Glenmede Trust Co. NA Has $1.26 Million Stock Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

Glenmede Trust Co. NA lifted its position in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 17.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,021 shares of the utilities provider’s stock after purchasing an additional 2,572 shares during the quarter. Glenmede Trust Co. NA’s holdings in Southwest Gas were worth $1,255,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Victory Capital Management Inc. lifted its position in Southwest Gas by 41.9% in the second quarter. Victory Capital Management Inc. now owns 206,114 shares of the utilities provider’s stock worth $14,506,000 after purchasing an additional 60,856 shares during the period. Summit Global Investments acquired a new position in shares of Southwest Gas in the 3rd quarter valued at $1,349,000. New York State Common Retirement Fund lifted its holdings in shares of Southwest Gas by 3.0% during the 3rd quarter. New York State Common Retirement Fund now owns 267,589 shares of the utilities provider’s stock worth $19,737,000 after acquiring an additional 7,858 shares during the period. Moody Aldrich Partners LLC boosted its position in shares of Southwest Gas by 14.7% during the 3rd quarter. Moody Aldrich Partners LLC now owns 134,573 shares of the utilities provider’s stock valued at $9,926,000 after acquiring an additional 17,227 shares in the last quarter. Finally, Choreo LLC bought a new stake in Southwest Gas in the second quarter valued at about $503,000. 92.77% of the stock is currently owned by institutional investors.

Insider Transactions at Southwest Gas

In other news, major shareholder Carl C. Icahn sold 1,390,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $76.74, for a total transaction of $106,668,600.00. Following the sale, the insider now directly owns 9,632,604 shares of the company’s stock, valued at $739,206,030.96. This represents a 12.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.39% of the company’s stock.

Southwest Gas Trading Down 0.2 %

Shares of Southwest Gas stock opened at $78.16 on Monday. Southwest Gas Holdings, Inc. has a 12-month low of $57.55 and a 12-month high of $80.29. The stock has a market capitalization of $5.61 billion, a P/E ratio of 31.52, a price-to-earnings-growth ratio of 4.13 and a beta of 0.38. The company has a 50-day simple moving average of $75.01 and a 200 day simple moving average of $73.77. 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 (NYSE:SWX) last posted its earnings results on Wednesday, November 6th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. Southwest Gas’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 earnings per share. Research analysts expect that Southwest Gas Holdings, Inc. will post 3.16 earnings per share for the current fiscal year.

Southwest Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Tuesday, February 18th. Southwest Gas’s dividend payout ratio is currently 100.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SWX. Wells Fargo & Company raised their price target on shares of Southwest Gas from $74.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. cut their target price on Southwest Gas from $78.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th.

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.