Exchange Traded Concepts LLC Raises Holdings in Southwest Gas Holdings, Inc. (NYSE:SWX)

Exchange Traded Concepts LLC raised its position in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 20.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 152,925 shares of the utilities provider's stock after purchasing an additional 25,920 shares during the period. Exchange Traded Concepts LLC owned 0.21% of Southwest Gas worth $10,980,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in shares of Southwest Gas by 1,055.0% in the first quarter. Farther Finance Advisors LLC now owns 462 shares of the utilities provider's stock worth $33,000 after buying an additional 422 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Southwest Gas by 41.2% during the 1st quarter. UMB Bank n.a. now owns 833 shares of the utilities provider's stock worth $60,000 after purchasing an additional 243 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Southwest Gas by 78.8% in the first quarter. GAMMA Investing LLC now owns 869 shares of the utilities provider's stock valued at $62,000 after purchasing an additional 383 shares in the last quarter. AlphaQuest LLC increased its holdings in shares of Southwest Gas by 94,500.0% in the fourth quarter. AlphaQuest LLC now owns 946 shares of the utilities provider's stock valued at $67,000 after purchasing an additional 945 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Southwest Gas by 40.1% in the fourth quarter. Covestor Ltd now owns 1,013 shares of the utilities provider's stock valued at $72,000 after purchasing an additional 290 shares during the last quarter. Institutional investors and hedge funds own 92.77% of the company's stock.

Insider Activity

In related 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 transaction of $156,660,000.00. Following the sale, the insider now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.39% of the company's stock.

Southwest Gas Trading Down 1.4%

NYSE SWX opened at $71.56 on Monday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $5.15 billion, a P/E ratio of 28.85, a PEG ratio of 3.16 and a beta of 0.47. The firm's 50-day moving average is $71.79 and its two-hundred day moving average is $72.87. Southwest Gas Holdings, Inc. has a 12 month low of $64.31 and a 12 month high of $80.29.

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, beating analysts' consensus estimates of $1.61 by $0.04. The business had revenue of $1.30 billion for 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%. The business's revenue was down 18.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.37 EPS. On average, sell-side analysts anticipate that Southwest Gas Holdings, Inc. will post 3.03 earnings per share for the current year.

Southwest Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders 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 dividend yield of 3.47%. Southwest Gas's dividend payout ratio is currently 79.74%.

Analysts Set New Price Targets

SWX has been the subject of several analyst reports. LADENBURG THALM/SH SH upgraded Southwest Gas to a "strong-buy" rating in a report on Friday, May 9th. Wall Street Zen cut shares of Southwest Gas from a "buy" rating to a "hold" rating in a research report on Sunday. JPMorgan Chase & Co. decreased their target price on shares of Southwest Gas from $79.00 to $75.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Finally, Bank of America raised shares of Southwest Gas from an "underperform" rating to a "neutral" rating and increased their price target for the company from $69.00 to $74.00 in a research note on Friday, May 23rd. Five research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Southwest Gas currently has an average rating of "Hold" and a consensus target price of $75.00.

About Southwest Gas

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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