Corebridge Financial Inc. Has $6.93 Million Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

Corebridge Financial Inc. trimmed its stake in shares of Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 98,058 shares of the utilities provider's stock after selling 5,256 shares during the quarter. Corebridge Financial Inc. owned about 0.14% of Southwest Gas worth $6,934,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Arizona State Retirement System increased its position in Southwest Gas by 0.8% in the fourth quarter. Arizona State Retirement System now owns 16,650 shares of the utilities provider's stock worth $1,177,000 after buying an additional 140 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Southwest Gas by 1.7% in the 4th quarter. Pacer Advisors Inc. now owns 8,979 shares of the utilities provider's stock worth $635,000 after acquiring an additional 147 shares during the period. Blue Trust Inc. lifted its position in Southwest Gas by 18.8% in the 4th quarter. Blue Trust Inc. now owns 937 shares of the utilities provider's stock valued at $69,000 after purchasing an additional 148 shares during the last quarter. D.A. Davidson & CO. boosted its stake in Southwest Gas by 1.1% during the 4th quarter. D.A. Davidson & CO. now owns 15,766 shares of the utilities provider's stock valued at $1,115,000 after purchasing an additional 175 shares during the period. Finally, Clear Creek Financial Management LLC grew its position in Southwest Gas by 5.4% in the 4th 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 during the last quarter. Institutional investors own 92.77% of the company's stock.

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Analyst Upgrades and Downgrades

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

Southwest Gas Price Performance

Shares of SWX traded up $0.45 during midday trading on Wednesday, reaching $72.37. The stock had a trading volume of 74,512 shares, compared to its average volume of 389,350. The firm's 50 day moving average price is $74.87 and its 200-day moving average price is $74.11. Southwest Gas Holdings, Inc. has a 52 week low of $64.31 and a 52 week high of $80.29. The company has a market capitalization of $5.20 billion, a P/E ratio of 29.18, a P/E/G ratio of 3.16 and a beta of 0.37. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85.

Southwest Gas (NYSE:SWX - Get Free Report) last issued its quarterly earnings results 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 during 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%. On average, analysts forecast that Southwest Gas Holdings, Inc. will post 3.03 earnings per share for the current fiscal year.

Southwest Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Thursday, May 15th. Southwest Gas's payout ratio is 90.18%.

Insider Buying and Selling at Southwest Gas

In related news, major shareholder Carl C. Icahn sold 2,100,000 shares of Southwest Gas stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $74.60, for a total value of $156,660,000.00. Following the transaction, the insider now 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.39% of the stock is owned by corporate insiders.

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.