Icahn Associates Holding LLC has recently announced that it has increased stake in Southwest Gas Holdings Inc. (NYSE:SWX) by 59.12%. After grabbing 10.52 million shares, the institutional investor is now in possession of 3.91 million shares of the Utilities Company. The new investment brought the stake of investor firm to 14.86% having worth around $589.15 million. Moreover, BlackRock Fund Advisors increased its share by 0.39 million to have a control over 9.06 million shares. And The Vanguard Group, Inc. raised its holdings to 0.42 million shares by acquiring 7.23 million shares or 10.21% of the stake.
Southwest Gas Holdings Inc. (SWX) concluded trading on 05/25/23 at a closing price of $57.20, with 1.01 million shares of worth about $57.88 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -17.91% during that period and on Thursday the price saw a loss of about -1.43%. Currently the company’s common shares owned by public are about 68.27M shares, out of which, 66.46M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 5 analysts are covering the SWX stock and their offered price forecasts bring an average price target of $69.75. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $87.00 and could fall to a lowest price of $62.00. The stock’s current price level is 16.8% above of average price target set by the analysts, while a rise to estimated low would result in gain of 7.74% for the stock. However, touching the estimated high of $87.00 would mean a gain of 34.25% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 173 times over the past 12 months. They bought 4,057,468 shares in 150 of the transactions. In 23 selling transactions, insiders dumped 22,331 shares.
Vanguard Total Stock Market ETF, iShares Core S&P Mid Cap ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Southwest Gas Holdings Inc. Vanguard Total Stock Market ETF is currently holding 2.07 million shares of worth totaling $116.13 million. The company recently came buying 831.0 shares which brought its stake up to 2.93% of the company’s outstanding shares. iShares Core S&P Mid Cap ETF bought 6599.0 shares, after which its hold over company’s outstanding shares expand to 2.87%, leaving 2.03 million shares with the mutual fund that have a worth of about $113.57 million. Vanguard Small Cap Index Fund, after selling 1.75 million shares, have now control over 2.47% of the stake in the company. It holds 426.0 shares of worth $98.04 million.
Southwest Gas Holdings Inc. (NYSE: SWX) started trading at $58.31, above $0.28 from concluding price of the previous day. However, the stock later moved at a day high price of 58.31, or with a loss of -1.43%. Stock saw a price change of 0.19% in past 5 days and over the past one month there was a price change of 4.00%. Year-to-date (YTD), SWX shares are showing a performance of -7.56% which decreased to -39.24% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $53.79 but also hit the highest price of $95.62 during that period. The average intraday trading volume for Southwest Gas Holdings Inc. shares is 648.59K. The stock is currently trading 1.50% above its 20-day simple moving average (SMA20), while that difference is down -2.12% for SMA50 and it goes to -14.34% lower than SMA200.
Icahn Associates Holding LLC acquired 10.52 million shares of Southwest Gas Holdings Inc. having value of about $589.15 million. Data submitted at the U.S SEC by Icahn Associates Holding LLC revealed that the firm now holds 3.91 million shares in the company valued at close to $223593084.0, or have control over 59.12% stake in the company. Southwest Gas Holdings Inc. (NYSE: SWX) currently have 68.27M outstanding shares and institutions hold larger chunk of about 90.00% of that. Holding of mutual funds in the company is about 46.45% while other institutional holders and individual stake holders have control over 46.92% and 17.14% of the stake respectively.
The stock has a current market capitalization of $4.06B and its 3Y-monthly beta is at 0.27. It has posted earnings per share of -$3.78 in the same period. It has Quick Ratio of 1.40 while making debt-to-equity ratio of 1.54. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SWX, volatility over the week remained 2.30% while standing at 2.37% over the month.
Analysts are in expectations that Southwest Gas Holdings Inc. (SWX) stock would likely to be making an EPS of $0.48 in the current quarter, while forecast for next quarter EPS is $0.11 and it is $3.3 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.39 which is $0.6 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.23 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -191.50% while it is estimated to decrease by -10.84% in next year. EPS is likely to grow at an annualized rate of 4.00% for next 5-years, compared to annual growth of -23.00% made by the stock over the past 5-years.
Analysts at 5 brokerage firms have issued recommendations for the Southwest Gas Holdings Inc. (SWX)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.30. Out of those 5 Wall Street analysts, 2 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
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