Franklin Resources Inc. Purchases 9,705 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

Franklin Resources Inc. raised its position in Southwest Gas Holdings, Inc. (NYSE:SWX) by 88.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,679 shares of the utilities provider’s stock after purchasing an additional 9,705 shares during the quarter. Franklin Resources Inc.’s holdings in Southwest Gas were worth $1,539,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. UMB Bank n.a. raised its stake in Southwest Gas by 67.2% during the third quarter. UMB Bank n.a. now owns 398 shares of the utilities provider’s stock worth $29,000 after buying an additional 160 shares during the last quarter. Waldron Private Wealth LLC bought a new stake in Southwest Gas in the third quarter worth approximately $40,000. International Assets Investment Management LLC acquired a new position in Southwest Gas in the second quarter valued at approximately $49,000. Blue Trust Inc. boosted its holdings in shares of Southwest Gas by 37.5% during the 3rd quarter. Blue Trust Inc. now owns 789 shares of the utilities provider’s stock worth $56,000 after buying an additional 215 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Southwest Gas during the 3rd quarter worth approximately $66,000. 92.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 stock was sold at an average price of $76.74, for a total transaction of $106,668,600.00. Following the completion of the transaction, the insider now owns 9,632,604 shares of the company’s stock, valued at $739,206,030.96. This trade represents a 12.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on Southwest Gas from $74.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Bank of America reiterated an “underperform” rating and issued a $73.00 target price on shares of Southwest Gas in a report on Friday, December 13th.

Southwest Gas Trading Down 0.1 %

Shares of SWX stock opened at $70.35 on Friday. The company has a market capitalization of $5.05 billion, a PE ratio of 28.37, a price-to-earnings-growth ratio of 3.84 and a beta of 0.41. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.85 and a current ratio of 0.85. The business’s fifty day moving average is $74.55 and its 200 day moving average is $73.33. Southwest Gas Holdings, Inc. has a 52-week low of $57.55 and a 52-week high of $80.29.

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

Southwest Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be given a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.48 annualized dividend and a dividend yield of 3.53%. Southwest Gas’s dividend payout ratio is 100.00%.

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.