Southwest Gas Holdings, Inc. (NYSE:SWX) is Sasco Capital Inc. CT’s 3rd Largest Position

Sasco Capital Inc. CT lessened its position in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 14.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 380,440 shares of the utilities provider’s stock after selling 62,950 shares during the period. Southwest Gas accounts for 4.2% of Sasco Capital Inc. CT’s investment portfolio, making the stock its 3rd largest position. Sasco Capital Inc. CT owned about 0.53% of Southwest Gas worth $28,061,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its stake in shares of Southwest Gas by 67.2% in the third quarter. UMB Bank n.a. now owns 398 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 160 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Southwest Gas by 154.8% during the 2nd quarter. GAMMA Investing LLC now owns 428 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 260 shares during the period. Waldron Private Wealth LLC bought a new position in Southwest Gas in the 3rd quarter worth about $40,000. Blue Trust Inc. increased its position in shares of Southwest Gas by 96.6% during the second quarter. Blue Trust Inc. now owns 574 shares of the utilities provider’s stock valued at $44,000 after buying an additional 282 shares during the period. Finally, International Assets Investment Management LLC bought a new position in shares of Southwest Gas in the second quarter valued at approximately $49,000. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Insiders Place Their Bets

In other Southwest Gas news, CFO Robert J. Stefani sold 767 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $73.14, for a total transaction of $56,098.38. Following the completion of the sale, the chief financial officer now directly owns 43,438 shares in the company, valued at $3,177,055.32. This represents a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.39% of the stock is owned by insiders.

Southwest Gas Price Performance

SWX stock opened at $77.47 on Tuesday. The firm has a 50 day simple moving average of $73.98 and a two-hundred day simple moving average of $73.61. The stock has a market cap of $5.56 billion, a PE ratio of 31.24, a P/E/G ratio of 4.07 and a beta of 0.38. Southwest Gas Holdings, Inc. has a one year low of $57.55 and a one year high of $79.03. 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) last announced its earnings results on Wednesday, November 6th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the business earned $0.10 earnings per share. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, analysts predict that Southwest Gas Holdings, Inc. will post 3.13 EPS for the current fiscal year.

Southwest Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.48 dividend on an annualized basis and a yield of 3.20%. Southwest Gas’s payout ratio is 100.00%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SWX. JPMorgan Chase & Co. lowered their target price on shares of Southwest Gas from $78.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Wells Fargo & Company lifted their price objective on Southwest Gas from $74.00 to $78.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th.

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.