Southwest Gas Holdings, Inc. (NYSE:SWX) Major Shareholder Carl C. Icahn Sells 1,390,000 Shares

Southwest Gas Holdings, Inc. (NYSE:SWX) major shareholder Carl C. Icahn sold 1,390,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 9,632,604 shares in the company, valued at $739,206,030.96. This represents a 12.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Southwest Gas Price Performance

SWX stock opened at $77.50 on Friday. 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 has a 50-day simple moving average of $74.44 and a two-hundred day simple moving average of $73.68. The company has a market capitalization of $5.56 billion, a P/E ratio of 31.25, a price-to-earnings-growth ratio of 4.21 and a beta of 0.38. Southwest Gas Holdings, Inc. has a 52-week low of $57.55 and a 52-week high of $79.20.

Southwest Gas (NYSE:SWX) last announced 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 prior year, the company posted $0.10 earnings per share. Southwest Gas’s revenue was down 7.7% compared to the same quarter last year. Research analysts expect that Southwest Gas Holdings, Inc. will post 3.13 EPS for the current fiscal year.

Southwest Gas Announces Dividend

The company also recently declared 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 dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, February 18th. Southwest Gas’s payout ratio is currently 100.00%.

Institutional Investors Weigh In On Southwest Gas

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its holdings in shares of Southwest Gas by 67.2% in the 3rd 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. GAMMA Investing LLC boosted its stake in Southwest Gas by 154.8% in the second 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. Waldron Private Wealth LLC bought a new position in shares of Southwest Gas during the 3rd quarter valued at approximately $40,000. Blue Trust Inc. increased its stake in shares of Southwest Gas by 96.6% during the 2nd quarter. Blue Trust Inc. now owns 574 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 282 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Southwest Gas in the 2nd quarter worth approximately $49,000. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on SWX shares. 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. JPMorgan Chase & Co. cut their target price on Southwest Gas from $78.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th.

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.