In a recent transaction, Justin L. Brown, President of Southwest Gas (NYSE:SWX) Corp., a subsidiary of Southwest Gas Holdings, Inc. (NYSE:SWX), sold 2,625 shares of the company's common stock. The total value of the shares sold amounted to approximately $200,812, with each share priced at $76.50.
This sale occurred on May 13, 2024, as indicated in the latest filings with the Securities and Exchange Commission. After this transaction, Brown's direct holdings in Southwest Gas Holdings, Inc. stand at 23,829.6339 shares. Additionally, he indirectly owns 3,366.234 shares through a 401(k) plan.
Investors often monitor insider transactions such as these for insights into the confidence that executives have in their company's current state and future prospects. However, it's important to note that sales of this nature can be motivated by various personal financial considerations and do not necessarily reflect a negative outlook on the company.
Southwest Gas Holdings, Inc., headquartered in Las Vegas, Nevada, is a prominent player in the natural gas transmission and distribution industry. The company is incorporated in Delaware and operates through its subsidiary, Southwest Gas Corporation.
InvestingPro Insights
Southwest Gas Holdings, Inc. (NYSE:SWX) has recently been in the spotlight due to insider trading activity, but what does the broader financial data suggest about the company's performance? According to real-time data from InvestingPro, the company has a market capitalization of $5.32 billion and is trading with a P/E ratio of 27.67. This valuation comes in the wake of the company's last twelve months as of Q1 2024, where it reported a revenue growth of 2.19%, showcasing stability in its financial performance.
One of the notable InvestingPro Tips for Southwest Gas Holdings is its consistent history of dividend payments, which have been maintained for an impressive 54 consecutive years. This could signal a strong commitment to shareholder returns. Moreover, the company's stock is trading near its 52-week high, reflecting a positive sentiment among investors. The company has also experienced a robust return over the last three months, with a price total return of 28.36%, indicating strong recent performance in the market.
For those looking to delve deeper into the financial health and future prospects of Southwest Gas Holdings, Inc., there are additional InvestingPro Tips available. In fact, there are 6 more tips that could provide valuable insights, ranging from earnings predictions to profitability metrics. To explore these further, interested readers can visit https://www.investing.com/pro/SWX and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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