Public Employees Retirement System of Ohio Raises Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

Public Employees Retirement System of Ohio grew its position in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 174.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,146 shares of the utilities provider's stock after buying an additional 17,269 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Southwest Gas were worth $1,919,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Southwest Gas by 30.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 166,164 shares of the utilities provider's stock valued at $11,749,000 after acquiring an additional 38,510 shares during the last quarter. Zimmer Partners LP grew its stake in Southwest Gas by 884.4% during the fourth quarter. Zimmer Partners LP now owns 910,615 shares of the utilities provider's stock worth $64,390,000 after buying an additional 818,115 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Southwest Gas during the fourth quarter worth $863,000. Twinbeech Capital LP acquired a new position in shares of Southwest Gas during the fourth quarter worth approximately $1,506,000. Finally, Royal Bank of Canada lifted its position in Southwest Gas by 35.0% during the 4th quarter. Royal Bank of Canada now owns 300,180 shares of the utilities provider's stock valued at $21,225,000 after purchasing an additional 77,808 shares during the period. 92.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Bank of America upgraded Southwest Gas from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $69.00 to $74.00 in a report on Friday, May 23rd. Wall Street Zen cut shares of Southwest Gas from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. decreased their price objective on Southwest Gas from $79.00 to $75.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Finally, LADENBURG THALM/SH SH raised Southwest Gas to a "strong-buy" rating in a report on Friday, May 9th. Five research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $75.00.

Southwest Gas Trading Up 3.0%

Shares of Southwest Gas stock traded up $2.12 on Tuesday, hitting $73.76. The stock had a trading volume of 562,601 shares, compared to its average volume of 363,072. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 3.16 and a beta of 0.48. The stock's 50-day simple moving average is $71.57 and its two-hundred day simple moving average is $73.24. 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 one year low of $64.31 and a one year high of $80.29.

Southwest Gas (NYSE:SWX - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The utilities provider reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.04. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.50 billion. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The business's quarterly revenue was down 18.0% compared to the same quarter last year. During the same period last year, the company earned $1.37 EPS. As a group, sell-side analysts predict that Southwest Gas Holdings, Inc. will post 3.03 EPS for the current year.

Southwest Gas Dividend Announcement

The company also recently declared 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. This represents a $2.48 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend is Friday, August 15th. Southwest Gas's dividend payout ratio (DPR) is currently 79.74%.

Insiders Place Their Bets

In related news, major shareholder Carl C. Icahn sold 2,100,000 shares of the company's stock in a transaction 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 transaction, the insider now owns 7,532,604 shares of the company's stock, valued at approximately $561,932,258.40. This represents a 21.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.39% of the company's stock.

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.