Massachusetts Financial Services Co. MA Sells 170,060 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

Massachusetts Financial Services Co. MA cut its stake in shares of Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 19.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 693,652 shares of the utilities provider's stock after selling 170,060 shares during the period. Massachusetts Financial Services Co. MA owned about 0.97% of Southwest Gas worth $43,943,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Southwest Gas by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 856,249 shares of the utilities provider's stock valued at $54,245,000 after buying an additional 34,995 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Southwest Gas by 74.6% in the fourth quarter. BNP Paribas Financial Markets now owns 56,720 shares of the utilities provider's stock valued at $3,593,000 after acquiring an additional 24,238 shares during the last quarter. Teacher Retirement System of Texas grew its position in Southwest Gas by 24.4% in the fourth quarter. Teacher Retirement System of Texas now owns 6,861 shares of the utilities provider's stock worth $435,000 after acquiring an additional 1,346 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Southwest Gas by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 577,116 shares of the utilities provider's stock worth $36,560,000 after purchasing an additional 13,668 shares during the last quarter. Finally, Maryland State Retirement & Pension System increased its stake in shares of Southwest Gas by 1.5% during the 4th quarter. Maryland State Retirement & Pension System now owns 50,551 shares of the utilities provider's stock worth $3,202,000 after purchasing an additional 731 shares during the last quarter. Institutional investors and hedge funds own 92.77% of the company's stock.

Southwest Gas Stock Performance

Shares of Southwest Gas stock traded up $0.31 on Friday, reaching $77.68. The stock had a trading volume of 297,444 shares, compared to its average volume of 452,137. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.04 and a current ratio of 1.04. The business's 50-day moving average price is $74.28 and its two-hundred day moving average price is $66.17. The stock has a market cap of $5.57 billion, a P/E ratio of 29.09, a price-to-earnings-growth ratio of 3.71 and a beta of 0.36. Southwest Gas Holdings, Inc. has a fifty-two week low of $55.79 and a fifty-two week high of $77.91.

Southwest Gas (NYSE:SWX - Get Free Report) last released its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.70 by ($0.33). The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.38 billion. Southwest Gas had a net margin of 3.56% and a return on equity of 6.71%. The firm's revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the company earned $1.69 earnings per share. On average, sell-side analysts forecast that Southwest Gas Holdings, Inc. will post 3.42 EPS for the current year.

Southwest Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Thursday, August 15th. Southwest Gas's dividend payout ratio is currently 92.88%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup increased their target price on shares of Southwest Gas from $64.00 to $73.00 and gave the stock a "neutral" rating in a research report on Thursday, February 29th. Wells Fargo & Company assumed coverage on Southwest Gas in a report on Monday. They set an "equal weight" rating and a $77.00 price objective on the stock.

Insider Transactions at Southwest Gas

In related news, insider Justin L. Brown sold 2,625 shares of the business's stock in a transaction on Monday, May 13th. The shares were sold at an average price of $76.50, for a total transaction of $200,812.50. Following the transaction, the insider now owns 23,830 shares of the company's stock, valued at $1,822,995. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.39% of the company's stock.

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.