Sei Investments Co. Sells 30,568 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

Sei Investments Co. cut its stake in shares of Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 23.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,136 shares of the utilities provider's stock after selling 30,568 shares during the period. Sei Investments Co. owned approximately 0.14% of Southwest Gas worth $6,939,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew 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 buying an additional 8,464 shares during the period. Xponance Inc. grew its holdings in Southwest Gas by 5.0% during the fourth quarter. Xponance Inc. now owns 8,588 shares of the utilities provider's stock valued at $607,000 after purchasing an additional 406 shares during the period. 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 in the last quarter. Hennessy Advisors Inc. increased its stake in Southwest Gas by 31.1% in the fourth quarter. Hennessy Advisors Inc. now owns 110,817 shares of the utilities provider's stock valued at $7,836,000 after purchasing an additional 26,300 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Southwest Gas in the fourth quarter worth $1,000,000. Institutional investors own 92.77% of the company's stock.

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Insider Activity at Southwest Gas

In related news, major shareholder Carl C. Icahn sold 2,100,000 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $74.60, for a total value of $156,660,000.00. Following the completion of the transaction, the insider now directly owns 7,532,604 shares of the company's stock, valued at approximately $561,932,258.40. This trade represents a 21.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on SWX shares. Jefferies Financial Group began coverage on Southwest Gas in a research note on Tuesday, January 14th. They set a "hold" rating and a $73.00 price objective on the stock. Bank of America reiterated an "underperform" rating and issued a $73.00 price objective on shares of Southwest Gas in a research report on Friday, December 13th. LADENBURG THALM/SH SH upgraded shares of Southwest Gas to a "strong-buy" rating in a report on Monday, March 17th. Finally, 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 report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $74.00.

Southwest Gas Stock Down 5.4 %

Southwest Gas stock traded down $3.88 during midday trading on Friday, reaching $68.37. The stock had a trading volume of 286,353 shares, compared to its average volume of 354,901. The stock has a market capitalization of $4.91 billion, a P/E ratio of 27.47, a price-to-earnings-growth ratio of 3.16 and a beta of 0.50. The firm's fifty day simple moving average is $74.91 and its 200-day simple moving average is $74.09. 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 Holdings, Inc. has a 1-year low of $64.31 and a 1-year high of $80.29.

Southwest Gas (NYSE:SWX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.39 earnings per share (EPS) 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 the consensus estimate of $1.35 billion. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. As a group, analysts expect that Southwest Gas Holdings, Inc. will post 3.03 EPS for the current fiscal year.

Southwest Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Thursday, May 15th. Southwest Gas's payout ratio is 90.18%.

About Southwest Gas

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.