Southwest Gas Holdings, Inc. (NYSE:SWX) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its position in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 312,830 shares of the utilities provider's stock after selling 5,668 shares during the quarter. California Public Employees Retirement System owned about 0.44% of Southwest Gas worth $22,120,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets raised its position in Southwest Gas by 30.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 19,765 shares of the utilities provider's stock worth $1,458,000 after purchasing an additional 4,611 shares during the period. Walleye Capital LLC purchased a new stake in shares of Southwest Gas in the third quarter worth approximately $1,645,000. Holocene Advisors LP purchased a new stake in shares of Southwest Gas in the third quarter worth approximately $1,809,000. Janus Henderson Group PLC boosted its holdings in Southwest Gas by 17.4% during the 3rd quarter. Janus Henderson Group PLC now owns 27,689 shares of the utilities provider's stock valued at $2,042,000 after acquiring an additional 4,097 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Southwest Gas by 107.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 83,306 shares of the utilities provider's stock valued at $6,145,000 after acquiring an additional 43,131 shares during the period. Hedge funds and other institutional investors own 92.77% of the company's stock.

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Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Bank of America reiterated an "underperform" rating and set a $73.00 target price on shares of Southwest Gas in a research report on Friday, December 13th. Jefferies Financial Group initiated coverage on shares of Southwest Gas in a research report on Tuesday, January 14th. They issued a "hold" rating and a $73.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of Southwest Gas from $76.00 to $72.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 28th. Finally, LADENBURG THALM/SH SH upgraded Southwest Gas to a "strong-buy" rating in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $74.00.

Southwest Gas Stock Up 2.7 %

NYSE SWX traded up $1.82 during trading on Tuesday, reaching $68.73. 50,786 shares of the company's stock traded hands, compared to its average volume of 406,537. The company's 50 day simple moving average is $74.66 and its two-hundred day simple moving average is $74.01. Southwest Gas Holdings, Inc. has a 12-month low of $64.31 and a 12-month high of $80.29. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 3.16 and a beta of 0.50. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85.

Southwest Gas (NYSE:SWX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.18. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.35 billion. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. As a group, sell-side 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 Monday, June 2nd. Stockholders of record on Thursday, May 15th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date is Thursday, May 15th. Southwest Gas's payout ratio is currently 90.18%.

Insider Transactions at Southwest Gas

In related news, major shareholder Carl C. Icahn sold 2,100,000 shares of the company's 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 transaction, the insider now directly owns 7,532,604 shares of the company's stock, valued at $561,932,258.40. This represents a 21.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.39% of the company's stock.

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.