Xponance Inc. trimmed its position in Southwest Gas Holdings, Inc. (NYSE:SWX – Free Report) by 5.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 9,396 shares of the utilities provider’s stock after selling 554 shares during the period. Xponance Inc.’s holdings in Southwest Gas were worth $598,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. UBS Group AG lifted its stake in shares of Southwest Gas by 0.4% in the 4th quarter. UBS Group AG now owns 40,645 shares of the utilities provider’s stock valued at $2,515,000 after acquiring an additional 175 shares during the last quarter. Rhumbline Advisers raised its position in Southwest Gas by 0.9% during the 1st quarter. Rhumbline Advisers now owns 225,098 shares of the utilities provider’s stock worth $14,057,000 after purchasing an additional 1,935 shares during the last quarter. Panagora Asset Management Inc. raised its position in Southwest Gas by 2.1% during the 1st quarter. Panagora Asset Management Inc. now owns 15,190 shares of the utilities provider’s stock worth $949,000 after purchasing an additional 308 shares during the last quarter. ProShare Advisors LLC raised its position in Southwest Gas by 10.6% during the 1st quarter. ProShare Advisors LLC now owns 687,085 shares of the utilities provider’s stock worth $42,908,000 after purchasing an additional 65,834 shares during the last quarter. Finally, Amalgamated Bank raised its position in Southwest Gas by 1.6% during the 4th quarter. Amalgamated Bank now owns 42,451 shares of the utilities provider’s stock worth $2,627,000 after purchasing an additional 681 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors.
Insider Activity at Southwest Gas
In related news, major shareholder Carl C. Icahn purchased 27,466 shares of the firm’s stock in a transaction on Thursday, September 21st. The shares were acquired at an average price of $62.00 per share, for a total transaction of $1,702,892.00. Following the purchase, the insider now directly owns 10,999,878 shares in the company, valued at $681,992,436. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Southwest Gas news, major shareholder Carl C. Icahn bought 27,466 shares of Southwest Gas stock in a transaction dated Thursday, September 21st. The shares were purchased at an average cost of $62.00 per share, for a total transaction of $1,702,892.00. Following the acquisition, the insider now directly owns 10,999,878 shares in the company, valued at approximately $681,992,436. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Carl C. Icahn purchased 61,702 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were purchased at an average price of $61.48 per share, for a total transaction of $3,793,438.96. Following the completion of the acquisition, the insider now directly owns 10,928,190 shares in the company, valued at approximately $671,865,121.20. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 112,975 shares of company stock worth $6,943,362. 0.32% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Get Our Latest Stock Report on Southwest Gas
Southwest Gas Stock Up 1.0 %
SWX opened at $60.41 on Friday. The business’s fifty day simple moving average is $63.56 and its 200 day simple moving average is $61.47. Southwest Gas Holdings, Inc. has a 52 week low of $53.79 and a 52 week high of $74.44. The stock has a market cap of $4.32 billion, a PE ratio of -18.36, a P/E/G ratio of 3.54 and a beta of 0.30. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 1.62.
Southwest Gas (NYSE:SWX – Get Free Report) last announced its quarterly earnings results on Wednesday, August 9th. The utilities provider reported $0.47 earnings per share for the quarter, beating 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 the consensus estimate of $1.12 billion. As a group, research analysts expect that Southwest Gas Holdings, Inc. will post 3.38 earnings per share for the current fiscal year.
Southwest Gas Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Tuesday, November 14th. Southwest Gas’s dividend payout ratio is presently -75.38%.
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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