Tidal Investments LLC Buys 3,550 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

Tidal Investments LLC increased its stake in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 49.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,779 shares of the utilities provider’s stock after buying an additional 3,550 shares during the quarter. Tidal Investments LLC’s holdings in Southwest Gas were worth $795,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Blue Trust Inc. lifted its holdings in shares of Southwest Gas by 96.6% during the second quarter. Blue Trust Inc. now owns 574 shares of the utilities provider’s stock valued at $44,000 after acquiring an additional 282 shares during the period. Clear Creek Financial Management LLC lifted its holdings in Southwest Gas by 12.2% during the 2nd quarter. Clear Creek Financial Management LLC now owns 3,293 shares of the utilities provider’s stock valued at $232,000 after purchasing an additional 357 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Southwest Gas by 6.9% during the 2nd 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 purchasing an additional 68,254 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Southwest Gas by 99.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 7,442 shares of the utilities provider’s stock valued at $524,000 after buying an additional 3,718 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Southwest Gas during the second quarter worth about $49,000. Institutional investors and hedge funds own 92.77% of the company’s stock.

Insider Transactions at Southwest Gas

In other news, major shareholder Carl C. Icahn sold 1,390,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $76.74, for a total value 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. This represents a 12.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.39% of the stock is owned by corporate insiders.

Southwest Gas Stock Performance

Shares of Southwest Gas stock opened at $69.65 on Friday. The firm has a 50 day simple moving average of $75.13 and a 200 day simple moving average of $73.54. Southwest Gas Holdings, Inc. has a fifty-two week low of $57.55 and a fifty-two week high of $80.29. 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 firm has a market cap of $5.00 billion, a P/E ratio of 28.08, a P/E/G ratio of 3.84 and a beta of 0.41.

Southwest Gas (NYSE:SWX) last issued its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.12 billion. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The firm’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 posted $0.10 earnings per share. Sell-side analysts predict that Southwest Gas Holdings, Inc. will post 3.16 earnings per share for the current fiscal year.

Southwest Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Tuesday, February 18th. Southwest Gas’s dividend payout ratio (DPR) is presently 100.00%.

Wall Street Analysts Forecast Growth

SWX has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price 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. Bank of America reiterated an “underperform” rating and issued a $73.00 price objective on shares of Southwest Gas in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $73.50.

Southwest Gas 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.