International Assets Investment Management LLC Purchases 50,350 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

International Assets Investment Management LLC raised its stake in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 7,276.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,042 shares of the utilities provider's stock after buying an additional 50,350 shares during the period. International Assets Investment Management LLC owned about 0.07% of Southwest Gas worth $3,765,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SWX. UMB Bank n.a. grew its stake in Southwest Gas by 67.2% during the third quarter. UMB Bank n.a. now owns 398 shares of the utilities provider's stock worth $29,000 after purchasing an additional 160 shares during the period. Retirement Systems of Alabama raised its holdings in shares of Southwest Gas by 0.3% in the first quarter. Retirement Systems of Alabama now owns 75,442 shares of the utilities provider's stock valued at $5,743,000 after purchasing an additional 199 shares during the last quarter. V Square Quantitative Management LLC lifted its position in shares of Southwest Gas by 4.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 4,303 shares of the utilities provider's stock worth $317,000 after buying an additional 199 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Southwest Gas by 2.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,174 shares of the utilities provider's stock worth $645,000 after acquiring an additional 213 shares during the period. Finally, Blue Trust Inc. boosted 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. 92.77% of the stock is currently owned by institutional investors.

Insider Transactions at Southwest Gas

In other Southwest Gas news, CFO Robert J. Stefani sold 767 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $73.14, for a total transaction of $56,098.38. Following the completion of the transaction, the chief financial officer now owns 43,438 shares of the company's stock, valued at approximately $3,177,055.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.39% of the company's stock.

Southwest Gas Price Performance

Shares of Southwest Gas stock traded down $1.20 during trading on Friday, hitting $72.05. 189,532 shares of the stock traded hands, compared to its average volume of 245,988. Southwest Gas Holdings, Inc. has a 52 week low of $57.03 and a 52 week high of $78.46. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.38. The firm's fifty day moving average is $73.07 and its 200-day moving average is $73.55. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 28.59, a PEG ratio of 3.81 and a beta of 0.38.

Southwest Gas (NYSE:SWX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.17). The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. Southwest Gas had a return on equity of 6.18% and a net margin of 3.44%. Southwest Gas's revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 earnings per share. Research analysts expect that Southwest Gas Holdings, Inc. will post 3.21 EPS for the current fiscal year.

Southwest Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 yield of 3.44%. The ex-dividend date is Friday, November 15th. Southwest Gas's payout ratio is 98.41%.

Analysts Set New Price Targets

Several brokerages have weighed in on SWX. Wells Fargo & Company increased their price objective on Southwest Gas from $74.00 to $78.00 and gave the company an "equal weight" rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. decreased their price target on shares of Southwest Gas from $78.00 to $70.00 and set a "neutral" rating on the stock in a report on Thursday, August 15th.

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.