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Arizona State Retirement System Increases Stock Holdings in Southwest Gas Holdings, Inc. (NYSE:SWX)

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Arizona State Retirement System lifted its stake in shares of Southwest Gas Holdings, Inc. (NYSE:SWXGet Rating) by 2.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 16,323 shares of the utilities provider’s stock after buying an additional 418 shares during the period. Arizona State Retirement System’s holdings in Southwest Gas were worth $1,278,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SWX. State of Michigan Retirement System boosted its position in shares of Southwest Gas by 3.4% during the fourth quarter. State of Michigan Retirement System now owns 15,345 shares of the utilities provider’s stock valued at $1,075,000 after buying an additional 500 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Southwest Gas in the fourth quarter worth $114,000. State of New Jersey Common Pension Fund D boosted its position in Southwest Gas by 9.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 40,158 shares of the utilities provider’s stock worth $2,813,000 after purchasing an additional 3,515 shares during the last quarter. Yousif Capital Management LLC purchased a new position in Southwest Gas in the fourth quarter worth $2,285,000. Finally, D.A. Davidson & CO. boosted its position in Southwest Gas by 25.7% in the fourth quarter. D.A. Davidson & CO. now owns 21,126 shares of the utilities provider’s stock worth $1,480,000 after purchasing an additional 4,317 shares during the last quarter. Hedge funds and other institutional investors own 85.29% of the company’s stock.

Insider Activity at Southwest Gas

In other Southwest Gas news, SVP Eric Debonis sold 3,500 shares of the company’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $92.02, for a total value of $322,070.00. Following the transaction, the senior vice president now directly owns 9,264 shares in the company, valued at approximately $852,473.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Lori L. Colvin sold 675 shares of the company’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $92.74, for a total value of $62,599.50. Following the completion of the transaction, the chief accounting officer now directly owns 3,188 shares in the company, valued at approximately $295,655.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Eric Debonis sold 3,500 shares of the company’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $92.02, for a total value of $322,070.00. Following the completion of the transaction, the senior vice president now owns 9,264 shares of the company’s stock, valued at $852,473.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,578 shares of company stock worth $794,112. 0.79% of the stock is owned by company insiders.

Southwest Gas Stock Performance

NYSE:SWX opened at $88.03 on Tuesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.78 and a current ratio of 0.78. Southwest Gas Holdings, Inc. has a 52-week low of $62.58 and a 52-week high of $95.62. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 3.89 and a beta of 0.13. The business’s fifty day moving average is $88.16 and its 200 day moving average is $80.85.

Southwest Gas (NYSE:SWXGet Rating) last released its quarterly earnings data on Monday, May 9th. The utilities provider reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.28). Southwest Gas had a net margin of 4.42% and a return on equity of 7.62%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.06 billion. Research analysts predict that Southwest Gas Holdings, Inc. will post 4.47 EPS for the current year.

Southwest Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 15th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, August 12th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.82%. Southwest Gas’s payout ratio is 83.50%.

Analysts Set New Price Targets

SWX has been the topic of several research analyst reports. TheStreet raised Southwest Gas from a “c+” rating to a “b-” rating in a research report on Monday, April 4th. Argus raised Southwest Gas from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Thursday, June 9th. StockNews.com raised Southwest Gas from a “sell” rating to a “hold” rating in a research report on Monday, May 23rd. Finally, Wells Fargo & Company upped their price target on Southwest Gas from $84.00 to $101.00 in a research report on Tuesday, May 10th.

Southwest Gas Company Profile

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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.

Further Reading

Want to see what other hedge funds are holding SWX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southwest Gas Holdings, Inc. (NYSE:SWXGet Rating).

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