Truist Financial Corp decreased its holdings in shares of Southwest Gas Holdings, Inc. (NYSE:SWX – Free Report) by 1.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 129,932 shares of the utilities provider’s stock after selling 1,467 shares during the period. Truist Financial Corp owned approximately 0.19% of Southwest Gas worth $8,114,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in SWX. Raymond James & Associates boosted its stake in Southwest Gas by 0.6% during the first quarter. Raymond James & Associates now owns 22,510 shares of the utilities provider’s stock valued at $1,762,000 after buying an additional 145 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in Southwest Gas by 7.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 6,088 shares of the utilities provider’s stock worth $477,000 after purchasing an additional 432 shares during the last quarter. HighTower Advisors LLC lifted its stake in Southwest Gas by 22.1% during the first quarter. HighTower Advisors LLC now owns 17,171 shares of the utilities provider’s stock worth $1,345,000 after purchasing an additional 3,109 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Southwest Gas by 20.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 24,146 shares of the utilities provider’s stock worth $1,890,000 after purchasing an additional 4,126 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in Southwest Gas by 23.3% during the first quarter. Great West Life Assurance Co. Can now owns 76,924 shares of the utilities provider’s stock worth $6,296,000 after purchasing an additional 14,531 shares during the last quarter. Institutional investors own 90.78% of the company’s stock.
Insider Activity at Southwest Gas
In other Southwest Gas news, major shareholder Carl C. Icahn purchased 70,683 shares of Southwest Gas stock in a transaction that occurred on Monday, May 22nd. The shares were bought at an average price of $57.91 per share, for a total transaction of $4,093,252.53. Following the acquisition, the insider now directly owns 10,591,283 shares in the company, valued at $613,341,198.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Southwest Gas news, major shareholder Carl C. Icahn purchased 70,683 shares of Southwest Gas stock in a transaction that occurred on Monday, May 22nd. The shares were bought at an average price of $57.91 per share, for a total transaction of $4,093,252.53. Following the acquisition, the insider now directly owns 10,591,283 shares in the company, valued at $613,341,198.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Carl C. Icahn purchased 9,165 shares of Southwest Gas stock in a transaction that occurred on Thursday, June 1st. The shares were acquired at an average price of $57.99 per share, for a total transaction of $531,478.35. Following the acquisition, the insider now owns 10,844,194 shares in the company, valued at $628,854,810.06. The disclosure for this purchase can be found here. Insiders have acquired a total of 123,332 shares of company stock worth $7,142,875 in the last 90 days. Company insiders own 0.32% of the company’s stock.
Southwest Gas Trading Down 2.4 %
Southwest Gas (NYSE:SWX – Get Free Report) last released its quarterly earnings data on Tuesday, May 9th. The utilities provider reported $1.69 EPS for the quarter, topping the consensus estimate of $1.39 by $0.30. Southwest Gas had a positive return on equity of 6.89% and a negative net margin of 4.01%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.29 billion. On average, analysts expect that Southwest Gas Holdings, Inc. will post 3.35 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the company. Citigroup dropped their price target on Southwest Gas from $66.00 to $64.00 in a research note on Thursday, June 1st. 888 reaffirmed a “maintains” rating on shares of Southwest Gas in a research note on Thursday, June 1st. Finally, StockNews.com upgraded Southwest Gas from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $72.40.
Get Our Latest Analysis on SWX
About Southwest Gas
Southwest Gas Holdings, Inc, through its subsidiaries, distributes and transports natural gas in Arizona, Nevada, and California. It operates through Natural Gas Distribution, Utility Infrastructure Services, and Pipeline and Storage segments. The company also provides trenching, installation, and replacement of underground pipes, as well as maintenance services for energy distribution systems.
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