Sasco Capital Inc. CT Has $28.06 Million Stock Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

Sasco Capital Inc. CT trimmed its position in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 14.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 380,440 shares of the utilities provider's stock after selling 62,950 shares during the period. Southwest Gas accounts for 4.2% of Sasco Capital Inc. CT's investment portfolio, making the stock its 3rd biggest position. Sasco Capital Inc. CT owned about 0.53% of Southwest Gas worth $28,061,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Pathstone Holdings LLC raised its position in Southwest Gas by 0.6% during the third 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 in the last quarter. Natixis Advisors LLC lifted its position in Southwest Gas by 3.2% in the 3rd quarter. Natixis Advisors LLC now owns 11,644 shares of the utilities provider's stock worth $859,000 after buying an additional 365 shares during the last quarter. KBC Group NV boosted its stake in Southwest Gas by 25.4% in the third quarter. KBC Group NV now owns 1,839 shares of the utilities provider's stock worth $136,000 after buying an additional 373 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in Southwest Gas by 8.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 27,243 shares of the utilities provider's stock valued at $2,009,000 after acquiring an additional 2,066 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its stake in shares of Southwest Gas by 17.5% during the third quarter. Crossmark Global Holdings Inc. now owns 4,569 shares of the utilities provider's stock worth $337,000 after acquiring an additional 681 shares in the last quarter. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

Southwest Gas Trading Up 2.2 %

Shares of NYSE SWX traded up $1.68 during trading hours on Tuesday, hitting $79.11. The company's stock had a trading volume of 307,267 shares, compared to its average volume of 376,114. The business has a 50-day simple moving average of $73.98 and a 200-day simple moving average of $73.61. The stock has a market cap of $5.68 billion, a price-to-earnings ratio of 31.24, a P/E/G ratio of 4.07 and a beta of 0.38. 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 12 month low of $57.55 and a 12 month high of $79.20.

Southwest Gas (NYSE:SWX - Get Free Report) last posted its earnings results on Wednesday, November 6th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The firm had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the previous year, the firm earned $0.10 earnings per share. The business's revenue was down 7.7% compared to the same quarter last year. On average, analysts anticipate that Southwest Gas Holdings, Inc. will post 3.13 earnings per share for the current fiscal year.

Southwest Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a $0.62 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.48 annualized dividend and a yield of 3.13%. Southwest Gas's dividend payout ratio (DPR) is presently 100.00%.

Analyst Ratings Changes

SWX has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on Southwest Gas from $78.00 to $70.00 and set a "neutral" rating for the company in a research note on Thursday, August 15th. Wells Fargo & Company boosted their price objective on Southwest Gas from $74.00 to $78.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 25th.

Insider Activity

In other news, CFO Robert J. Stefani sold 767 shares of the firm's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 43,438 shares in the company, valued at $3,177,055.32. This trade represents a 1.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.39% of the company's stock.

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.