Southwest Gas Holdings, Inc. (NYSE:SWX) Shares Sold by Redwood Investment Management LLC

Redwood Investment Management LLC lowered its stake in Southwest Gas Holdings, Inc. (NYSE:SWX) by 7.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,954 shares of the utilities provider’s stock after selling 3,184 shares during the period. Redwood Investment Management LLC owned about 0.05% of Southwest Gas worth $2,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in SWX. Public Employees Retirement System of Ohio acquired a new position in Southwest Gas during the 1st quarter worth approximately $115,000. GAMMA Investing LLC increased its holdings in shares of Southwest Gas by 154.8% in the 2nd quarter. GAMMA Investing LLC now owns 428 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 260 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in Southwest Gas by 8.8% during the second quarter. V Square Quantitative Management LLC now owns 4,104 shares of the utilities provider’s stock worth $289,000 after purchasing an additional 332 shares during the last quarter. Blue Trust Inc. increased its stake in Southwest Gas by 96.6% in the second quarter. Blue Trust Inc. now owns 574 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 282 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its holdings in Southwest Gas by 19.2% during the second quarter. Hennessy Advisors Inc. now owns 87,717 shares of the utilities provider’s stock worth $6,174,000 after purchasing an additional 14,100 shares in the last quarter. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Insider Activity at Southwest Gas

In related news, major shareholder Carl C. Icahn sold 1,390,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $76.74, for a total transaction of $106,668,600.00. Following the sale, the insider now owns 9,632,604 shares in the company, valued at approximately $739,206,030.96. This trade represents a 12.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Southwest Gas from $78.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Wells Fargo & Company raised their price objective on Southwest Gas from $74.00 to $78.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th.

Southwest Gas Stock Down 1.2 %

SWX stock opened at $77.10 on Thursday. Southwest Gas Holdings, Inc. has a 52 week low of $57.55 and a 52 week high of $80.29. 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 has a market cap of $5.53 billion, a P/E ratio of 31.09, a P/E/G ratio of 4.11 and a beta of 0.41. The company’s 50-day moving average price is $75.17 and its 200 day moving average price is $73.76.

Southwest Gas (NYSE:SWX) last released its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the company posted $0.10 EPS. The business’s revenue was down 7.7% on a year-over-year basis. On average, research analysts expect that Southwest Gas Holdings, Inc. will post 3.16 earnings per share for the current fiscal year.

Southwest Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Tuesday, February 18th. Southwest Gas’s dividend payout ratio is presently 100.00%.

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.