98,232 Shares in Southwest Gas Holdings, Inc. (NYSE:SWX) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 98,232 shares of the utilities provider’s stock, valued at approximately $6,946,000.

Several other large investors have also made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its position in Southwest Gas by 599.0% during the third quarter. Public Employees Retirement System of Ohio now owns 9,877 shares of the utilities provider’s stock valued at $729,000 after buying an additional 8,464 shares in the last quarter. Citigroup Inc. increased its holdings in Southwest Gas by 234.1% in the third quarter. Citigroup Inc. now owns 53,403 shares of the utilities provider’s stock valued at $3,939,000 after buying an additional 37,418 shares during the last quarter. Hennessy Advisors Inc. lifted its holdings in Southwest Gas by 31.1% during the 4th quarter. Hennessy Advisors Inc. now owns 110,817 shares of the utilities provider’s stock worth $7,836,000 after buying an additional 26,300 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Southwest Gas in the 4th quarter worth approximately $1,000,000. Finally, O Keefe Stevens Advisory Inc. raised its position in shares of Southwest Gas by 45.0% during the 4th quarter. O Keefe Stevens Advisory Inc. now owns 11,775 shares of the utilities provider’s stock valued at $833,000 after acquiring an additional 3,654 shares in the last quarter. 92.77% of the stock is owned by hedge funds and other institutional investors.

Southwest Gas Trading Down 1.1 %

Shares of NYSE:SWX opened at $75.18 on Monday. 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 company’s 50-day moving average price is $74.66 and its 200 day moving average price is $73.97. The company has a market cap of $5.40 billion, a PE ratio of 30.32, a P/E/G ratio of 3.16 and a beta of 0.37. Southwest Gas Holdings, Inc. has a fifty-two week low of $64.31 and a fifty-two week high of $80.29.

Southwest Gas (NYSE:SWX) last released its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $1.39 earnings per share 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 company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Sell-side analysts anticipate that Southwest Gas Holdings, Inc. will post 3.03 earnings per share for the current year.

Southwest Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be paid a $0.62 dividend. The ex-dividend date is Thursday, May 15th. This represents a $2.48 annualized dividend and a dividend yield of 3.30%. Southwest Gas’s payout ratio is 90.18%.

Wall Street Analysts Forecast Growth

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

Southwest Gas 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.