Summit Global Investments Has $621,000 Stock Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

Summit Global Investments decreased its position in shares of Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 45.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,655 shares of the utilities provider's stock after selling 7,235 shares during the period. Summit Global Investments' holdings in Southwest Gas were worth $621,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SWX. Blue Trust Inc. grew its stake in 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 in the last quarter. AlphaQuest LLC grew its holdings in Southwest Gas by 94,500.0% during the 4th quarter. AlphaQuest LLC now owns 946 shares of the utilities provider's stock worth $67,000 after acquiring an additional 945 shares in the last quarter. Covestor Ltd lifted its position in shares of Southwest Gas by 40.1% during the fourth quarter. Covestor Ltd now owns 1,013 shares of the utilities provider's stock worth $72,000 after purchasing an additional 290 shares during the last quarter. KBC Group NV increased its holdings in Southwest Gas by 54.0% in the fourth quarter. KBC Group NV now owns 2,832 shares of the utilities provider's stock valued at $200,000 after buying an additional 993 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Southwest Gas during the 4th quarter worth approximately $207,000. Institutional investors and hedge funds own 92.77% of the company's stock.

Southwest Gas Price Performance

NYSE SWX traded up $2.12 on Tuesday, reaching $73.76. 562,601 shares of the stock traded hands, compared to its average volume of 363,072. Southwest Gas Holdings, Inc. has a 12 month low of $64.31 and a 12 month high of $80.29. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 29.74, a P/E/G ratio of 3.16 and a beta of 0.48. The firm's fifty day simple moving average is $71.57 and its 200 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 (NYSE:SWX - Get Free Report) last released its earnings results on Monday, May 12th. The utilities provider reported $1.65 earnings per share (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 firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the company earned $1.37 earnings per share. Southwest Gas's revenue was down 18.0% compared to the same quarter last year. As a group, research analysts predict that Southwest Gas Holdings, Inc. will post 3.03 EPS for the current fiscal year.

Southwest Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be given a $0.62 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.48 annualized dividend and a yield of 3.36%. Southwest Gas's dividend payout ratio (DPR) is 79.74%.

Insiders Place Their Bets

In related news, major shareholder Carl C. Icahn sold 2,100,000 shares of Southwest Gas stock in a transaction on Monday, March 24th. The stock was sold at an average price of $74.60, for a total value of $156,660,000.00. Following the transaction, the insider now directly owns 7,532,604 shares in the company, valued at $561,932,258.40. The trade was a 21.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.39% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SWX shares. Wall Street Zen downgraded shares of Southwest Gas from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. LADENBURG THALM/SH SH upgraded Southwest Gas to a "strong-buy" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. cut their price target 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, Bank of America raised shares of Southwest Gas from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $69.00 to $74.00 in a report on Friday, May 23rd. Five equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target 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.