Principal Financial Group Inc. Trims Stock Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

Principal Financial Group Inc. trimmed its position in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 5.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,079,717 shares of the utilities provider's stock after selling 66,757 shares during the quarter. Principal Financial Group Inc. owned about 1.51% of Southwest Gas worth $76,347,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SWX. Pacer Advisors Inc. increased its position in shares of Southwest Gas by 1.7% during the fourth quarter. Pacer Advisors Inc. now owns 8,979 shares of the utilities provider's stock valued at $635,000 after acquiring an additional 147 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Southwest Gas by 18.8% during the 4th 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. Pathstone Holdings LLC increased its holdings in Southwest Gas by 0.6% in the 3rd quarter. Pathstone Holdings LLC now owns 27,125 shares of the utilities provider's stock valued at $2,001,000 after purchasing an additional 165 shares during the last quarter. Clear Creek Financial Management LLC lifted its stake in 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 in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Southwest Gas by 48.2% during the fourth quarter. UMB Bank n.a. now owns 590 shares of the utilities provider's stock worth $42,000 after buying an additional 192 shares during the period. Hedge funds and other institutional investors own 92.77% of the company's stock.

Southwest Gas Stock Down 0.2 %

Southwest Gas stock traded down $0.16 during midday trading on Friday, reaching $76.92. The company's stock had a trading volume of 522,747 shares, compared to its average volume of 327,287. The business has a 50-day simple moving average of $72.89 and a 200-day simple moving average of $73.51. The company has a market cap of $5.52 billion, a P/E ratio of 31.01, a P/E/G ratio of 3.16 and a beta of 0.44. Southwest Gas Holdings, Inc. has a fifty-two week low of $60.88 and a fifty-two week high of $80.29. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21.

Southwest Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Thursday, May 15th. Southwest Gas's dividend payout ratio (DPR) is 100.00%.

Analysts Set New Price Targets

SWX has been the topic of several research analyst reports. Jefferies Financial Group started coverage on Southwest Gas in a report on Tuesday, January 14th. They issued a "hold" rating and a $73.00 price objective on the stock. LADENBURG THALM/SH SH raised shares of Southwest Gas to a "strong-buy" rating in a research report on Friday, January 24th. Bank of America reiterated an "underperform" rating and issued a $73.00 price objective on shares of Southwest Gas in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. lowered their target price on Southwest Gas from $76.00 to $72.00 and set a "neutral" rating for the company in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $73.80.

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.