Maryland State Retirement & Pension System Raises Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

Maryland State Retirement & Pension System grew its holdings in Southwest Gas Holdings, Inc. (NYSE:SWX) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 50,551 shares of the utilities provider’s stock after acquiring an additional 731 shares during the quarter. Maryland State Retirement & Pension System owned 0.07% of Southwest Gas worth $3,202,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Southwest Gas by 2.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 10,585 shares of the utilities provider’s stock valued at $639,000 after purchasing an additional 300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Southwest Gas by 8.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,839 shares of the utilities provider’s stock worth $776,000 after buying an additional 1,008 shares during the last quarter. Advisor Partners II LLC acquired a new stake in Southwest Gas during the 3rd quarter valued at approximately $685,000. Inspire Investing LLC boosted its holdings in shares of Southwest Gas by 13.5% in the 3rd quarter. Inspire Investing LLC now owns 25,586 shares of the utilities provider’s stock valued at $1,546,000 after acquiring an additional 3,045 shares during the last quarter. Finally, Cable Hill Partners LLC acquired a new stake in shares of Southwest Gas in the third quarter worth $230,000. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Analyst Ratings Changes

Separately, Citigroup boosted their target price on shares of Southwest Gas from $64.00 to $73.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th.

Southwest Gas Stock Performance

Southwest Gas stock traded up $0.53 during midday trading on Tuesday, hitting $76.29. 334,326 shares of the company were exchanged, compared to its average volume of 458,238. Southwest Gas Holdings, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $76.75. The firm has a market capitalization of $5.46 billion, a PE ratio of 35.74, a price-to-earnings-growth ratio of 3.63 and a beta of 0.36. The business has a fifty day simple moving average of $73.13 and a two-hundred day simple moving average of $65.08. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.12 and a current ratio of 1.12.

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

Southwest Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be paid a $0.62 dividend. The ex-dividend date is Thursday, August 15th. This represents a $2.48 annualized dividend and a dividend yield of 3.25%. Southwest Gas’s dividend payout ratio is presently 116.98%.

Southwest Gas 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.