Truist Financial Corp Trims Stock Holdings in Southwest Gas Holdings, Inc. (NYSE:SWX)

Truist Financial Corp trimmed its position in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 19.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,011 shares of the utilities provider's stock after selling 20,135 shares during the period. Truist Financial Corp owned about 0.11% of Southwest Gas worth $5,772,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new stake in shares of Southwest Gas during the first quarter worth $936,000. Hotchkis & Wiley Capital Management LLC lifted its position in Southwest Gas by 6.7% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 186,570 shares of the utilities provider's stock worth $11,819,000 after buying an additional 11,780 shares during the period. Wellington Management Group LLP boosted its stake in Southwest Gas by 24.4% in the 4th quarter. Wellington Management Group LLP now owns 1,059,348 shares of the utilities provider's stock worth $67,110,000 after buying an additional 207,798 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Southwest Gas by 41.9% in the 2nd quarter. Victory Capital Management Inc. now owns 206,114 shares of the utilities provider's stock valued at $14,506,000 after buying an additional 60,856 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in shares of Southwest Gas during the 4th quarter valued at about $239,000. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SWX shares. Wells Fargo & Company raised 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 report on Wednesday, September 25th. JPMorgan Chase & Co. cut their price target on shares of Southwest Gas from $78.00 to $70.00 and set a "neutral" rating on the stock in a research note on Thursday, August 15th.

Insider Activity at Southwest Gas

In related 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 completion of the sale, the chief financial officer now directly owns 43,438 shares in the company, valued at approximately $3,177,055.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.39% of the company's stock.

Southwest Gas Trading Up 0.1 %

NYSE:SWX traded up $0.05 on Tuesday, hitting $73.85. 231,086 shares of the stock were exchanged, compared to its average volume of 393,131. The stock has a fifty day moving average of $72.25 and a 200-day moving average of $73.59. The stock has a market cap of $5.29 billion, a PE ratio of 27.66, a PEG ratio of 3.83 and a beta of 0.38. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.38. Southwest Gas Holdings, Inc. has a fifty-two week low of $56.17 and a fifty-two week high of $78.46.

Southwest Gas (NYSE:SWX - Get Free Report) last issued its earnings results on Tuesday, August 6th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.17). The firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.20 billion. Southwest Gas had a return on equity of 6.18% and a net margin of 3.44%. The firm's revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 EPS. As a group, equities analysts expect that Southwest Gas Holdings, Inc. will post 3.2 earnings per share for the current fiscal year.

Southwest Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Friday, November 15th. Southwest Gas's dividend payout ratio is presently 92.88%.

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.