,000 after acquiring an additional 171 shares in the last quarter. Retirement Systems of Alabama increased its stake in shares of Southwest Gas by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 75,243 shares of the utilities provider’s stock worth $4,767,000 after acquiring an additional 276 shares in the last quarter. Mariner LLC increased its stake in shares of Southwest Gas by 5.4% in the 3rd quarter. Mariner LLC now owns 9,860 shares of the utilities provider’s stock worth $596,000 after acquiring an additional 504 shares in the last quarter. Assetmark Inc. increased its stake in shares of Southwest Gas by 22.6% in the 4th quarter. Assetmark Inc. now owns 3,152 shares of the utilities provider’s stock worth $200,000 after acquiring an additional 581 shares in the last quarter. Finally, Maryland State Retirement & Pension System increased its stake in shares of Southwest Gas by 1.5% in the 4th quarter. Maryland State Retirement & Pension System now owns 50,551 shares of the utilities provider’s stock worth $3,202,000 after acquiring an additional 731 shares in the last quarter. 92.77% of the stock is currently owned by institutional investors.

Insider Transactions at Southwest Gas

In other news, insider Justin L. Brown sold 2,625 shares of Southwest Gas stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $76.50, for a total value of $200,812.50. Following the completion of the sale, the insider now directly owns 23,830 shares in the company, valued at $1,822,995. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company began coverage on shares of Southwest Gas in a research note on Monday, May 13th. They issued an “equal weight” rating and a $77.00 price target for the company.

Southwest Gas Stock Down 2.8 %

NYSE:SWX traded down $2.02 on Friday, reaching $70.38. 1,392,639 shares of the stock traded hands, compared to its average volume of 281,625. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 3.48 and a beta of 0.39. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.39. Southwest Gas Holdings, Inc. has a 12 month low of $56.17 and a 12 month high of $78.46. The company’s fifty day simple moving average is $75.11 and its 200 day simple moving average is $69.36.

Southwest Gas (NYSE:SWX) last released its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.33). The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.38 billion. Southwest Gas had a net margin of 3.56% and a return on equity of 6.71%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.69 earnings per share. Equities analysts predict that Southwest Gas Holdings, Inc. will post 3.37 EPS for the current fiscal year.

Southwest Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.52%. Southwest Gas’s dividend payout ratio is presently 92.88%.

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.