Southwest Gas Holdings, Inc. (NYSE:SWX) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in Southwest Gas Holdings, Inc. (NYSE:SWX) by 17.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 18,039 shares of the utilities provider’s stock after acquiring an additional 2,634 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Southwest Gas were worth $1,143,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SWX. Fifth Third Bancorp lifted its stake in shares of Southwest Gas by 56.1% in the 3rd quarter. Fifth Third Bancorp now owns 484 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 174 shares during the period. Assetmark Inc. lifted its stake in shares of Southwest Gas by 16.8% in the third quarter. Assetmark Inc. now owns 2,571 shares of the utilities provider’s stock valued at $155,000 after purchasing an additional 369 shares during the period. Allworth Financial LP lifted its stake in shares of Southwest Gas by 520.4% in the fourth quarter. Allworth Financial LP now owns 3,071 shares of the utilities provider’s stock valued at $195,000 after purchasing an additional 2,576 shares during the period. NBC Securities Inc. acquired a new stake in shares of Southwest Gas in the third quarter valued at about $219,000. Finally, Cable Hill Partners LLC acquired a new stake in shares of Southwest Gas in the third quarter valued at about $230,000. Institutional investors and hedge funds own 92.77% of the company’s stock.

Southwest Gas Stock Performance

NYSE:SWX opened at $74.59 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.39. The firm has a 50-day moving average price of $70.58 and a two-hundred day moving average price of $64.03. Southwest Gas Holdings, Inc. has a twelve month low of $53.79 and a twelve month high of $76.75. The company has a market capitalization of $5.34 billion, a P/E ratio of 35.18, a price-to-earnings-growth ratio of 3.55 and a beta of 0.36.

Southwest Gas (NYSE:SWX) last posted its earnings results on Wednesday, February 28th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.16. Southwest Gas had a net margin of 2.78% and a return on equity of 7.28%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.27 billion. As a group, research analysts expect that Southwest Gas Holdings, Inc. will post 3.45 earnings per share for the current fiscal year.

Southwest Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.48 annualized dividend and a yield of 3.32%. Southwest Gas’s dividend payout ratio (DPR) is currently 116.98%.

Wall Street Analyst Weigh In

SWX has been the subject of several recent analyst reports. Citigroup raised their price objective on shares of Southwest Gas from $64.00 to $73.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. StockNews.com upgraded shares of Southwest Gas from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th.

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.