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In a recent transaction, Carl C. Icahn, along with Icahn Partners LP and Icahn Partners Master Fund LP, sold a significant portion of their holdings in Southwest Gas Holdings, Inc. (NYSE:SWX), a $5.25 billion utility company currently trading at $72.95. According to InvestingPro analysis, the company maintains a GOOD financial health score and appears undervalued at current levels. The sale, which occurred on March 24, involved 2.1 million shares of common stock at a price of $74.60 per share, amounting to a total value of approximately $156.66 million.
Following this transaction, Icahn Partners now directly owns 4,268,007 shares, while Icahn Partners Master Fund LP holds 3,264,597 shares. The shares were sold to a market maker in accordance with Section 144(f)(1)(ii) of the Securities Act of 1933. Carl Icahn, through various entities, retains a substantial interest in Southwest Gas Holdings, despite the recent sale.
In other recent news, Southwest Gas Holdings Inc. reported its fourth-quarter 2024 earnings, showcasing a strong performance with an earnings per share (EPS) of $1.39, surpassing analyst expectations of $1.27. The company also met revenue forecasts with $1.27 billion, reflecting a steady financial performance. Despite these positive results, the company’s stock experienced a decline as investors processed the earnings announcement. Southwest Gas Holdings has outlined a significant capital expenditure plan of $4.3 billion over the next five years, focusing on infrastructure and safety investments. The company has projected a utility net income guidance of $265-$275 million for 2025, with an anticipated earnings growth of 8-9% over 2024. Analysts have noted that the company’s strategic focus on regulatory strategies and cost management efforts are key factors driving its growth. Additionally, the company ended 2024 with over $360 million in cash and more than $1 billion in total liquidity, indicating a strong financial position. As part of its future plans, Southwest Gas Holdings is also considering the separation of its Centuri business, with market conditions being closely monitored for this strategic move.
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