Southwest Gas Holdings, Inc. (NYSE:SWX) Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. lifted its position in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 50.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 168,860 shares of the utilities provider's stock after purchasing an additional 56,659 shares during the quarter. Ameriprise Financial Inc. owned about 0.24% of Southwest Gas worth $11,940,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Arizona State Retirement System increased its stake in shares of Southwest Gas by 0.8% in the fourth quarter. Arizona State Retirement System now owns 16,650 shares of the utilities provider's stock worth $1,177,000 after acquiring an additional 140 shares during the period. Pacer Advisors Inc. increased its stake in shares of Southwest Gas by 1.7% in the fourth quarter. Pacer Advisors Inc. now owns 8,979 shares of the utilities provider's stock worth $635,000 after acquiring an additional 147 shares during the period. Blue Trust Inc. increased its stake in shares of Southwest Gas by 18.8% in the fourth quarter. Blue Trust Inc. now owns 937 shares of the utilities provider's stock worth $69,000 after acquiring an additional 148 shares during the period. D.A. Davidson & CO. increased its stake in shares of Southwest Gas by 1.1% in the fourth quarter. D.A. Davidson & CO. now owns 15,766 shares of the utilities provider's stock worth $1,115,000 after acquiring an additional 175 shares during the period. Finally, Clear Creek Financial Management LLC boosted its stake in shares of Southwest Gas by 5.4% in the fourth quarter. Clear Creek Financial Management LLC now owns 3,427 shares of the utilities provider's stock worth $242,000 after buying an additional 176 shares during the last quarter. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

Southwest Gas Price Performance

Southwest Gas stock traded down $1.97 during trading on Wednesday, reaching $69.09. The company had a trading volume of 431,398 shares, compared to its average volume of 359,764. The firm has a market capitalization of $4.97 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 3.16 and a beta of 0.48. Southwest Gas Holdings, Inc. has a 1-year low of $64.31 and a 1-year high of $80.29. The firm's 50-day simple moving average is $72.17 and its 200 day simple moving average is $73.49. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.85 and a current ratio of 0.85.

Southwest Gas (NYSE:SWX - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The utilities provider reported $1.65 EPS for the quarter, beating the consensus estimate of $1.61 by $0.04. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the company earned $1.37 EPS. The firm's revenue was down 18.0% compared to the same quarter last year. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders 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 yield of 3.59%. The ex-dividend date is Friday, August 15th. Southwest Gas's dividend payout ratio (DPR) is currently 79.74%.

Analyst Ratings Changes

Several research firms recently issued reports on SWX. StockNews.com cut shares of Southwest Gas from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. LADENBURG THALM/SH SH upgraded Southwest Gas to a "strong-buy" rating in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. cut their price target on Southwest Gas from $76.00 to $72.00 and set a "neutral" rating for the company in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Southwest Gas has an average rating of "Hold" and an average target price of $74.00.

Insiders Place Their Bets

In other Southwest Gas news, major shareholder Carl C. Icahn sold 2,100,000 shares of the firm's stock in a transaction on 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 completion of the sale, the insider now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is owned by insiders.

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.