Sterling Capital Management LLC Boosts Holdings in Southwest Gas Holdings, Inc. (NYSE:SWX)

Sterling Capital Management LLC raised its holdings in Southwest Gas Holdings, Inc. (NYSE:SWX) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,192 shares of the utilities provider’s stock after purchasing an additional 1,007 shares during the period. Sterling Capital Management LLC’s holdings in Southwest Gas were worth $5,600,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Public Employees Retirement System of Ohio raised its stake in Southwest Gas by 599.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 9,877 shares of the utilities provider’s stock valued at $729,000 after purchasing an additional 8,464 shares during the last quarter. Xponance Inc. raised its position in shares of Southwest Gas by 5.0% in the fourth quarter. Xponance Inc. now owns 8,588 shares of the utilities provider’s stock valued at $607,000 after buying an additional 406 shares during the last quarter. Hennessy Advisors Inc. lifted its stake in shares of Southwest Gas by 31.1% during the fourth quarter. Hennessy Advisors Inc. now owns 110,817 shares of the utilities provider’s stock valued at $7,836,000 after buying an additional 26,300 shares during the period. Proficio Capital Partners LLC acquired a new stake in Southwest Gas during the fourth quarter worth approximately $1,000,000. Finally, O Keefe Stevens Advisory Inc. grew its stake in Southwest Gas by 45.0% in the 4th quarter. O Keefe Stevens Advisory Inc. now owns 11,775 shares of the utilities provider’s stock worth $833,000 after acquiring an additional 3,654 shares during the period. 92.77% of the stock is currently owned by institutional investors and hedge funds.

Southwest Gas Price Performance

SWX stock opened at $71.04 on Friday. The stock has a 50-day moving average price of $74.00 and a two-hundred day moving average price of $73.80. The company has a market cap of $5.10 billion, a PE ratio of 28.64, a price-to-earnings-growth ratio of 3.16 and a beta of 0.50. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21. Southwest Gas Holdings, Inc. has a 12-month low of $64.31 and a 12-month high of $80.29.

Southwest Gas (NYSE:SWX) last issued its earnings results on Wednesday, February 26th. The utilities provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.35 billion. As a group, research analysts predict that Southwest Gas Holdings, Inc. will post 3.03 EPS for the current year.

Southwest Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Thursday, May 15th. Southwest Gas’s dividend payout ratio is presently 90.18%.

Analysts Set New Price Targets

A number of research analysts have weighed in on SWX shares. Bank of America reissued an “underperform” rating and set a $73.00 price target on shares of Southwest Gas in a research note on Friday, December 13th. LADENBURG THALM/SH SH raised Southwest Gas to a “strong-buy” rating in a research note on Monday, March 17th. JPMorgan Chase & Co. dropped their price objective on shares of Southwest Gas from $76.00 to $72.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Finally, Jefferies Financial Group initiated 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 on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Southwest Gas currently has a consensus rating of “Hold” and a consensus target price of $74.00.

Insider Activity at Southwest Gas

In related news, major shareholder Carl C. Icahn sold 2,100,000 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $74.60, for a total transaction of $156,660,000.00. Following the completion of the sale, the insider now directly owns 7,532,604 shares of the company’s stock, valued at approximately $561,932,258.40. This trade represents a 21.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.51% of the company’s stock.

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.