Sei Investments Co. Reduces Stock Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

Sei Investments Co. lowered its holdings in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 23.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 98,136 shares of the utilities provider's stock after selling 30,568 shares during the quarter. Sei Investments Co. owned approximately 0.14% of Southwest Gas worth $6,939,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SWX. Teacher Retirement System of Texas lifted its stake in shares of Southwest Gas by 19.9% during the 4th quarter. Teacher Retirement System of Texas now owns 11,784 shares of the utilities provider's stock worth $833,000 after purchasing an additional 1,954 shares during the last quarter. Xponance Inc. boosted its holdings in shares of Southwest Gas by 5.0% in the 4th quarter. Xponance Inc. now owns 8,588 shares of the utilities provider's stock valued at $607,000 after buying an additional 406 shares in the last quarter. Cibc World Markets Corp bought a new stake in shares of Southwest Gas in the 4th quarter valued at about $403,000. Envestnet Portfolio Solutions Inc. grew its position in shares of Southwest Gas by 13.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,245 shares of the utilities provider's stock worth $229,000 after buying an additional 391 shares during the last quarter. Finally, Vestcor Inc bought a new position in shares of Southwest Gas during the 4th quarter worth approximately $433,000. Hedge funds and other institutional investors own 92.77% of the company's stock.

Southwest Gas Stock Performance

Shares of SWX stock traded down $3.47 on Friday, hitting $68.78. The company had a trading volume of 797,406 shares, compared to its average volume of 357,858. The company has a 50-day moving average price of $74.81 and a 200-day moving average price of $74.06. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21. The firm has a market cap of $4.94 billion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 3.16 and a beta of 0.50. Southwest Gas Holdings, Inc. has a twelve month low of $64.31 and a twelve month high of $80.29.

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

Southwest Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.48 annualized dividend and a dividend yield of 3.61%. Southwest Gas's dividend payout ratio (DPR) is presently 90.18%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Bank of America reaffirmed an "underperform" rating and issued a $73.00 price target on shares of Southwest Gas in a report on Friday, December 13th. Jefferies Financial Group started coverage on Southwest Gas in a research note on Tuesday, January 14th. They set a "hold" rating and a $73.00 target price on the stock. LADENBURG THALM/SH SH upgraded Southwest Gas to a "strong-buy" rating in a research note on Monday, March 17th. Finally, 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 report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $74.00.

Insider Activity at Southwest Gas

In related news, major shareholder Carl C. Icahn sold 2,100,000 shares of the 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 completion of the transaction, the insider now directly owns 7,532,604 shares of the company's stock, valued at approximately $561,932,258.40. This represents a 21.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is currently owned by corporate insiders.

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.