Southwest Gas Holdings, Inc. (NYSE:SWX) Stock Holdings Lowered by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its holdings in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 98,058 shares of the utilities provider’s stock after selling 5,256 shares during the period. Corebridge Financial Inc.’s holdings in Southwest Gas were worth $6,934,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC boosted its stake in shares of Southwest Gas by 112.4% during the 3rd quarter. Intech Investment Management LLC now owns 10,849 shares of the utilities provider’s stock worth $800,000 after acquiring an additional 5,740 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of 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 valued at $72,123,000 after purchasing an additional 35,106 shares during the period. Citigroup Inc. increased its stake in Southwest Gas by 234.1% in the 3rd quarter. Citigroup Inc. now owns 53,403 shares of the utilities provider’s stock worth $3,939,000 after purchasing an additional 37,418 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Southwest Gas by 30.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 19,765 shares of the utilities provider’s stock worth $1,458,000 after buying an additional 4,611 shares during the period. Finally, Glenmede Trust Co. NA lifted its stake in Southwest Gas by 17.8% during the third quarter. Glenmede Trust Co. NA now owns 17,021 shares of the utilities provider’s stock valued at $1,255,000 after buying an additional 2,572 shares in the last quarter. Institutional investors and hedge funds own 92.77% of the company’s stock.

Southwest Gas Trading Up 1.1 %

Shares of NYSE:SWX opened at $72.87 on Friday. The firm has a fifty day moving average of $74.91 and a two-hundred day moving average of $74.04. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21. Southwest Gas Holdings, Inc. has a 12-month low of $64.31 and a 12-month high of $80.29. The firm has a market capitalization of $5.24 billion, a P/E ratio of 29.38, a price-to-earnings-growth ratio of 3.16 and a beta of 0.37.

Southwest Gas (NYSE:SWX) last released its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.35 billion. On average, equities analysts expect that Southwest Gas Holdings, Inc. will post 3.03 EPS for the current fiscal year.

Southwest Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.40%. The ex-dividend date is Thursday, May 15th. Southwest Gas’s payout ratio is presently 90.18%.

Insider Buying and Selling at Southwest Gas

In other Southwest Gas 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 transaction, the insider now directly owns 7,532,604 shares in the company, valued at $561,932,258.40. This trade represents a 21.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SWX shares. Jefferies Financial Group began coverage on shares of Southwest Gas in a report on Tuesday, January 14th. They set a “hold” rating and a $73.00 price target on the stock. Bank of America reissued an “underperform” rating and set a $73.00 target price on shares of Southwest Gas in a research note on Friday, December 13th. JPMorgan Chase & Co. decreased their target price on Southwest Gas from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Finally, LADENBURG THALM/SH SH upgraded Southwest Gas to a “strong-buy” rating in a report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $74.00.

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.