Algert Global LLC Purchases Shares of 5,201 Southwest Gas Holdings, Inc. (NYSE:SWX)

Algert Global LLC purchased a new stake in Southwest Gas Holdings, Inc. (NYSE:SWX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,201 shares of the utilities provider’s stock, valued at approximately $368,000.

Other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. lifted its stake in Southwest Gas by 48.2% in the fourth quarter. UMB Bank n.a. now owns 590 shares of the utilities provider’s stock valued at $42,000 after buying an additional 192 shares in the last quarter. AlphaQuest LLC lifted its stake in Southwest Gas by 94,500.0% in the fourth quarter. AlphaQuest LLC now owns 946 shares of the utilities provider’s stock valued at $67,000 after buying an additional 945 shares in the last quarter. Blue Trust Inc. lifted its stake in Southwest Gas by 18.8% in the fourth quarter. Blue Trust Inc. now owns 937 shares of the utilities provider’s stock valued at $69,000 after buying an additional 148 shares in the last quarter. Covestor Ltd lifted its stake in Southwest Gas by 40.1% in the fourth quarter. Covestor Ltd now owns 1,013 shares of the utilities provider’s stock valued at $72,000 after buying an additional 290 shares in the last quarter. Finally, KBC Group NV lifted its stake in Southwest Gas by 54.0% in the fourth quarter. KBC Group NV now owns 2,832 shares of the utilities provider’s stock valued at $200,000 after buying an additional 993 shares in the last quarter. Institutional investors own 92.77% of the company’s stock.

Southwest Gas Stock Performance

NYSE SWX opened at $69.83 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21. The firm’s fifty day moving average price is $72.68 and its two-hundred day moving average price is $73.69. Southwest Gas Holdings, Inc. has a 1 year low of $64.31 and a 1 year high of $80.29. The firm has a market capitalization of $5.02 billion, a P/E ratio of 28.16, a price-to-earnings-growth ratio of 3.16 and a beta of 0.48.

Southwest Gas (NYSE:SWX) last posted its quarterly earnings results on Monday, May 12th. The utilities provider reported $1.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.03). Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the company posted $1.37 earnings per share. The business’s revenue was down 18.0% compared to the same quarter last year. As a group, research analysts anticipate that Southwest Gas Holdings, Inc. will post 3.03 EPS for the current year.

Southwest Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Friday, August 15th. Southwest Gas’s dividend payout ratio (DPR) is currently 90.18%.

Insider Buying and Selling at Southwest Gas

In other Southwest Gas news, major shareholder Carl C. Icahn sold 2,100,000 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $74.60, for a total value of $156,660,000.00. Following the transaction, the insider now directly owns 7,532,604 shares in the company, valued at $561,932,258.40. The trade was a 21.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. LADENBURG THALM/SH SH raised shares of Southwest Gas to a “strong-buy” rating in a research report on Tuesday, April 22nd. Jefferies Financial Group assumed coverage on shares of Southwest Gas in a research report on Tuesday, January 14th. They issued a “hold” rating and a $73.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on shares of Southwest Gas from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Finally, StockNews.com lowered shares of Southwest Gas from a “buy” rating to a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $74.00.

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.