First Trust Advisors LP Sells 22,061 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

First Trust Advisors LP trimmed its holdings in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 658,435 shares of the utilities provider's stock after selling 22,061 shares during the period. First Trust Advisors LP owned about 0.92% of Southwest Gas worth $46,558,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SWX. Arizona State Retirement System lifted its holdings in Southwest Gas by 0.8% during the 4th quarter. Arizona State Retirement System now owns 16,650 shares of the utilities provider's stock worth $1,177,000 after buying an additional 140 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Southwest Gas by 1.7% in the fourth quarter. Pacer Advisors Inc. now owns 8,979 shares of the utilities provider's stock worth $635,000 after purchasing an additional 147 shares during the period. Blue Trust Inc. boosted its holdings in Southwest Gas by 18.8% in the fourth quarter. Blue Trust Inc. now owns 937 shares of the utilities provider's stock worth $69,000 after purchasing an additional 148 shares during the period. D.A. Davidson & CO. increased its stake in Southwest Gas by 1.1% during the fourth quarter. D.A. Davidson & CO. now owns 15,766 shares of the utilities provider's stock valued at $1,115,000 after purchasing an additional 175 shares during the last quarter. Finally, Clear Creek Financial Management LLC raised its holdings in shares of Southwest Gas by 5.4% during the fourth quarter. Clear Creek Financial Management LLC now owns 3,427 shares of the utilities provider's stock worth $242,000 after purchasing an additional 176 shares during the period. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

Southwest Gas Trading Down 0.9 %

Shares of NYSE:SWX traded down $0.68 during midday trading on Friday, reaching $72.54. The company had a trading volume of 213,141 shares, compared to its average volume of 351,684. The company has a fifty day simple moving average of $73.17 and a two-hundred day simple moving average of $73.75. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of 29.25, a price-to-earnings-growth ratio of 3.16 and a beta of 0.50. Southwest Gas Holdings, Inc. has a 1-year low of $64.31 and a 1-year high of $80.29. 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 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 firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.35 billion. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. Research analysts predict that Southwest Gas Holdings, Inc. will post 3.03 earnings per share for the current year.

Southwest Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Thursday, May 15th. Southwest Gas's dividend payout ratio (DPR) is currently 90.18%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. LADENBURG THALM/SH SH raised shares of Southwest Gas to a "strong-buy" rating in a report on Tuesday, April 22nd. Jefferies Financial Group began coverage on Southwest Gas in a research note on Tuesday, January 14th. They issued a "hold" rating and a $73.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their price target on Southwest Gas from $76.00 to $72.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $74.00.

Insider Transactions at Southwest Gas

In other Southwest Gas 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 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.39% of the stock is currently owned by company insiders.

Southwest Gas 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.