American International Group Inc. Has $8.36 Million Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

American International Group Inc. trimmed its position in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 1.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,816 shares of the utilities provider’s stock after selling 1,571 shares during the quarter. American International Group Inc. owned approximately 0.15% of Southwest Gas worth $8,360,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Southwest Gas during the 4th quarter worth approximately $36,054,000. International Assets Investment Management LLC increased its holdings in Southwest Gas by 9,907.0% in the fourth quarter. International Assets Investment Management LLC now owns 54,038 shares of the utilities provider’s stock valued at $3,423,000 after purchasing an additional 53,498 shares during the period. Knights of Columbus Asset Advisors LLC raised its position in Southwest Gas by 94.6% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 75,923 shares of the utilities provider’s stock worth $4,810,000 after purchasing an additional 36,900 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in Southwest Gas by 6.7% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 186,570 shares of the utilities provider’s stock worth $11,819,000 after buying an additional 11,780 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Southwest Gas by 4.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 856,249 shares of the utilities provider’s stock valued at $54,245,000 after buying an additional 34,995 shares during the last quarter. 92.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company assumed coverage on shares of Southwest Gas in a research note on Monday, May 13th. They issued an “equal weight” rating and a $77.00 price objective on the stock.

Insiders Place Their Bets

In related news, insider Justin L. Brown sold 2,625 shares of Southwest Gas stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $76.50, for a total value of $200,812.50. Following the sale, the insider now owns 23,830 shares of the company’s stock, valued at approximately $1,822,995. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.39% of the company’s stock.

Southwest Gas Stock Up 1.8 %

Southwest Gas stock traded up $1.30 during midday trading on Thursday, hitting $75.11. 94,549 shares of the stock were exchanged, compared to its average volume of 410,318. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 3.76 and a beta of 0.37. Southwest Gas Holdings, Inc. has a 52-week low of $56.17 and a 52-week high of $78.46. The business’s 50-day moving average price is $73.99 and its 200-day moving average price is $70.38.

Southwest Gas (NYSE:SWX) last issued its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.33). The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Southwest Gas had a net margin of 3.56% and a return on equity of 6.71%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.69 earnings per share. On average, research analysts expect that Southwest Gas Holdings, Inc. will post 3.36 EPS for the current fiscal year.

Southwest Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be issued a dividend of $0.62 per share. The ex-dividend date is Thursday, August 15th. This represents a $2.48 dividend on an annualized basis and a yield of 3.30%. Southwest Gas’s dividend payout ratio (DPR) is presently 92.88%.

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.