Nisa Investment Advisors LLC Lowers Stake in Southwest Gas Holdings, Inc. (NYSE:SWX)

Nisa Investment Advisors LLC cut its position in Southwest Gas Holdings, Inc. (NYSE:SWX) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,127 shares of the utilities provider’s stock after selling 291 shares during the period. Nisa Investment Advisors LLC’s holdings in Southwest Gas were worth $575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. increased its stake 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 buying an additional 160 shares in the last quarter. Waldron Private Wealth LLC purchased a new position in shares of Southwest Gas in the third quarter valued at $40,000. Blue Trust Inc. increased its holdings in shares of Southwest Gas by 37.5% in the 3rd quarter. Blue Trust Inc. now owns 789 shares of the utilities provider’s stock worth $56,000 after buying an additional 215 shares during the last quarter. ST Germain D J Co. Inc. raised its position in Southwest Gas by 206.2% during the fourth quarter. ST Germain D J Co. Inc. now owns 845 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 569 shares during the period. Finally, nVerses Capital LLC purchased a new position in Southwest Gas during the third quarter worth $66,000. 92.77% of the stock is owned by hedge funds and other institutional investors.

Southwest Gas Stock Down 1.0 %

SWX stock opened at $73.82 on Wednesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.85 and a current ratio of 0.85. The company’s 50 day moving average price is $72.98 and its 200 day moving average price is $73.17. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 3.02 and a beta of 0.43. Southwest Gas Holdings, Inc. has a fifty-two week low of $57.55 and a fifty-two week high of $80.29.

Southwest Gas (NYSE:SWX) last announced its earnings results on Wednesday, November 6th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the firm posted $0.10 earnings per share. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, equities research analysts anticipate that Southwest Gas Holdings, Inc. will post 3.12 EPS for the current fiscal year.

Southwest Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be given a $0.62 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $2.48 annualized dividend and a dividend yield of 3.36%. Southwest Gas’s dividend payout ratio is presently 100.00%.

Insider Buying and Selling

In other Southwest Gas news, major shareholder Carl C. Icahn sold 1,390,000 shares of Southwest Gas stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $76.74, for a total value of $106,668,600.00. Following the transaction, the insider now owns 9,632,604 shares in the company, valued at $739,206,030.96. This trade represents a 12.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.39% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SWX has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Southwest Gas from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Tuesday. Bank of America reaffirmed an “underperform” rating and set a $73.00 price objective on shares of Southwest Gas in a research report on Friday, December 13th. Jefferies Financial Group started coverage on shares of Southwest Gas in a report on Tuesday, January 14th. They issued a “hold” rating and a $73.00 price target on the stock. Finally, LADENBURG THALM/SH SH upgraded shares of Southwest Gas to a “strong-buy” rating in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $73.80.

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.