Dynamic Technology Lab Private Ltd Cuts Stock Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

Dynamic Technology Lab Private Ltd decreased its holdings in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 43.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,266 shares of the utilities provider's stock after selling 12,409 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Southwest Gas were worth $1,200,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Citigroup Inc. boosted its holdings in Southwest Gas by 234.1% in the third quarter. Citigroup Inc. now owns 53,403 shares of the utilities provider's stock worth $3,939,000 after acquiring an additional 37,418 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Southwest Gas by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 977,810 shares of the utilities provider's stock worth $72,123,000 after purchasing an additional 35,106 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Southwest Gas by 0.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 654,930 shares of the utilities provider's stock worth $48,308,000 after purchasing an additional 6,059 shares during the last quarter. Intech Investment Management LLC increased its stake in Southwest Gas by 112.4% during the 3rd quarter. Intech Investment Management LLC now owns 10,849 shares of the utilities provider's stock valued at $800,000 after purchasing an additional 5,740 shares in the last quarter. Finally, Pathstone Holdings LLC increased its stake in Southwest Gas by 0.6% during 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 in the last quarter. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Southwest Gas news, major shareholder Carl C. Icahn sold 1,390,000 shares of Southwest Gas stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $76.74, for a total value of $106,668,600.00. Following the completion of the transaction, the insider now owns 9,632,604 shares of the company's stock, valued at approximately $739,206,030.96. The trade was a 12.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.39% of the company's stock.

Southwest Gas Stock Down 1.4 %

SWX stock opened at $78.06 on Wednesday. The company has a market capitalization of $5.60 billion, a P/E ratio of 31.48, a price-to-earnings-growth ratio of 4.18 and a beta of 0.38. Southwest Gas Holdings, Inc. has a 12 month low of $57.55 and a 12 month high of $80.29. The firm's fifty day simple moving average is $74.66 and its 200-day simple moving average is $73.68. 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 posted its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.12 billion. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. The firm's revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 earnings per share. As a group, equities research analysts forecast that Southwest Gas Holdings, Inc. will post 3.16 earnings per share for the current year.

Southwest Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Tuesday, February 18th. Southwest Gas's payout ratio is presently 100.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wells Fargo & Company lifted their price objective on shares of Southwest Gas from $74.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. lowered their price target on Southwest Gas from $78.00 to $70.00 and set a "neutral" rating for the company in a research report on Thursday, August 15th.

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.