Optas LLC Lowers Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

Optas LLC cut its holdings in Southwest Gas Holdings, Inc. (NYSE:SWX) by 13.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,767 shares of the utilities provider’s stock after selling 733 shares during the quarter. Optas LLC’s holdings in Southwest Gas were worth $363,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its position in shares of Southwest Gas by 461.9% during the fourth quarter. Jones Financial Companies Lllp now owns 1,371 shares of the utilities provider’s stock valued at $87,000 after buying an additional 1,127 shares during the last quarter. Central Valley Advisors LLC purchased a new stake in shares of Southwest Gas during the first quarter valued at about $204,000. Allworth Financial LP lifted its position in shares of Southwest Gas by 520.4% during the fourth quarter. Allworth Financial LP now owns 3,071 shares of the utilities provider’s stock valued at $195,000 after buying an additional 2,576 shares during the last quarter. Assetmark Inc. lifted its position in shares of Southwest Gas by 22.6% during the fourth quarter. Assetmark Inc. now owns 3,152 shares of the utilities provider’s stock valued at $200,000 after buying an additional 581 shares during the last quarter. Finally, BTC Capital Management Inc. purchased a new stake in shares of Southwest Gas during the first quarter valued at about $254,000. 92.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Justin L. Brown sold 2,625 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $76.50, for a total transaction of $200,812.50. Following the transaction, the insider now owns 23,830 shares in the company, valued at $1,822,995. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Southwest Gas Stock Down 2.8 %

Shares of SWX traded down $2.02 during mid-day trading on Friday, hitting $70.38. 1,392,639 shares of the company traded hands, compared to its average volume of 281,625. Southwest Gas Holdings, Inc. has a 1-year low of $56.17 and a 1-year high of $78.46. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $5.04 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 3.48 and a beta of 0.39. The business has a 50 day moving average of $75.11 and a 200 day moving average of $69.36.

Southwest Gas (NYSE:SWX) last posted its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.33). Southwest Gas had a net margin of 3.56% and a return on equity of 6.71%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the company earned $1.69 EPS. The business’s revenue was down 1.4% compared to the same quarter last year. Equities research analysts anticipate that Southwest Gas Holdings, Inc. will post 3.37 EPS for the current year.

Southwest Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.62 per share. The ex-dividend date is Thursday, August 15th. This represents a $2.48 annualized dividend and a dividend yield of 3.52%. Southwest Gas’s dividend payout ratio (DPR) is currently 92.88%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company initiated coverage on shares of Southwest Gas in a research report on Monday, May 13th. They set an “equal weight” rating and a $77.00 price target for the company.

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.