Bank of America Corp DE Sells 11,483 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

Bank of America Corp DE decreased its position in shares of Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,775 shares of the utilities provider's stock after selling 11,483 shares during the period. Bank of America Corp DE owned approximately 0.26% of Southwest Gas worth $13,278,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. grew its stake in shares of Southwest Gas by 48.2% in the 4th quarter. UMB Bank n.a. now owns 590 shares of the utilities provider's stock worth $42,000 after buying an additional 192 shares in the last quarter. AlphaQuest LLC raised its stake in shares of Southwest Gas by 94,500.0% during the fourth quarter. AlphaQuest LLC now owns 946 shares of the utilities provider's stock valued at $67,000 after acquiring an additional 945 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Southwest Gas by 18.8% in the 4th quarter. Blue Trust Inc. now owns 937 shares of the utilities provider's stock worth $69,000 after buying an additional 148 shares during the period. Covestor Ltd grew its holdings in Southwest Gas by 40.1% during the 4th quarter. Covestor Ltd now owns 1,013 shares of the utilities provider's stock worth $72,000 after acquiring an additional 290 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Southwest Gas by 54.0% during the fourth quarter. KBC Group NV now owns 2,832 shares of the utilities provider's stock valued at $200,000 after purchasing an additional 993 shares in the last quarter. Hedge funds and other institutional investors own 92.77% of the company's stock.

Southwest Gas Price Performance

Shares of Southwest Gas stock opened at $69.09 on Thursday. 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 Holdings, Inc. has a twelve month low of $64.31 and a twelve month high of $80.29. The business has a 50-day moving average price of $72.17 and a 200 day moving average price of $73.49. The firm has a market cap of $4.97 billion, a PE ratio of 27.86, a P/E/G ratio of 3.16 and a beta of 0.48.

Southwest Gas (NYSE:SWX - Get Free Report) last announced its earnings results on Monday, May 12th. The utilities provider reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.04. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the business earned $1.37 earnings per share. The company'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 earnings per share for the current fiscal year.

Southwest Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Friday, August 15th. Southwest Gas's dividend payout ratio (DPR) is 79.74%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. LADENBURG THALM/SH SH upgraded shares of Southwest Gas to a "strong-buy" rating in a report on Friday, May 9th. JPMorgan Chase & Co. dropped their price target 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. Finally, StockNews.com lowered shares of Southwest Gas from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Southwest Gas presently has an average rating of "Hold" and a consensus price target of $74.00.

Insiders Place Their Bets

In other news, major shareholder Carl C. Icahn sold 2,100,000 shares of the 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 completion of the sale, the insider now owns 7,532,604 shares of the company's stock, valued at $561,932,258.40. This represents a 21.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate 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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