Maryland State Retirement & Pension System Sells 1,118 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

Maryland State Retirement & Pension System decreased its position in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,711 shares of the utilities provider’s stock after selling 1,118 shares during the period. Maryland State Retirement & Pension System owned approximately 0.07% of Southwest Gas worth $3,515,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Public Employees Retirement System of Ohio grew its holdings in Southwest Gas by 599.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 9,877 shares of the utilities provider’s stock valued at $729,000 after purchasing an additional 8,464 shares during the last quarter. Citigroup Inc. grew its stake in shares of Southwest Gas by 234.1% during the third quarter. Citigroup Inc. now owns 53,403 shares of the utilities provider’s stock valued at $3,939,000 after buying an additional 37,418 shares during the last quarter. Hennessy Advisors Inc. raised its holdings in shares of Southwest Gas by 31.1% in the fourth quarter. Hennessy Advisors Inc. now owns 110,817 shares of the utilities provider’s stock worth $7,836,000 after buying an additional 26,300 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Southwest Gas during the 4th quarter worth approximately $1,000,000. Finally, O Keefe Stevens Advisory Inc. boosted its holdings in Southwest Gas by 45.0% during the 4th quarter. O Keefe Stevens Advisory Inc. now owns 11,775 shares of the utilities provider’s stock valued at $833,000 after acquiring an additional 3,654 shares during the period. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Southwest Gas Price Performance

Shares of SWX opened at $76.34 on Thursday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.85 and a current ratio of 0.85. The company has a 50 day moving average price of $74.41 and a 200-day moving average price of $73.90. Southwest Gas Holdings, Inc. has a fifty-two week low of $64.31 and a fifty-two week high of $80.29. The stock has a market capitalization of $5.48 billion, a PE ratio of 30.78, a PEG ratio of 3.16 and a beta of 0.37.

Southwest Gas (NYSE:SWX) last announced its earnings results on Wednesday, February 26th. The utilities provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.18. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. Equities analysts predict that Southwest Gas Holdings, Inc. will post 3.03 earnings per share for the current fiscal year.

Southwest Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Thursday, May 15th. Southwest Gas’s payout ratio is 90.18%.

Analyst Ratings Changes

A number of analysts have weighed in on SWX shares. Jefferies Financial Group started coverage on Southwest Gas in a research note on Tuesday, January 14th. They issued a “hold” rating and a $73.00 target price on the stock. LADENBURG THALM/SH SH raised shares of Southwest Gas to a “strong-buy” rating in a research note on Monday. Bank of America reissued an “underperform” rating and issued a $73.00 price objective on shares of Southwest Gas in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Southwest Gas from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $74.00.

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.