Jane Street Group LLC lessened its position in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 44.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 81,079 shares of the utilities provider's stock after selling 64,467 shares during the quarter. Jane Street Group LLC owned approximately 0.11% of Southwest Gas worth $5,980,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Citigroup Inc. boosted its position in Southwest Gas by 234.1% in the 3rd quarter. Citigroup Inc. now owns 53,403 shares of the utilities provider's stock valued at $3,939,000 after buying an additional 37,418 shares during the period. Victory Capital Management Inc. raised its stake in shares of Southwest Gas by 41.9% in the second quarter. Victory Capital Management Inc. now owns 206,114 shares of the utilities provider's stock valued at $14,506,000 after acquiring an additional 60,856 shares in the last quarter. Summit Global Investments purchased a new position in Southwest Gas in the third quarter valued at $1,349,000. New York State Common Retirement Fund grew its stake in Southwest Gas by 3.0% during the 3rd quarter. New York State Common Retirement Fund now owns 267,589 shares of the utilities provider's stock worth $19,737,000 after purchasing an additional 7,858 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Southwest Gas by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 977,810 shares of the utilities provider's stock worth $72,123,000 after purchasing an additional 35,106 shares during the period. Institutional investors and hedge funds own 92.77% of the company's stock.
Insiders Place Their Bets
In other news, major shareholder Carl C. Icahn sold 1,390,000 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 of the company's stock, valued at approximately $739,206,030.96. The trade was a 12.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.39% of the stock is currently owned by insiders.
Southwest Gas Stock Performance
NYSE SWX traded down $0.72 during trading hours on Monday, hitting $72.13. The company had a trading volume of 368,849 shares, compared to its average volume of 372,530. The business has a 50 day moving average of $75.35 and a 200-day moving average of $73.66. The company has a market cap of $5.17 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 3.84 and a beta of 0.41. Southwest Gas Holdings, Inc. has a 1-year low of $57.55 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 released its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.12 billion. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The firm's revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 earnings per share. As a group, equities research analysts expect that Southwest Gas Holdings, Inc. will post 3.16 EPS for the current year.
Southwest Gas Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Tuesday, February 18th. Southwest Gas's dividend payout ratio is currently 100.00%.
Analyst Ratings Changes
Several research analysts have commented on SWX shares. Bank of America reiterated an "underperform" rating and set a $73.00 price target on shares of Southwest Gas in a report on Friday. Wells Fargo & Company boosted their target price on shares of Southwest Gas from $74.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $73.50.
Check Out Our Latest Analysis on Southwest Gas
About Southwest Gas
(
Free Report)
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.
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