Allspring Global Investments Holdings LLC Reduces Stock Holdings in Southwest Gas Holdings, Inc. (NYSE:SWX)

Allspring Global Investments Holdings LLC trimmed its position in Southwest Gas Holdings, Inc. (NYSE:SWX) by 18.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,096 shares of the utilities provider’s stock after selling 1,346 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Southwest Gas were worth $450,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SWX. UMB Bank n.a. lifted its holdings in Southwest Gas by 67.2% in the 3rd quarter. UMB Bank n.a. now owns 398 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 160 shares in the last quarter. GAMMA Investing LLC increased its stake in Southwest Gas by 154.8% in the 2nd quarter. GAMMA Investing LLC now owns 428 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 260 shares during the last quarter. Blue Trust Inc. increased its position in shares of Southwest Gas by 96.6% during the 2nd quarter. Blue Trust Inc. now owns 574 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 282 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Southwest Gas during the 2nd quarter valued at $49,000. Finally, nVerses Capital LLC purchased a new stake in Southwest Gas during the 3rd quarter valued at $66,000. 92.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Southwest Gas news, CFO Robert J. Stefani sold 767 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $73.14, for a total value of $56,098.38. Following the sale, the chief financial officer now owns 43,438 shares in the company, valued at $3,177,055.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.39% of the company’s stock.

Southwest Gas Stock Performance

SWX stock opened at $72.05 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.38. The business’s fifty day simple moving average is $73.07 and its two-hundred day simple moving average is $73.55. Southwest Gas Holdings, Inc. has a twelve month low of $57.03 and a twelve month high of $78.46. The firm has a market cap of $5.17 billion, a price-to-earnings ratio of 28.59, a PEG ratio of 3.81 and a beta of 0.38.

Southwest Gas (NYSE:SWX) last released its earnings results on Tuesday, August 6th. The utilities provider reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). Southwest Gas had a return on equity of 6.18% and a net margin of 3.44%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the business earned $0.47 EPS. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. Analysts predict that Southwest Gas Holdings, Inc. will post 3.21 earnings per share for the current year.

Southwest Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.48 dividend on an annualized basis and a yield of 3.44%. Southwest Gas’s payout ratio is 98.41%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wells Fargo & Company increased their price target on Southwest Gas from $74.00 to $78.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. decreased their price target on Southwest Gas from $78.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th.

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.