Tower Research Capital LLC TRC Purchases 8,565 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

Tower Research Capital LLC TRC increased its position in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 410.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,653 shares of the utilities provider's stock after buying an additional 8,565 shares during the quarter. Tower Research Capital LLC TRC's holdings in Southwest Gas were worth $753,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Southwest Gas during the 4th quarter valued at about $51,011,000. JPMorgan Chase & Co. grew its position in Southwest Gas by 83.3% in the fourth quarter. JPMorgan Chase & Co. now owns 505,555 shares of the utilities provider's stock worth $35,748,000 after buying an additional 229,739 shares during the last quarter. FMR LLC increased its holdings in shares of Southwest Gas by 3.3% in the fourth quarter. FMR LLC now owns 3,322,085 shares of the utilities provider's stock valued at $234,905,000 after buying an additional 105,549 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Southwest Gas during the 4th quarter valued at $6,946,000. Finally, Trexquant Investment LP grew its holdings in shares of Southwest Gas by 144.3% in the 4th quarter. Trexquant Investment LP now owns 139,144 shares of the utilities provider's stock worth $9,839,000 after acquiring an additional 82,192 shares during the last quarter. 92.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Southwest Gas

In other news, major shareholder Carl C. Icahn sold 2,100,000 shares of the company'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 owns 7,532,604 shares in the company, valued at approximately $561,932,258.40. This represents a 21.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.39% of the company's stock.

Southwest Gas Stock Down 1.0 %

Shares of SWX stock traded down $0.70 during trading on Wednesday, hitting $72.17. 417,407 shares of the company were exchanged, compared to its average volume of 350,358. The business's 50-day simple moving average is $72.99 and its 200 day simple moving average is $73.74. Southwest Gas Holdings, Inc. has a twelve month low of $64.31 and a twelve month high of $80.29. The firm has a market capitalization of $5.19 billion, a price-to-earnings ratio of 29.10, a P/E/G ratio of 3.16 and a beta of 0.50. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.85 and a current ratio of 0.85.

Southwest Gas (NYSE:SWX - Get Free Report) last posted its quarterly 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. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. The business had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.35 billion. As a group, analysts forecast that Southwest Gas Holdings, Inc. will post 3.03 EPS for the current fiscal year.

Southwest Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.44%. Southwest Gas's dividend payout ratio is currently 90.18%.

Analyst Ratings Changes

SWX has been the topic of several recent analyst reports. LADENBURG THALM/SH SH upgraded Southwest Gas to a "strong-buy" rating in a report on Tuesday, April 22nd. JPMorgan Chase & Co. cut their price target on shares of Southwest Gas from $76.00 to $72.00 and set a "neutral" rating on the stock in a report on Tuesday, January 28th. Finally, Jefferies Financial Group assumed coverage on shares of Southwest Gas in a research note on Tuesday, January 14th. They issued a "hold" rating and a $73.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $74.00.

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.