Macquarie Group Ltd. raised its stake in Southwest Airlines Co (NYSE:LUV) by 28.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 286,475 shares of the airline’s stock after acquiring an additional 63,459 shares during the quarter. Macquarie Group Ltd.’s holdings in Southwest Airlines were worth $23,513,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its position in shares of Southwest Airlines by 39.1% during the 4th quarter. Bank of New York Mellon Corp now owns 8,286,126 shares of the airline’s stock worth $542,326,000 after purchasing an additional 2,328,296 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Southwest Airlines by 171.7% during the 3rd quarter. Janus Henderson Group PLC now owns 1,821,985 shares of the airline’s stock worth $101,994,000 after purchasing an additional 1,151,371 shares in the last quarter. Anchor Bolt Capital LP grew its position in shares of Southwest Airlines by 221.9% during the 4th quarter. Anchor Bolt Capital LP now owns 1,346,350 shares of the airline’s stock worth $88,119,000 after purchasing an additional 928,147 shares in the last quarter. Wealthstreet Investment Advisors LLC acquired a new position in shares of Southwest Airlines during the 4th quarter worth approximately $56,737,000. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Southwest Airlines during the 3rd quarter worth approximately $46,406,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director William H. Dr Cunningham bought 3,500 shares of the business’s stock in a transaction on Monday, February 12th. The shares were purchased at an average price of $56.25 per share, for a total transaction of $196,875.00. Following the completion of the transaction, the director now directly owns 70,469 shares of the company’s stock, valued at approximately $3,963,881.25. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Gregory D. Wells sold 8,323 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $58.88, for a total transaction of $490,058.24. Following the completion of the sale, the executive vice president now owns 30,262 shares in the company, valued at approximately $1,781,826.56. The disclosure for this sale can be found here. Insiders sold 108,473 shares of company stock worth $6,296,091 in the last 90 days. Company insiders own 0.21% of the company’s stock.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings results on Thursday, January 25th. The airline reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.01. The business had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.25 billion. Southwest Airlines had a net margin of 16.48% and a return on equity of 23.43%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $0.75 EPS. analysts forecast that Southwest Airlines Co will post 4.95 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th will be given a $0.125 dividend. The ex-dividend date is Tuesday, March 6th. This represents a $0.50 dividend on an annualized basis and a yield of 0.88%. Southwest Airlines’s dividend payout ratio is currently 8.59%.
A number of brokerages have issued reports on LUV. Bank of America lowered shares of Southwest Airlines from a “buy” rating to a “neutral” rating and set a $73.00 target price on the stock. in a research report on Tuesday, January 9th. Vetr upgraded shares of Southwest Airlines from a “strong sell” rating to a “sell” rating and set a $60.23 target price on the stock in a research report on Tuesday, December 26th. Atlantic Securities upgraded shares of Southwest Airlines from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $48.71 to $71.00 in a research report on Thursday, December 14th. Zacks Investment Research lowered shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 13th. Finally, ValuEngine lowered shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company. Southwest Airlines has a consensus rating of “Buy” and a consensus price target of $69.95.
About Southwest Airlines
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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