Insider Selling: Southwest Gas Holdings, Inc. (NYSE:SWX) Major Shareholder Sells 1,390,000 Shares of Stock

Southwest Gas Holdings, Inc. (NYSE:SWX) major shareholder Carl C. Icahn sold 1,390,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $76.74, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Southwest Gas Stock Down 3.6 %

NYSE:SWX opened at $76.30 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21. The company’s 50 day moving average is $74.28 and its two-hundred day moving average is $73.66. Southwest Gas Holdings, Inc. has a twelve month low of $57.55 and a twelve month high of $79.20. The company has a market cap of $5.47 billion, a PE ratio of 30.77, a P/E/G ratio of 4.21 and a beta of 0.38.

Southwest Gas (NYSE:SWX) last issued 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. The firm 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%. The firm’s revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 earnings per share. Analysts anticipate that Southwest Gas Holdings, Inc. will post 3.13 EPS for the current year.

Southwest Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.25%. Southwest Gas’s dividend payout ratio is currently 100.00%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

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

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.