Pathstone Holdings LLC Boosts Holdings in Southwest Gas Holdings, Inc. (NYSE:SWX)

Pathstone Holdings LLC boosted its holdings in Southwest Gas Holdings, Inc. (NYSE:SWX) by 0.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,125 shares of the utilities provider’s stock after purchasing an additional 165 shares during the quarter. Pathstone Holdings LLC’s holdings in Southwest Gas were worth $2,001,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake in Southwest Gas by 6.9% during the second quarter. Bank of New York Mellon Corp now owns 1,053,094 shares of the utilities provider’s stock valued at $74,117,000 after acquiring an additional 68,254 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Southwest Gas by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 985,566 shares of the utilities provider’s stock valued at $69,370,000 after purchasing an additional 84,987 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Southwest Gas by 2.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 648,871 shares of the utilities provider’s stock worth $45,668,000 after purchasing an additional 17,069 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Southwest Gas by 3.0% in the third 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. Finally, Victory Capital Management Inc. boosted its stake in 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 buying an additional 60,856 shares during the last quarter. 92.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Southwest Gas

In other Southwest Gas news, major shareholder Carl C. Icahn sold 1,390,000 shares of the 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 directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is currently owned by corporate insiders.

Southwest Gas Price Performance

NYSE:SWX opened at $78.06 on Wednesday. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of 31.48, a PEG ratio of 4.13 and a beta of 0.38. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50 day simple moving average of $74.66 and a 200-day simple moving average of $73.68. Southwest Gas Holdings, Inc. has a 1 year low of $57.55 and a 1 year high of $80.29.

Southwest Gas (NYSE:SWX) last released its 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. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.12 billion. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. During the same quarter last year, the business earned $0.10 EPS. The business’s revenue was down 7.7% on a year-over-year basis. Equities analysts forecast that Southwest Gas Holdings, Inc. will post 3.13 EPS for the current year.

Southwest Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.62 per share. The ex-dividend date is Tuesday, February 18th. This represents a $2.48 annualized dividend and a yield of 3.18%. Southwest Gas’s payout ratio is currently 100.00%.

Wall Street Analyst Weigh In

SWX has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their price objective on Southwest Gas from $78.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Wells Fargo & Company upped their price target on shares of Southwest Gas from $74.00 to $78.00 and gave the company an “equal weight” rating in a research note 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.