Wells Fargo & Company MN Has $5.57 Million Holdings in Southwest Gas Holdings, Inc. (NYSE:SWX)

Wells Fargo & Company MN reduced its stake in shares of Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 15.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,777 shares of the utilities provider's stock after selling 13,913 shares during the period. Wells Fargo & Company MN owned 0.11% of Southwest Gas worth $5,570,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Arizona State Retirement System increased its stake 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 valued at $1,177,000 after purchasing an additional 140 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Southwest Gas by 1.7% in the fourth quarter. Pacer Advisors Inc. now owns 8,979 shares of the utilities provider's stock valued at $635,000 after buying an additional 147 shares in the last quarter. Blue Trust Inc. lifted its position in Southwest Gas by 18.8% during the 4th quarter. Blue Trust Inc. now owns 937 shares of the utilities provider's stock worth $69,000 after acquiring an additional 148 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of Southwest Gas by 1.1% during the fourth quarter. D.A. Davidson & CO. now owns 15,766 shares of the utilities provider's stock worth $1,115,000 after purchasing an additional 175 shares in the last quarter. Finally, Clear Creek Financial Management LLC boosted its stake in shares of Southwest Gas by 5.4% in the fourth quarter. Clear Creek Financial Management LLC now owns 3,427 shares of the utilities provider's stock valued at $242,000 after purchasing an additional 176 shares during the period. Hedge funds and other institutional investors own 92.77% of the company's stock.

Insider Transactions at Southwest Gas

In related news, major shareholder Carl C. Icahn sold 2,100,000 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $74.60, for a total transaction of $156,660,000.00. Following the completion of the transaction, the insider now owns 7,532,604 shares of the company's stock, valued at $561,932,258.40. This trade represents a 21.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.39% of the company's stock.

Southwest Gas Stock Performance

Shares of NYSE:SWX traded up $0.10 during trading on Thursday, hitting $72.69. 27,896 shares of the company traded hands, compared to its average volume of 350,577. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 3.16 and a beta of 0.50. Southwest Gas Holdings, Inc. has a one year low of $64.31 and a one year high of $80.29. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21. The business's fifty day moving average is $73.36 and its 200-day moving average is $73.76.

Southwest Gas (NYSE:SWX - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.18. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. The business had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.35 billion. As a group, equities analysts predict 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 declared 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 of this dividend is Thursday, May 15th. This represents a $2.48 dividend on an annualized basis and a yield of 3.41%. Southwest Gas's dividend payout ratio (DPR) is presently 90.18%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Jefferies Financial Group initiated coverage on Southwest Gas in a research note on Tuesday, January 14th. They issued a "hold" rating and a $73.00 price target on the stock. LADENBURG THALM/SH SH upgraded Southwest Gas to a "strong-buy" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. cut their price target on shares of Southwest Gas from $76.00 to $72.00 and set a "neutral" rating on the stock in a report on Tuesday, January 28th. One equities research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target 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.