Southwest Gas Holdings, Inc. (NYSE:SWX) Position Cut by Truist Financial Corp

Truist Financial Corp decreased its holdings in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 12.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 105,300 shares of the utilities provider's stock after selling 15,092 shares during the quarter. Truist Financial Corp owned about 0.15% of Southwest Gas worth $6,671,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. California Public Employees Retirement System lifted its stake in shares of Southwest Gas by 0.4% in the fourth quarter. California Public Employees Retirement System now owns 347,747 shares of the utilities provider's stock valued at $22,030,000 after purchasing an additional 1,351 shares during the period. Knights of Columbus Asset Advisors LLC lifted its position in shares of Southwest Gas by 94.6% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 75,923 shares of the utilities provider's stock valued at $4,810,000 after acquiring an additional 36,900 shares during the period. Xponance Inc. boosted its stake in shares of Southwest Gas by 8.8% during the 4th quarter. Xponance Inc. now owns 9,522 shares of the utilities provider's stock worth $603,000 after acquiring an additional 768 shares in the last quarter. River Road Asset Management LLC boosted its stake in shares of Southwest Gas by 0.6% during the 4th quarter. River Road Asset Management LLC now owns 1,183,049 shares of the utilities provider's stock worth $74,946,000 after acquiring an additional 7,143 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Southwest Gas by 9.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,099 shares of the utilities provider's stock worth $893,000 after acquiring an additional 1,260 shares during the period. Institutional investors and hedge funds own 92.77% of the company's stock.

Analyst Ratings Changes

Separately, Citigroup lifted their price objective on Southwest Gas from $64.00 to $73.00 and gave the stock a "neutral" rating in a report on Thursday, February 29th.

Southwest Gas Price Performance

NYSE SWX traded down $0.20 during trading hours on Friday, reaching $75.13. The company's stock had a trading volume of 241,228 shares, compared to its average volume of 489,192. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.12 and a current ratio of 1.12. The company's 50-day moving average is $72.85 and its two-hundred day moving average is $64.87. Southwest Gas Holdings, Inc. has a fifty-two week low of $53.79 and a fifty-two week high of $76.75. The stock has a market cap of $5.38 billion, a PE ratio of 35.44, a PEG ratio of 3.64 and a beta of 0.36.

Southwest Gas (NYSE:SWX - Get Free Report) last released 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. Southwest Gas had a net margin of 2.78% and a return on equity of 7.28%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.27 billion. Analysts forecast that Southwest Gas Holdings, Inc. will post 3.45 EPS for the current year.

Southwest Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be issued a $0.62 dividend. The ex-dividend date is Thursday, August 15th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.30%. Southwest Gas's dividend payout ratio (DPR) is 116.98%.

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.