Maverick Capital Ltd. Purchases 275,992 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

Maverick Capital Ltd. increased its position in Southwest Gas Holdings, Inc. (NYSE:SWX) by 18.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,765,148 shares of the utilities provider’s stock after acquiring an additional 275,992 shares during the period. Southwest Gas comprises about 2.5% of Maverick Capital Ltd.’s investment portfolio, making the stock its 13th biggest holding. Maverick Capital Ltd.’s holdings in Southwest Gas were worth $130,197,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SWX. Bank of New York Mellon Corp raised its position in Southwest Gas by 6.9% in the second quarter. Bank of New York Mellon Corp now owns 1,053,094 shares of the utilities provider’s stock worth $74,117,000 after acquiring an additional 68,254 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Southwest Gas by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 985,566 shares of the utilities provider’s stock worth $69,370,000 after purchasing an additional 84,987 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in 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 worth $72,123,000 after purchasing an additional 35,106 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Southwest Gas by 0.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 654,930 shares of the utilities provider’s stock valued at $48,308,000 after purchasing an additional 6,059 shares in the last quarter. Finally, New York State Common Retirement Fund grew its holdings in Southwest Gas by 3.0% during the third quarter. New York State Common Retirement Fund now owns 267,589 shares of the utilities provider’s stock valued at $19,737,000 after purchasing an additional 7,858 shares during the period. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Wall Street Analysts Forecast Growth

SWX has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price objective on 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 raised their target price 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.

Southwest Gas Stock Performance

NYSE:SWX opened at $78.24 on Friday. The stock has a 50-day moving average price of $74.93 and a 200 day moving average price of $73.75. The stock has a market capitalization of $5.61 billion, a P/E ratio of 31.55, a P/E/G ratio of 4.13 and a beta of 0.38. Southwest Gas Holdings, Inc. has a 12-month low of $57.55 and a 12-month high of $80.29. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21.

Southwest Gas (NYSE:SWX) last announced its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.09 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 business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the company earned $0.10 EPS. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. Equities research analysts forecast that Southwest Gas Holdings, Inc. will post 3.16 EPS for the current fiscal year.

Southwest Gas Dividend Announcement

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

Insider Activity at Southwest Gas

In related news, major shareholder Carl C. Icahn sold 1,390,000 shares of Southwest Gas stock in a transaction dated 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 completion of the transaction, the insider now owns 9,632,604 shares in the company, valued at approximately $739,206,030.96. This trade represents a 12.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.39% of the stock is currently owned by insiders.

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.