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No insider purchase over the last 90 days. The latest, by Sandoval Brian E, was filed 11 Sept 2025.
Southwest Gas Holdings, Inc.: what insiders have been doing
Every trade that managers of Southwest Gas Holdings, Inc. disclose to SEC (Form 4) is tracked on this page. The company sits in the Energy sector and is based in United States. It was founded in 1931. Between 20 October 2025 and 20 October 2026, 19 insiders published 35 filings.
There is no open-market purchase to report; the filings show 1 sale worth €211k by 1 insider. One trade stands out by size: a sale of €211k from Brown Justin L, disclosed on 13 January 2026.
Filings reach the SEC (Form 4) feed a median of 4 days after the trade. The legal deadline for a Form 4 is two business days after the transaction. A sale on its own says little: insiders also sell to pay tax, fund a purchase or diversify.
With 35 filings in twelve months, the company is more active than the median of 22 filings across the 5,453 companies we follow on the same exchange. Over the whole record (from 2017), the tally stands at 39 purchases and 43 sales.
These figures are compiled from regulatory filings published by SEC (Form 4). They describe what insiders did and are not a recommendation.
Insider Decl.
1,244
Thresholds
n/a
Buy Volume
€185M
39 ops. · all time
Sell Volume
€349M
43 ops. · all time
Who traded when
BuySaleIcahn Carl C3 sales
Stefani Robert J2 sales
Brian E. Sandoval1 buy
Justin L. Brown1 sale
Since the insiders bought
- +10.0%Entry US$78.54 · Close at T+365 US$86.40
- +22.1%Entry US$60.41 · Close at T+365 US$73.76
Entry is the close on the day after publication, the first price a reader could act on. Prices in the listing currency. Past moves are not a forecast.
Analyst consensus: bullish or bearish?
Analysts rate Southwest Gas Holdings, Inc. Strong Buy (bullish), based on 9 analysts. Average price target: US$99.78.
This score ranks the purchase within its own market. A position size is suggested only on the venues of the backtested strategy universe; elsewhere, signals stay on watch. Not investment advice.
Fundamental score
Ranked 11,939 of 26,283 companies
53.9
score / 100
Value49
Quality59
FCF yld-3.9%
Earn yld6.8%
EV/EBITDA11.5x
ROE6.8%
Gross mgn46%
Net mgn23%
Debt/EBITDA4.1x
Pillars2/3
Transparent value + quality ranking, distinct from the insider signal.
Financial data
as of FY 2025FY ended December 2025 · cache
US$87.45
Analyst consensus
9 analystsStrong buy
US$92.00Target US$99.78(+14%)US$107.00
Income statement
RevenueUS$1.9B
Gross profitUS$898.7M46% margin
EBITDAUS$864.7M45% margin
Net incomeUS$439.8M31.4% margin
Valuation
PER (trailing)21.9x
PER (forward)17.4x
P/Book1.5x
Beta0.56
Balance sheet & cash
Market capUS$6.3B
Total debtUS$3.5B
Free Cash Flow-US$251.8M
Debt / Equity85%
Profitability & ownership
ROE6.8%
ROA2.8%
% insiders0.6%
% institutions95.4%
Last declaration on 28 September 2026
Declarations1,244 total
2,500 shares@ US$81.80740.0031% mcap25.7% of flowCommonSEC144:0001959173-26-007131
543.737 shares@ US$80.0227.7% of flowCommon StockSEC:0001692115-26-000073:0
3,208.776 shares@ US$87.6015.4% of flowCommon StockSEC:0001692115-26-000072:0
13,105.277 shares@ US$80.0223.8% of flowCommon StockSEC:0001692115-26-000076:0
1,182.367 shares@ US$80.0233.4% of flowCommon StockSEC:0001692115-26-000075:0
3,472.571 shares@ US$80.0245.4% of flowCommon StockSEC:0001692115-26-000074:0
2,171.878 shares@ US$80.0236.7% of flowCommon StockSEC:0001692115-26-000071:0
519.918 shares@ US$80.0255.7% of flowCommon StockSEC:0001692115-26-000070:0
1,725.574 shares0Common StockSEC:0001692115-26-000054:0
2,340.236 shares0Common StockSEC:0001692115-26-000055:0
1,725.574 shares0Common StockSEC:0001692115-26-000053:0
1,725.574 shares0Common StockSEC:0001692115-26-000043:0
2,823.991 shares0Common StockSEC:0001692115-26-000052:0
1,725.574 shares0Common StockSEC:0001692115-26-000051:0
1,213.852 shares0Common StockSEC:0001692115-26-000050:0
1,725.574 shares0Common StockSEC:0001692115-26-000049:0
5,544.21 shares0Common StockSEC:0001692115-26-000048:0
2,588.361 shares0Common StockSEC:0001692115-26-000047:0
16,755.921 shares0Common StockSEC:0001692115-26-000046:0
3,964.655 shares0Common StockSEC:0001692115-26-000044:0
3,570.154 shares0Common StockSEC:0001692115-26-000045:0
1,725.574 shares0Common StockSEC:0001692115-26-000042:0
2,993.574 shares0Common StockSEC:0001692115-26-000041:0
1,725.574 shares0Common StockSEC:0001692115-26-000040:0
1,725.574 shares0Common StockSEC:0001692115-26-000039:0
25 of 1244 declarations
About Southwest Gas Holdings, Inc.
Southwest Gas Holdings, Inc. (ticker: SWX) is a United States-listed company traded on the NYSE/NASDAQ, with headquarters in Las Vegas, Nevada, United States. For francophone investors, it is best understood as a regulated natural gas utility platform focused on the western U.S. Through its main operating subsidiary, Southwest Gas Corporation, the company purchases, distributes, and transports natural gas for residential, commercial, and industrial customers, primarily in Arizona, Nevada, and California.
The company was founded in 1931, giving it a long operating history in the U.S. utility sector. That history matters: Southwest Gas Holdings operates in an industry where regulated assets, rate-base growth, and disciplined capital spending are central to value creation. As a result, SWX typically has a more defensive earnings profile than cyclical industrial or energy companies tied to commodity prices. At the same time, the business is still exposed to weather patterns, customer growth trends, fuel and purchased-gas costs, and decisions by state regulators.
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Its core business lines are straightforward but essential. Southwest Gas provides local natural gas distribution, transport services in its service territories, and ongoing infrastructure investment to expand and modernize the network. In a regulated utility model, reliability, safety, system integrity, and constructive rate cases are the key operating levers. The company’s competitive position is anchored by its entrenched service territories, large captive customer base, and long-standing utility relationships in the American Southwest.
From a market-position perspective, Southwest Gas Holdings is not a high-growth disruptor; it is a utility franchise with a relatively stable demand base and a clear regional footprint. Its strategic challenge is balancing reliability and affordability with the broader energy transition. Like other gas utilities, it faces scrutiny around electrification, decarbonization policies, and the long-term role of natural gas in customer end-use demand. However, the company’s regulated framework and infrastructure needs still support a durable investment case for income-oriented investors.
Recent developments have been notable. In 2025, the company continued to emphasize its transition toward a pure-play, fully regulated natural gas business after the separation of Centuri. Management also highlighted rate-case activity in its core states and the progress of the Great Basin expansion initiative. In early 2026, Southwest Gas Holdings reported full-year 2025 results and raised its quarterly dividend, reinforcing the view that the company is positioning itself as a more streamlined utility with a stronger shareholder-return profile. Overall, SWX remains a classic U.S. utility name: defensive, regulated, regionally concentrated, and focused on steady cash generation rather than rapid expansion.
