D.A. Davidson & CO. Sells 1,000 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

D.A. Davidson & CO. cut its stake in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 6.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,591 shares of the utilities provider’s stock after selling 1,000 shares during the period. D.A. Davidson & CO.’s holdings in Southwest Gas were worth $1,150,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in shares of Southwest Gas by 41.9% during the second quarter. Victory Capital Management Inc. now owns 206,114 shares of the utilities provider’s stock valued at $14,506,000 after purchasing an additional 60,856 shares in the last quarter. Summit Global Investments purchased a new stake in Southwest Gas in the 3rd quarter valued at about $1,349,000. New York State Common Retirement Fund lifted its position in shares of Southwest Gas by 3.0% during the 3rd quarter. New York State Common Retirement Fund now owns 267,589 shares of the utilities provider’s stock worth $19,737,000 after buying an additional 7,858 shares in the last quarter. Moody Aldrich Partners LLC boosted its stake in shares of Southwest Gas by 14.7% in the 3rd quarter. Moody Aldrich Partners LLC now owns 134,573 shares of the utilities provider’s stock worth $9,926,000 after buying an additional 17,227 shares during the last quarter. Finally, Choreo LLC purchased a new stake in shares of Southwest Gas during the second quarter valued at approximately $503,000. 92.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Carl C. Icahn sold 1,390,000 shares of Southwest Gas stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $76.74, for a total value of $106,668,600.00. Following the completion of the transaction, the insider now directly owns 9,632,604 shares in the company, valued at approximately $739,206,030.96. The trade was a 12.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.39% of the company’s stock.

Southwest Gas Price Performance

Southwest Gas stock opened at $78.16 on Monday. The business’s 50 day simple moving average is $75.01 and its 200 day simple moving average is $73.77. Southwest Gas Holdings, Inc. has a 12 month low of $57.55 and a 12 month high of $80.29. The company has a market cap of $5.61 billion, a price-to-earnings ratio of 31.52, a PEG ratio of 4.13 and a beta of 0.38. 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 (NYSE:SWX) last issued its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 EPS. Sell-side analysts forecast that Southwest Gas Holdings, Inc. will post 3.16 EPS for the current year.

Southwest Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.48 dividend on an annualized basis and a yield of 3.17%. Southwest Gas’s dividend payout ratio is presently 100.00%.

Wall Street Analyst Weigh In

SWX has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Southwest Gas from $78.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Wells Fargo & Company boosted their price target on shares of 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 Company 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.