LPL Financial LLC Grows Stock Holdings in Southwest Gas Holdings, Inc. (NYSE:SWX)

LPL Financial LLC lifted its position in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 7.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,319 shares of the utilities provider’s stock after buying an additional 871 shares during the quarter. LPL Financial LLC’s holdings in Southwest Gas were worth $784,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Inspire Investing LLC lifted its stake in Southwest Gas by 11.5% in the 2nd quarter. Inspire Investing LLC now owns 22,541 shares of the utilities provider’s stock worth $1,435,000 after purchasing an additional 2,333 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Southwest Gas by 43.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,644 shares of the utilities provider’s stock worth $487,000 after purchasing an additional 2,325 shares in the last quarter. EA Series Trust purchased a new stake in Southwest Gas in the 2nd quarter worth $2,404,000. Oregon Public Employees Retirement Fund lifted its stake in Southwest Gas by 1.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,914 shares of the utilities provider’s stock worth $1,204,000 after purchasing an additional 317 shares in the last quarter. Finally, Ballentine Partners LLC purchased a new stake in Southwest Gas in the 2nd quarter worth $251,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on SWX. StockNews.com upgraded shares of Southwest Gas from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. Citigroup reduced their target price on shares of Southwest Gas from $70.00 to $61.00 and set a “neutral” rating on the stock in a report on Tuesday, October 10th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $71.80.

Insiders Place Their Bets

In other Southwest Gas news, major shareholder Carl C. Icahn purchased 21,807 shares of the stock in a transaction dated Friday, September 8th. The stock was purchased at an average price of $60.67 per share, with a total value of $1,323,030.69. Following the transaction, the insider now owns 10,866,488 shares of the company’s stock, valued at $659,269,826.96. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Southwest Gas news, major shareholder Carl C. Icahn purchased 21,807 shares of the stock in a transaction dated Friday, September 8th. The stock was purchased at an average price of $60.67 per share, with a total value of $1,323,030.69. Following the transaction, the insider now owns 10,866,488 shares of the company’s stock, valued at $659,269,826.96. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Carl C. Icahn bought 27,466 shares of the stock in a transaction on Thursday, September 21st. The stock was purchased at an average price of $62.00 per share, with a total value of $1,702,892.00. Following the completion of the purchase, the insider now owns 10,999,878 shares of the company’s stock, valued at $681,992,436. The disclosure for this purchase can be found here. Insiders have purchased 112,975 shares of company stock worth $6,943,362 in the last three months. Corporate insiders own 0.32% of the company’s stock.

Southwest Gas Price Performance

Shares of SWX stock opened at $59.66 on Tuesday. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $4.27 billion, a P/E ratio of -19.43, a P/E/G ratio of 3.44 and a beta of 0.31. The company’s 50-day simple moving average is $59.77 and its two-hundred day simple moving average is $61.40. Southwest Gas Holdings, Inc. has a one year low of $53.79 and a one year high of $73.40.

Southwest Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Thursday, February 15th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $2.48 dividend on an annualized basis and a yield of 4.16%. Southwest Gas’s dividend payout ratio is currently -80.78%.

Southwest Gas Profile

Southwest Gas Holdings, Inc, through its subsidiaries, distributes and transports natural gas in Arizona, Nevada, and California. It operates through Natural Gas Distribution, Utility Infrastructure Services, and Pipeline and Storage segments. The company also provides trenching, installation, and replacement of underground pipes, as well as maintenance services for energy distribution systems.