Southwest Gas Holdings, Inc. (NYSE:SWX) Stake Lessened by First Trust Advisors LP

First Trust Advisors LP trimmed its position in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 658,435 shares of the utilities provider's stock after selling 22,061 shares during the period. First Trust Advisors LP owned about 0.92% of Southwest Gas worth $46,558,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co increased its stake in Southwest Gas by 1.8% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 84,167 shares of the utilities provider's stock valued at $5,944,000 after purchasing an additional 1,489 shares during the last quarter. Keeley Teton Advisors LLC increased its stake in shares of Southwest Gas by 11.9% during the 4th quarter. Keeley Teton Advisors LLC now owns 107,910 shares of the utilities provider's stock valued at $7,630,000 after acquiring an additional 11,436 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in shares of Southwest Gas by 15.8% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 64,686 shares of the utilities provider's stock worth $4,574,000 after acquiring an additional 8,816 shares during the period. Walleye Capital LLC boosted its position in shares of Southwest Gas by 51.4% in the fourth quarter. Walleye Capital LLC now owns 33,758 shares of the utilities provider's stock worth $2,387,000 after acquiring an additional 11,454 shares during the last quarter. Finally, Icon Advisers Inc. Co. purchased a new stake in Southwest Gas in the fourth quarter valued at approximately $2,899,000. 92.77% of the stock is owned by institutional investors and hedge funds.

Southwest Gas Stock Down 0.3 %

NYSE SWX traded down $0.22 during trading hours on Tuesday, hitting $72.54. The company had a trading volume of 30,260 shares, compared to its average volume of 349,956. The firm's 50 day moving average is $73.07 and its 200 day moving average is $73.75. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 29.29, a P/E/G ratio of 3.16 and a beta of 0.50. Southwest Gas Holdings, Inc. has a fifty-two week low of $64.31 and a fifty-two 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.

Southwest Gas (NYSE:SWX - Get Free Report) last announced its earnings results on Wednesday, February 26th. The utilities provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.21 by $0.18. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.35 billion. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. Sell-side analysts anticipate that Southwest Gas Holdings, Inc. will post 3.03 earnings per share for the current fiscal year.

Southwest Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Thursday, May 15th. Southwest Gas's payout ratio is 90.18%.

Insider Buying and Selling

In other news, major shareholder Carl C. Icahn sold 2,100,000 shares of the firm's 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 completion of the sale, the insider now directly owns 7,532,604 shares in the company, valued at $561,932,258.40. This trade represents a 21.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SWX. Jefferies Financial Group started coverage on shares of Southwest Gas in a report on Tuesday, January 14th. They issued a "hold" rating and a $73.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on Southwest Gas from $76.00 to $72.00 and set a "neutral" rating for the company in a research report on Tuesday, January 28th. Finally, LADENBURG THALM/SH SH upgraded Southwest Gas to a "strong-buy" rating in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $74.00.

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.