Baker Ellis Asset Management LLC Invests $607,000 in Southwest Gas Holdings, Inc. (NYSE:SWX)

Baker Ellis Asset Management LLC purchased a new position in shares of Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,457 shares of the utilities provider's stock, valued at approximately $607,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Southwest Gas by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 6,696,651 shares of the utilities provider's stock valued at $473,520,000 after purchasing an additional 38,710 shares during the period. FMR LLC boosted its position in shares of Southwest Gas by 3.3% in the 4th quarter. FMR LLC now owns 3,322,085 shares of the utilities provider's stock worth $234,905,000 after buying an additional 105,549 shares in the last quarter. Channing Capital Management LLC boosted its stake in shares of 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 acquiring an additional 4,235 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of 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 acquiring an additional 27,407 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of 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 acquiring an additional 12,913 shares during the last quarter. Hedge funds and other institutional investors own 92.77% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Carl C. Icahn sold 2,100,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider now owns 7,532,604 shares of the company's stock, valued at $561,932,258.40. This trade represents a 21.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.39% of the stock is currently owned by insiders.

Southwest Gas Stock Performance

SWX traded up $0.89 during trading hours on Thursday, hitting $72.61. 258,532 shares of the stock were exchanged, compared to its average volume of 366,306. The stock has a 50-day simple moving average of $71.58 and a 200-day simple moving average of $73.03. Southwest Gas Holdings, Inc. has a 12 month low of $64.31 and a 12 month high of $80.29. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 29.28, a price-to-earnings-growth ratio of 3.16 and a beta of 0.47. 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 announced its quarterly earnings data on Monday, May 12th. The utilities provider reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.04. 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 for the quarter, compared to analysts' expectations of $1.50 billion. During the same period last year, the business posted $1.37 earnings per share. The firm's revenue for the quarter was down 18.0% on a year-over-year basis. Analysts anticipate that Southwest Gas Holdings, Inc. will post 3.03 earnings per share for the current year.

Southwest Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.48 dividend on an annualized basis and a yield of 3.42%. Southwest Gas's dividend payout ratio is currently 79.74%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. JPMorgan Chase & Co. decreased their price target on Southwest Gas from $79.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Bank of America raised Southwest Gas from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $69.00 to $74.00 in a research report on Friday, May 23rd. Wall Street Zen upgraded Southwest Gas from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Finally, LADENBURG THALM/SH SH upgraded Southwest Gas to a "strong-buy" rating in a report on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $75.00.

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.