Jefferies Financial Group Inc. Acquires New Stake in Southwest Gas Holdings, Inc. (NYSE:SWX)

Jefferies Financial Group Inc. purchased a new position in shares of Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 44,083 shares of the utilities provider's stock, valued at approximately $3,117,000. Jefferies Financial Group Inc. owned approximately 0.06% of Southwest Gas as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in SWX. Blue Trust Inc. grew its holdings in shares of Southwest Gas by 18.8% during the 4th quarter. Blue Trust Inc. now owns 937 shares of the utilities provider's stock valued at $69,000 after purchasing an additional 148 shares during the last quarter. AlphaQuest LLC grew 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 buying an additional 945 shares during the last quarter. 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 worth $72,000 after buying an additional 290 shares during the period. KBC Group NV increased its holdings in shares of Southwest Gas by 54.0% in the fourth quarter. KBC Group NV now owns 2,832 shares of the utilities provider's stock worth $200,000 after buying an additional 993 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Southwest Gas in the 4th quarter valued at about $207,000. 92.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on SWX shares. Bank of America upgraded Southwest Gas from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $69.00 to $74.00 in a research report on Friday, May 23rd. LADENBURG THALM/SH SH raised Southwest Gas to a "strong-buy" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. cut 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. Finally, Wall Street Zen downgraded shares of Southwest Gas from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Five equities 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 a consensus rating of "Hold" and an average price target of $75.00.

Southwest Gas Trading Down 0.0%

SWX traded down $0.01 during midday trading on Friday, reaching $71.89. 433,955 shares of the company's stock traded hands, compared to its average volume of 362,854. Southwest Gas Holdings, Inc. has a 52 week low of $64.31 and a 52 week high of $80.29. 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 firm has a fifty day moving average of $71.60 and a two-hundred day moving average of $73.36. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 28.99, 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 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.04. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.50 billion. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The firm's revenue for the quarter was down 18.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.37 earnings per share. On average, equities analysts anticipate that Southwest Gas Holdings, Inc. will post 3.03 earnings per share for the current fiscal year.

Southwest Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Friday, August 15th. Southwest Gas's payout ratio is 79.74%.

Insider Buying and Selling

In related news, major shareholder Carl C. Icahn sold 2,100,000 shares of Southwest Gas stock in a transaction dated 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 completion of the transaction, the insider now directly 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.39% of the stock is owned by insiders.

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.