Pioneer Investment Management Inc. raised its position in Southwest Airlines Company (NYSE:LUV) by 146.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 443,585 shares of the airline’s stock after buying an additional 263,502 shares during the period. Pioneer Investment Management Inc.’s holdings in Southwest Airlines were worth $27,564,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the company. Macquarie Group Ltd. increased its position in shares of Southwest Airlines by 52.6% in the fourth quarter. Macquarie Group Ltd. now owns 313,743 shares of the airline’s stock worth $15,637,000 after buying an additional 108,212 shares during the period. Gulf International Bank UK Ltd increased its position in shares of Southwest Airlines by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 50,407 shares of the airline’s stock worth $2,709,000 after buying an additional 680 shares during the period. Koshinski Asset Management Inc. acquired a new position in shares of Southwest Airlines during the first quarter worth $246,000. Quadrant Capital Group LLC increased its position in shares of Southwest Airlines by 0.5% in the first quarter. Quadrant Capital Group LLC now owns 3,488 shares of the airline’s stock worth $184,000 after buying an additional 16 shares during the period. Finally, E&G Advisors LP increased its position in shares of Southwest Airlines by 2.0% in the first quarter. E&G Advisors LP now owns 5,100 shares of the airline’s stock worth $274,000 after buying an additional 100 shares during the period. 80.34% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Southwest Airlines Company (NYSE:LUV) opened at 54.69 on Thursday. Southwest Airlines Company has a 1-year low of $36.05 and a 1-year high of $64.39. The company has a market capitalization of $32.74 billion, a PE ratio of 16.77 and a beta of 1.26. The firm’s 50-day moving average price is $59.97 and its 200 day moving average price is $57.17.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, July 27th. The airline reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same period in the previous year, the firm posted $1.19 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. Equities analysts predict that Southwest Airlines Company will post $3.80 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Tuesday, August 22nd. Southwest Airlines’s dividend payout ratio is currently 15.34%.
Southwest Airlines announced that its board has authorized a stock repurchase program on Wednesday, May 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the airline to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
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A number of brokerages have recently issued reports on LUV. Imperial Capital boosted their price objective on Southwest Airlines from $63.00 to $68.00 and gave the stock an “outperform” rating in a report on Friday, April 28th. Cowen and Company boosted their price objective on Southwest Airlines from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, April 28th. Deutsche Bank AG boosted their price objective on Southwest Airlines from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Scotiabank restated a “sector perform” rating on shares of Southwest Airlines in a report on Thursday, May 4th. Finally, Stifel Nicolaus restated a “buy” rating and set a $80.00 price objective on shares of Southwest Airlines in a report on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Southwest Airlines currently has a consensus rating of “Buy” and an average price target of $65.78.
In other Southwest Airlines news, CFO Tammy Romo sold 8,322 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $59.15, for a total value of $492,246.30. Following the completion of the sale, the chief financial officer now directly owns 87,387 shares of the company’s stock, valued at $5,168,941.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Gary C. Kelly sold 51,000 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $57.06, for a total transaction of $2,910,060.00. Following the completion of the sale, the chairman now directly owns 556,808 shares of the company’s stock, valued at $31,771,464.48. The disclosure for this sale can be found here. Insiders have sold a total of 118,740 shares of company stock valued at $6,923,568 over the last ninety days. 0.21% of the stock is currently owned by insiders.
Southwest Airlines Company Profile
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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