Raymond James Financial Inc. Makes New $6.95 Million Investment in Southwest Gas Holdings, Inc. (NYSE:SWX)

Raymond James Financial Inc. bought a new position in shares of Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 98,232 shares of the utilities provider's stock, valued at approximately $6,946,000. Raymond James Financial Inc. owned 0.14% of Southwest Gas as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its position in shares of Southwest Gas by 599.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 9,877 shares of the utilities provider's stock worth $729,000 after acquiring an additional 8,464 shares in the last quarter. Citigroup Inc. increased its stake in Southwest Gas by 234.1% in the third quarter. Citigroup Inc. now owns 53,403 shares of the utilities provider's stock valued at $3,939,000 after purchasing an additional 37,418 shares during the last quarter. Hennessy Advisors Inc. lifted its position in shares of Southwest Gas by 31.1% during the 4th quarter. Hennessy Advisors Inc. now owns 110,817 shares of the utilities provider's stock worth $7,836,000 after buying an additional 26,300 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Southwest Gas in the 4th quarter valued at $1,000,000. Finally, O Keefe Stevens Advisory Inc. grew its position in shares of Southwest Gas by 45.0% in the 4th quarter. O Keefe Stevens Advisory Inc. now owns 11,775 shares of the utilities provider's stock valued at $833,000 after buying an additional 3,654 shares during the last quarter. Institutional investors and hedge funds own 92.77% of the company's stock.

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Insider Transactions at Southwest Gas

In related news, major shareholder Carl C. Icahn sold 2,100,000 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $74.60, for a total transaction of $156,660,000.00. Following the sale, the insider now owns 7,532,604 shares of the company's stock, valued at approximately $561,932,258.40. The trade was a 21.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.39% of the company's stock.

Southwest Gas Price Performance

Shares of SWX stock remained flat at $72.11 during mid-day trading on Thursday. 391,439 shares of the stock traded hands, compared to its average volume of 334,142. Southwest Gas Holdings, Inc. has a one year low of $64.31 and a one year high of $80.29. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21. The company has a fifty day simple moving average of $74.89 and a 200-day simple moving average of $74.02. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 3.16 and a beta of 0.37.

Southwest Gas (NYSE:SWX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.18. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.35 billion. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. On average, analysts expect that Southwest Gas Holdings, Inc. will post 3.03 EPS for the current year.

Southwest Gas Announces Dividend

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 given a dividend of $0.62 per share. The ex-dividend date is Thursday, May 15th. This represents a $2.48 annualized dividend and a dividend yield of 3.44%. Southwest Gas's payout ratio is currently 90.18%.

Analysts Set New Price Targets

Several research firms have issued reports on SWX. LADENBURG THALM/SH SH upgraded shares of Southwest Gas to a "strong-buy" rating in a research note on Monday, March 17th. Jefferies Financial Group assumed coverage on Southwest Gas in a research note on Tuesday, January 14th. They set a "hold" rating and a $73.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on shares of Southwest Gas from $76.00 to $72.00 and set a "neutral" rating for the company in a research report on Tuesday, January 28th. Finally, Bank of America reissued an "underperform" rating and set a $73.00 price objective on shares of Southwest Gas in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $74.00.

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.