Brevan Howard Capital Management LP Sells 9,808 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

Brevan Howard Capital Management LP reduced its position in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 76.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,996 shares of the utilities provider's stock after selling 9,808 shares during the quarter. Brevan Howard Capital Management LP's holdings in Southwest Gas were worth $212,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its position in Southwest Gas by 19.2% in the 4th quarter. Captrust Financial Advisors now owns 3,558 shares of the utilities provider's stock worth $252,000 after purchasing an additional 572 shares during the period. Ameriprise Financial Inc. raised its position in Southwest Gas by 50.5% in the 4th quarter. Ameriprise Financial Inc. now owns 168,860 shares of the utilities provider's stock worth $11,940,000 after purchasing an additional 56,659 shares during the period. Algert Global LLC purchased a new stake in Southwest Gas in the 4th quarter worth about $368,000. Gallagher Fiduciary Advisors LLC raised its position in Southwest Gas by 16.8% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 4,391 shares of the utilities provider's stock worth $310,000 after purchasing an additional 632 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its position in Southwest Gas by 25.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 14,961 shares of the utilities provider's stock worth $1,058,000 after purchasing an additional 3,052 shares during the period. 92.77% of the stock is owned by hedge funds and other institutional investors.

Southwest Gas Stock Down 7.7%

Shares of NYSE:SWX opened at $69.83 on Tuesday. Southwest Gas Holdings, Inc. has a 52-week low of $64.31 and a 52-week high of $80.29. The stock has a market cap of $5.02 billion, a P/E ratio of 28.16, a price-to-earnings-growth ratio of 3.16 and a beta of 0.48. The business's 50 day moving average is $72.68 and its 200 day moving average is $73.69. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21.

Southwest Gas (NYSE:SWX - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The utilities provider reported $1.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.03). Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the company earned $1.37 EPS. The firm's revenue for the quarter was down 18.0% compared to the same quarter last year. Sell-side analysts predict that Southwest Gas Holdings, Inc. will post 3.03 EPS for the current year.

Southwest Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, August 15th. This represents a $2.48 annualized dividend and a yield of 3.55%. Southwest Gas's dividend payout ratio (DPR) is presently 90.18%.

Analyst Ratings Changes

A number of research firms recently weighed in on SWX. Jefferies Financial Group began coverage on shares of Southwest Gas in a research report on Tuesday, January 14th. They issued a "hold" rating and a $73.00 price objective on the stock. StockNews.com lowered Southwest Gas from a "buy" rating to a "hold" rating in a report on Tuesday. LADENBURG THALM/SH SH raised Southwest Gas to a "strong-buy" rating in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. dropped their price objective on Southwest Gas from $76.00 to $72.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $74.00.

Insider Buying and Selling at Southwest Gas

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 owns 7,532,604 shares of the company's stock, valued at approximately $561,932,258.40. This trade represents a 21.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.39% of the company's stock.

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.

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