Algert Global LLC Takes $368,000 Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

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

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Southwest Gas by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 6,696,651 shares of the utilities provider's stock valued at $473,520,000 after acquiring an additional 38,710 shares during the period. FMR LLC grew its position in Southwest Gas by 3.3% in the fourth quarter. FMR LLC now owns 3,322,085 shares of the utilities provider's stock worth $234,905,000 after acquiring an additional 105,549 shares in the last quarter. Channing Capital Management LLC boosted its position in Southwest Gas by 0.3% during the fourth quarter. Channing Capital Management LLC now owns 1,270,072 shares of the utilities provider's stock valued at $89,807,000 after buying an additional 4,235 shares during the period. Dimensional Fund Advisors LP boosted its position in Southwest Gas by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,030,283 shares of the utilities provider's stock valued at $72,850,000 after buying an additional 27,407 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Southwest Gas by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,723 shares of the utilities provider's stock valued at $70,054,000 after buying an additional 12,913 shares during the period. Institutional investors own 92.77% of the company's stock.

Southwest Gas Trading Down 0.3%

SWX stock traded down $0.21 during trading on Friday, reaching $68.98. The company had a trading volume of 419,282 shares, compared to its average volume of 356,947. Southwest Gas Holdings, Inc. has a 52 week low of $64.31 and a 52 week high of $80.29. The company has a market cap of $4.96 billion, a P/E ratio of 27.81, a PEG ratio of 3.16 and a beta of 0.48. The business has a 50 day moving average of $72.37 and a 200 day moving average of $73.54. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85.

Southwest Gas (NYSE:SWX - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The utilities provider reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.61 by $0.04. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.50 billion. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. Southwest Gas's revenue was down 18.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.37 earnings per share. As a group, sell-side analysts forecast that Southwest Gas Holdings, Inc. will post 3.03 earnings per share for the current fiscal year.

Southwest Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Friday, August 15th. Southwest Gas's dividend payout ratio (DPR) is presently 79.74%.

Insiders Place Their Bets

In other Southwest Gas news, major shareholder Carl C. Icahn sold 2,100,000 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $74.60, for a total transaction of $156,660,000.00. Following the sale, the insider now directly owns 7,532,604 shares in the company, valued at approximately $561,932,258.40. This trade represents a 21.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.51% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. LADENBURG THALM/SH SH raised shares of Southwest Gas to a "strong-buy" rating in a research note on Friday, May 9th. StockNews.com downgraded shares of Southwest Gas from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. 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 investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $74.00.

Southwest Gas Company 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.