Southwest Gas Holdings, Inc. (NYSE:SWX) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC lowered its position in shares of Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 25.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,669 shares of the utilities provider's stock after selling 6,118 shares during the quarter. Gotham Asset Management LLC's holdings in Southwest Gas were worth $1,249,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Southwest Gas during the fourth quarter worth $51,011,000. Adage Capital Partners GP L.L.C. boosted its holdings in Southwest Gas by 111.8% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 900,000 shares of the utilities provider's stock valued at $63,639,000 after purchasing an additional 475,000 shares during the period. JPMorgan Chase & Co. boosted its holdings in Southwest Gas by 83.3% in the fourth quarter. JPMorgan Chase & Co. now owns 505,555 shares of the utilities provider's stock valued at $35,748,000 after purchasing an additional 229,739 shares during the period. Tudor Investment Corp ET AL boosted its holdings in Southwest Gas by 328.1% in the fourth quarter. Tudor Investment Corp ET AL now owns 223,746 shares of the utilities provider's stock valued at $15,821,000 after purchasing an additional 171,478 shares during the period. Finally, FMR LLC boosted its holdings in Southwest Gas by 3.3% in the fourth quarter. FMR LLC now owns 3,322,085 shares of the utilities provider's stock valued at $234,905,000 after purchasing an additional 105,549 shares during the period. Institutional investors and hedge funds own 92.77% of the company's stock.

Southwest Gas Stock Up 2.5%

NYSE SWX traded up $1.74 during trading on Friday, reaching $70.84. 324,406 shares of the company's stock were exchanged, compared to its average volume of 360,444. The stock has a market cap of $5.09 billion, a P/E ratio of 28.57, a price-to-earnings-growth ratio of 3.16 and a beta of 0.48. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.85 and a current ratio of 0.85. The company has a 50 day moving average price of $71.94 and a two-hundred day moving average price of $73.45. Southwest Gas Holdings, Inc. has a 1 year low of $64.31 and a 1 year high of $80.29.

Southwest Gas (NYSE:SWX - Get Free Report) last posted its earnings results on Monday, May 12th. The utilities provider reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.04. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The business had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter in the previous year, the firm earned $1.37 earnings per share. The business's revenue was down 18.0% compared to the same quarter last year. On average, equities research analysts anticipate that Southwest Gas Holdings, Inc. will post 3.03 EPS for the current fiscal year.

Southwest Gas Dividend Announcement

The company 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 dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Friday, August 15th. Southwest Gas's dividend payout ratio (DPR) is currently 79.74%.

Insider Transactions at Southwest Gas

In other news, major shareholder Carl C. Icahn sold 2,100,000 shares of Southwest Gas 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 sale, the insider now owns 7,532,604 shares in the company, valued at approximately $561,932,258.40. The trade was a 21.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Bank of America upgraded Southwest Gas from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $69.00 to $74.00 in a report on Friday. Wall Street Zen downgraded Southwest Gas from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. decreased their price target on Southwest Gas from $76.00 to $72.00 and set a "neutral" rating for the company in a report on Tuesday, January 28th. Finally, LADENBURG THALM/SH SH raised Southwest Gas to a "strong-buy" rating in a report on Friday, May 9th. Five analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Southwest Gas currently has a consensus rating of "Hold" and a consensus target price of $74.25.

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.