Peregrine Capital Management LLC Decreases Stock Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

Peregrine Capital Management LLC trimmed its position in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 25.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 112,020 shares of the utilities provider's stock after selling 37,410 shares during the period. Peregrine Capital Management LLC owned approximately 0.16% of Southwest Gas worth $7,096,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Optas LLC boosted its position in shares of Southwest Gas by 20.9% in the 4th quarter. Optas LLC now owns 5,500 shares of the utilities provider's stock worth $348,000 after purchasing an additional 951 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Southwest Gas in the fourth quarter worth about $333,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Southwest Gas by 17.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 18,039 shares of the utilities provider's stock valued at $1,143,000 after acquiring an additional 2,634 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Southwest Gas by 9,907.0% during the fourth quarter. International Assets Investment Management LLC now owns 54,038 shares of the utilities provider's stock valued at $3,423,000 after acquiring an additional 53,498 shares in the last quarter. Finally, Allworth Financial LP raised its position in shares of Southwest Gas by 520.4% in the 4th quarter. Allworth Financial LP now owns 3,071 shares of the utilities provider's stock valued at $195,000 after purchasing an additional 2,576 shares during the last quarter. 92.77% of the stock is owned by hedge funds and other institutional investors.

Southwest Gas Stock Performance

Shares of SWX stock traded down $0.38 during trading hours on Thursday, hitting $73.02. The company's stock had a trading volume of 917,867 shares, compared to its average volume of 464,587. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.39. The company has a 50 day moving average of $68.26 and a 200 day moving average of $63.25. Southwest Gas Holdings, Inc. has a 12-month low of $53.79 and a 12-month high of $76.75. The stock has a market cap of $5.23 billion, a PE ratio of 34.44, a price-to-earnings-growth ratio of 3.70 and a beta of 0.36.

Southwest Gas (NYSE:SWX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $0.97 by $0.16. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.27 billion. Southwest Gas had a net margin of 2.78% and a return on equity of 7.28%. On average, sell-side analysts forecast that Southwest Gas Holdings, Inc. will post 3.41 EPS for the current fiscal year.

Southwest Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Tuesday, May 14th. Southwest Gas's payout ratio is presently 116.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Southwest Gas from a "sell" rating to a "hold" rating in a research note on Wednesday, December 27th. Citigroup lifted their price target on Southwest Gas from $64.00 to $73.00 and gave the stock a "neutral" rating in a research report on Thursday, February 29th.

Southwest Gas 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.