Principal Financial Group Inc. Has $76.35 Million Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

Principal Financial Group Inc. cut its holdings in Southwest Gas Holdings, Inc. (NYSE:SWX) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,079,717 shares of the utilities provider’s stock after selling 66,757 shares during the quarter. Principal Financial Group Inc. owned approximately 1.51% of Southwest Gas worth $76,347,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Waldron Private Wealth LLC bought a new position in Southwest Gas in the 3rd quarter worth approximately $40,000. UMB Bank n.a. raised its position in shares of Southwest Gas by 48.2% during the fourth quarter. UMB Bank n.a. now owns 590 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 192 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Southwest Gas by 37.5% during the third quarter. Blue Trust Inc. now owns 789 shares of the utilities provider’s stock valued at $56,000 after acquiring an additional 215 shares during the period. ST Germain D J Co. Inc. boosted its holdings in Southwest Gas by 206.2% in the fourth quarter. ST Germain D J Co. Inc. now owns 845 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 569 shares during the last quarter. Finally, KBC Group NV increased its position in Southwest Gas by 25.4% in the third quarter. KBC Group NV now owns 1,839 shares of the utilities provider’s stock worth $136,000 after purchasing an additional 373 shares during the period. 92.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SWX. Bank of America reaffirmed an “underperform” rating and issued a $73.00 price objective on shares of Southwest Gas in a research note on Friday, December 13th. JPMorgan Chase & Co. cut their price target on Southwest Gas from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. LADENBURG THALM/SH SH raised Southwest Gas to a “strong-buy” rating in a research note on Friday, January 24th. Finally, Jefferies Financial Group assumed 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Southwest Gas has an average rating of “Hold” and an average price target of $73.80.

Southwest Gas Trading Down 0.6 %

Shares of NYSE SWX opened at $77.50 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21. Southwest Gas Holdings, Inc. has a twelve month low of $59.40 and a twelve month high of $80.29. The company’s fifty day moving average is $72.75 and its 200-day moving average is $73.44. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 31.25, a P/E/G ratio of 3.18 and a beta of 0.44.

Southwest Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.20%. Southwest Gas’s payout ratio is 100.00%.

Southwest Gas Company 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.