Southwest Gas Holdings, Inc. (NYSE:SWX) Major Shareholder Carl C. Icahn Acquires 21,807 Shares of Stock

Posted by Defense World Staff on Sep 13th, 2023

Southwest Gas Holdings, Inc. (NYSE:SWX – Get Free Report) major shareholder Carl C. Icahn bought 21,807 shares of Southwest Gas stock in a transaction dated Friday, September 8th. The stock was purchased at an average cost of $60.67 per share, with a total value of $1,323,030.69. Following the completion of the acquisition, the insider now directly owns 10,866,488 shares in the company, valued at approximately $659,269,826.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Southwest Gas Price Performance

Shares of NYSE SWX opened at $62.00 on Wednesday. The stock has a fifty day moving average price of $64.12 and a 200 day moving average price of $61.33. Southwest Gas Holdings, Inc. has a 1-year low of $53.79 and a 1-year high of $82.42. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.12 and a quick ratio of 2.12. The company has a market cap of $4.43 billion, a PE ratio of -18.84, a P/E/G ratio of 3.59 and a beta of 0.30.

Southwest Gas (NYSE:SWX – Get Free Report) last released its earnings results on Wednesday, August 9th. The utilities provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.39 by $0.08. Southwest Gas had a negative net margin of 4.01% and a positive return on equity of 6.89%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Sell-side analysts forecast that Southwest Gas Holdings, Inc. will post 3.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SWX. 888 reiterated a “maintains” rating on shares of Southwest Gas in a research note on Thursday, June 1st. StockNews.com upgraded shares of Southwest Gas from a “sell” rating to a “hold” rating in a research note on Tuesday, September 5th. Finally, Citigroup dropped their price objective on shares of Southwest Gas from $66.00 to $64.00 in a research note on Thursday, June 1st. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $72.40.

View Our Latest Stock Analysis on SWX

Institutional Investors Weigh In On Southwest Gas

A number of institutional investors have recently added to or reduced their stakes in SWX. Raymond James & Associates raised its stake in shares of Southwest Gas by 0.6% during the 1st quarter. Raymond James & Associates now owns 22,510 shares of the utilities provider’s stock worth $1,762,000 after buying an additional 145 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Southwest Gas by 4.1% in the second quarter. Mackenzie Financial Corp now owns 4,231 shares of the utilities provider’s stock valued at $270,000 after buying an additional 165 shares in the last quarter. UBS Group AG grew its holdings in Southwest Gas by 0.4% during the fourth quarter. UBS Group AG now owns 40,645 shares of the utilities provider’s stock worth $2,515,000 after acquiring an additional 175 shares during the period. Belpointe Asset Management LLC raised its position in Southwest Gas by 8.8% in the fourth quarter. Belpointe Asset Management LLC now owns 2,383 shares of the utilities provider’s stock worth $147,000 after acquiring an additional 192 shares in the last quarter. Finally, Camelot Portfolios LLC lifted its holdings in Southwest Gas by 2.3% in the first quarter. Camelot Portfolios LLC now owns 8,544 shares of the utilities provider’s stock valued at $534,000 after acquiring an additional 194 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

About Southwest Gas

(Get Free Report)

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.