Prudential Financial Inc. Grows Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

Prudential Financial Inc. lifted its position in Southwest Gas Holdings, Inc. (NYSE:SWX) by 20.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 135,490 shares of the utilities provider’s stock after purchasing an additional 23,180 shares during the period. Prudential Financial Inc. owned about 0.19% of Southwest Gas worth $9,580,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SWX. Intech Investment Management LLC increased its position in shares of Southwest Gas by 112.4% in the third quarter. Intech Investment Management LLC now owns 10,849 shares of the utilities provider’s stock valued at $800,000 after acquiring an additional 5,740 shares during the period. Citigroup Inc. increased its holdings in Southwest Gas by 234.1% during the 3rd quarter. Citigroup Inc. now owns 53,403 shares of the utilities provider’s stock valued at $3,939,000 after purchasing an additional 37,418 shares during the period. BNP Paribas Financial Markets raised its position in Southwest Gas by 30.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 19,765 shares of the utilities provider’s stock valued at $1,458,000 after purchasing an additional 4,611 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in Southwest Gas by 17.8% in the 3rd quarter. Glenmede Trust Co. NA now owns 17,021 shares of the utilities provider’s stock worth $1,255,000 after buying an additional 2,572 shares during the period. Finally, Walleye Capital LLC purchased a new stake in Southwest Gas in the 3rd quarter worth approximately $1,645,000. 92.77% of the stock is owned by hedge funds and other institutional investors.

Southwest Gas Stock Performance

Shares of Southwest Gas stock opened at $72.87 on Friday. The business has a fifty day simple moving average of $74.91 and a two-hundred day simple moving average of $74.06. The firm has a market capitalization of $5.24 billion, a P/E ratio of 29.38, a P/E/G ratio of 3.16 and a beta of 0.37. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21. Southwest Gas Holdings, Inc. has a 12 month low of $64.31 and a 12 month high of $80.29.

Southwest Gas (NYSE:SWX) last posted its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.21 by $0.18. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.35 billion. On average, equities analysts forecast that Southwest Gas Holdings, Inc. will post 3.03 earnings per share for the current fiscal year.

Southwest Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Thursday, May 15th. Southwest Gas’s payout ratio is 90.18%.

Insider Buying and Selling at Southwest Gas

In other news, major shareholder Carl C. Icahn sold 2,100,000 shares of the company’s stock in a transaction that occurred 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 owns 7,532,604 shares in the company, valued at approximately $561,932,258.40. This represents a 21.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.39% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Bank of America restated an “underperform” rating and set a $73.00 target price on shares of Southwest Gas in a report on Friday, December 13th. Jefferies Financial Group started coverage on shares of Southwest Gas in a report on Tuesday, January 14th. They issued a “hold” rating and a $73.00 price objective for the company. LADENBURG THALM/SH SH raised shares of Southwest Gas to a “strong-buy” rating in a research note on Monday, March 17th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Southwest Gas from $76.00 to $72.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Southwest Gas presently has a consensus rating of “Hold” and a consensus price target of $74.00.

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.