Southwest Gas Holdings, Inc. (NYSE:SWX) Stock Position Cut by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd trimmed its stake in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 43.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,266 shares of the utilities provider’s stock after selling 12,409 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Southwest Gas were worth $1,200,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. increased its stake in shares of Southwest Gas by 67.2% during the third quarter. UMB Bank n.a. now owns 398 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 160 shares during the period. GAMMA Investing LLC raised its stake in shares of Southwest Gas by 154.8% in the 2nd quarter. GAMMA Investing LLC now owns 428 shares of the utilities provider’s stock worth $30,000 after buying an additional 260 shares in the last quarter. Waldron Private Wealth LLC acquired a new stake in shares of Southwest Gas in the third quarter valued at $40,000. Blue Trust Inc. lifted its holdings in shares of Southwest Gas by 96.6% in the second quarter. Blue Trust Inc. now owns 574 shares of the utilities provider’s stock valued at $44,000 after buying an additional 282 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Southwest Gas during the second quarter worth about $49,000. 92.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Southwest Gas

In other Southwest Gas news, major shareholder Carl C. Icahn sold 1,390,000 shares of Southwest Gas stock in a transaction dated 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 transaction, the insider now owns 9,632,604 shares of the company’s stock, valued at $739,206,030.96. The trade was a 12.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

SWX has been the subject of a number of research analyst reports. 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 report on Wednesday, September 25th. JPMorgan Chase & Co. reduced their target price on shares of Southwest Gas from $78.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, August 15th.

Southwest Gas Trading Down 1.4 %

Shares of NYSE SWX opened at $78.06 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21. 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 $5.60 billion, a price-to-earnings ratio of 31.48, a P/E/G ratio of 4.13 and a beta of 0.38. The business has a fifty day simple moving average of $74.66 and a 200-day simple moving average of $73.68.

Southwest Gas (NYSE:SWX) last posted its quarterly earnings data 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 company 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%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 earnings per share. Sell-side analysts predict that Southwest Gas Holdings, Inc. will post 3.13 EPS for the current year.

Southwest Gas Dividend Announcement

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 given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Tuesday, February 18th. Southwest Gas’s payout ratio is 100.00%.

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.