Premier Fund Managers Ltd boosted its position in Southwest Airlines Co. (NYSE:LUV) by 33.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,400 shares of the airline’s stock after buying an additional 15,400 shares during the period. Southwest Airlines makes up 2.3% of Premier Fund Managers Ltd’s investment portfolio, making the stock its 28th largest position. Premier Fund Managers Ltd’s holdings in Southwest Airlines were worth $2,387,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Huntington National Bank raised its stake in shares of Southwest Airlines by 40.3% in the second quarter. Huntington National Bank now owns 4,365 shares of the airline’s stock worth $171,000 after buying an additional 1,254 shares in the last quarter. Rehmann Capital Advisory Group bought a new stake in shares of Southwest Airlines during the first quarter worth approximately $216,000. Markston International LLC bought a new stake in shares of Southwest Airlines during the second quarter worth approximately $196,000. Checchi Capital Advisers LLC raised its stake in shares of Southwest Airlines by 3.4% in the second quarter. Checchi Capital Advisers LLC now owns 6,071 shares of the airline’s stock worth $238,000 after buying an additional 202 shares in the last quarter. Finally, Pitcairn Co. raised its stake in shares of Southwest Airlines by 2.8% in the second quarter. Pitcairn Co. now owns 6,071 shares of the airline’s stock worth $238,000 after buying an additional 165 shares in the last quarter. 78.34% of the stock is currently owned by institutional investors and hedge funds.
Shares of Southwest Airlines Co. (NYSE:LUV) traded down 1.46% during midday trading on Tuesday, hitting $39.16. The company had a trading volume of 10,650,503 shares. Southwest Airlines Co. has a 1-year low of $33.96 and a 1-year high of $51.34. The firm has a market capitalization of $24.29 billion, a P/E ratio of 10.39 and a beta of 0.79. The stock has a 50 day moving average price of $37.21 and a 200 day moving average price of $40.67.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Thursday, July 21st. The airline reported $1.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by $0.02. The firm had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.41 billion. Southwest Airlines had a net margin of 11.95% and a return on equity of 34.25%. Southwest Airlines’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the business earned $1.03 EPS. On average, equities analysts anticipate that Southwest Airlines Co. will post $3.78 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Thursday, August 18th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Tuesday, August 16th. Southwest Airlines’s dividend payout ratio (DPR) is presently 10.61%.
A number of analysts have commented on LUV shares. Vetr raised Southwest Airlines from a “buy” rating to a “strong-buy” rating and set a $43.50 price objective for the company in a report on Wednesday, September 28th. Deutsche Bank AG reissued a “buy” rating and set a $57.00 price objective on shares of Southwest Airlines in a report on Saturday, June 25th. Credit Suisse Group AG set a $48.00 price objective on Southwest Airlines and gave the stock a “buy” rating in a report on Monday, September 12th. Imperial Capital initiated coverage on Southwest Airlines in a report on Friday, September 9th. They set an “outperform” rating and a $46.00 price objective for the company. Finally, Zacks Investment Research lowered Southwest Airlines from a “hold” rating to a “sell” rating in a report on Thursday, July 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $48.18.
In other Southwest Airlines news, SVP Mark R. Shaw sold 1,776 shares of Southwest Airlines stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $37.62, for a total value of $66,813.12. Following the completion of the sale, the senior vice president now owns 5,226 shares of the company’s stock, valued at approximately $196,602.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO De Ven Michael G. Van bought 4,200 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was bought at an average cost of $35.77 per share, with a total value of $150,234.00. Following the transaction, the chief operating officer now owns 183,245 shares in the company, valued at approximately $6,554,673.65. The disclosure for this purchase can be found here. 0.18% of the stock is currently owned by company insiders.
Southwest Airlines Company Profile
Southwest Airlines Co (Southwest) operates Southwest Airlines. Southwest is a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company serves approximately 100 destinations in over 40 states, such as the District of Columbia, the Commonwealth of Puerto Rico, and approximately seven near-international countries, including Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, and Belize.
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