Twin Tree Management LP acquired a new position in Southwest Airlines Co (NYSE:LUV) in the first quarter, Holdings Channel reports. The institutional investor acquired 52,379 shares of the airline’s stock, valued at approximately $2,719,000.
A number of other institutional investors have also added to or reduced their stakes in the business. Cibc Bank USA boosted its holdings in Southwest Airlines by 41.3% in the first quarter. Cibc Bank USA now owns 16,933 shares of the airline’s stock worth $879,000 after purchasing an additional 4,953 shares during the period. Financial Counselors Inc. boosted its holdings in shares of Southwest Airlines by 1.1% during the first quarter. Financial Counselors Inc. now owns 22,303 shares of the airline’s stock valued at $1,158,000 after acquiring an additional 237 shares during the period. Western Wealth Management LLC boosted its holdings in shares of Southwest Airlines by 8.3% during the first quarter. Western Wealth Management LLC now owns 6,015 shares of the airline’s stock valued at $313,000 after acquiring an additional 460 shares during the period. Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Southwest Airlines during the first quarter valued at $214,000. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of Southwest Airlines by 1.8% during the first quarter. Nomura Asset Management Co. Ltd. now owns 26,098 shares of the airline’s stock valued at $1,355,000 after acquiring an additional 467 shares during the period. 83.65% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on LUV. Morgan Stanley reduced their price target on shares of Southwest Airlines from $68.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, May 20th. Zacks Investment Research downgraded shares of Southwest Airlines from a “hold” rating to a “sell” rating in a report on Thursday, May 16th. Argus reissued a “buy” rating on shares of Southwest Airlines in a report on Wednesday, May 1st. Barclays reduced their price target on shares of Southwest Airlines from $65.00 to $60.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Finally, Imperial Capital reissued an “in-line” rating and set a $55.00 price target (up previously from $52.00) on shares of Southwest Airlines in a report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Southwest Airlines presently has an average rating of “Hold” and a consensus target price of $58.64.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, April 25th. The airline reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.09. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.14 billion. Southwest Airlines had a net margin of 10.78% and a return on equity of 23.94%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.79 earnings per share. Equities analysts anticipate that Southwest Airlines Co will post 4.63 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 5th will be issued a $0.18 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $0.72 annualized dividend and a yield of 1.46%. This is an increase from Southwest Airlines’s previous quarterly dividend of $0.16. Southwest Airlines’s dividend payout ratio is presently 15.09%.
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Southwest Airlines Profile
Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.
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