Southwest Gas Holdings, Inc.
In the published model solve dated 2026-Q2, anchored at $90.50, Southwest Gas Holdings, Inc. (SWX) is priced for +7.0% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 11, 2026 from SEC EDGAR filings.
• Southwest Gas Holdings finished its transformation into a pure regulated gas utility plus a FERC-regulated pipeline: the 10-K confirms ⟦"the sale of Centuri, which comprised the Company's Utility Infrastructure Services segment, represents a strategic shift that has a significant impact on the Company's operations and financial results"⟧ (accession 0001692115-26-000062). • The growth story now runs through the Great Basin expansion: binding agreements for 0.6 billion cubic feet per day of new
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383 institutional managers reported holding SWX in 13F filings for the quarter ended 2026-03-31. Together they hold about 89% of the company; the top 10 hold 52%. 80 opened new positions that quarter. Held by BlackRock, Vanguard Group, FMR (Fidelity), among others. On the short side, 1.7M shares were sold short as of the 2026-06-15 count, about 2% of shares outstanding (3.3 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
SWX's share count grew 23.6% over the past five years. It pays a dividend, and has paid one every year in our records (10 and counting); the current rate is $2.48 a share annually. Cash returned over the past three years: $489.74M in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at SWX over the trailing three years: 2023: 8 buys totaling $10.96M; 2025: 1 buy totaling $2k. 21 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
SWX's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-10 | +3.1% | -11.2% |
| 2023-11-09 | -1.8% | +5.9% |
| 2024-02-29 | +9.0% | +10.5% |
| 2024-05-09 | +0.9% | -6.2% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
SWX's latest 8-K filings: 2026-08-05 (items 2.02, 9.01); 2026-05-11 (items 5.07); 2026-05-05 (items 2.02, 9.01); 2026-02-25 (items 5.02); 2026-02-25 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 11, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.