South Dakota Investment Council Lowers Stake in Southwest Gas Holdings, Inc. (NYSE:SWX)

South Dakota Investment Council lessened its holdings in Southwest Gas Holdings, Inc. (NYSE:SWX) by 40.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,373 shares of the utilities provider’s stock after selling 10,900 shares during the period. South Dakota Investment Council’s holdings in Southwest Gas were worth $1,158,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. New York State Common Retirement Fund increased its position in shares of Southwest Gas by 4.5% in the fourth quarter. New York State Common Retirement Fund now owns 279,607 shares of the utilities provider’s stock valued at $19,771,000 after buying an additional 12,018 shares in the last quarter. D.A. Davidson & CO. grew its stake in Southwest Gas by 1.1% in the 4th quarter. D.A. Davidson & CO. now owns 15,766 shares of the utilities provider’s stock valued at $1,115,000 after acquiring an additional 175 shares during the period. Rhumbline Advisers grew its stake in Southwest Gas by 1.0% in the 4th quarter. Rhumbline Advisers now owns 216,942 shares of the utilities provider’s stock valued at $15,340,000 after acquiring an additional 2,119 shares during the period. V Square Quantitative Management LLC increased its holdings in Southwest Gas by 27.5% in the 4th quarter. V Square Quantitative Management LLC now owns 5,487 shares of the utilities provider’s stock worth $388,000 after acquiring an additional 1,184 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Southwest Gas during the fourth quarter worth $207,000. Institutional investors and hedge funds own 92.77% of the company’s stock.

Southwest Gas Stock Performance

SWX opened at $76.92 on Monday. Southwest Gas Holdings, Inc. has a twelve month low of $60.88 and a twelve month high of $80.29. The firm has a market capitalization of $5.52 billion, a PE ratio of 31.01, a PEG ratio of 3.16 and a beta of 0.44. 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 firm’s 50-day moving average price is $72.89 and its 200 day moving average price is $73.55.

Southwest Gas Dividend Announcement

The business 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 dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Thursday, May 15th. Southwest Gas’s dividend payout ratio is currently 100.00%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SWX. JPMorgan Chase & Co. dropped their target price 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. Jefferies Financial Group initiated coverage on Southwest Gas in a report on Tuesday, January 14th. They issued a “hold” rating and a $73.00 price objective on the stock. Bank of America reissued an “underperform” rating and set a $73.00 target price on shares of Southwest Gas in a report on Friday, December 13th. Finally, LADENBURG THALM/SH SH raised Southwest Gas to a “strong-buy” rating in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $73.80.

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.