Hi Line Capital Management LLC lifted its position in shares of Southwest Airlines Co (NYSE:LUV) by 0.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,304 shares of the airline’s stock after purchasing an additional 763 shares during the quarter. Southwest Airlines accounts for 2.6% of Hi Line Capital Management LLC’s investment portfolio, making the stock its 17th largest holding. Hi Line Capital Management LLC’s holdings in Southwest Airlines were worth $5,703,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of LUV. Geode Capital Management LLC grew its stake in Southwest Airlines by 13.7% in the 4th quarter. Geode Capital Management LLC now owns 6,706,799 shares of the airline’s stock valued at $311,306,000 after purchasing an additional 809,418 shares during the period. Bank of Montreal Can grew its stake in Southwest Airlines by 2.5% in the 2nd quarter. Bank of Montreal Can now owns 6,292,464 shares of the airline’s stock valued at $319,532,000 after purchasing an additional 154,845 shares during the period. Northern Trust Corp grew its stake in Southwest Airlines by 3.9% in the 1st quarter. Northern Trust Corp now owns 5,507,833 shares of the airline’s stock valued at $285,912,000 after purchasing an additional 204,758 shares during the period. American Century Companies Inc. grew its stake in Southwest Airlines by 12.9% in the 1st quarter. American Century Companies Inc. now owns 4,830,964 shares of the airline’s stock valued at $250,775,000 after purchasing an additional 551,220 shares during the period. Finally, Provident Trust Co. grew its stake in Southwest Airlines by 5.5% in the 2nd quarter. Provident Trust Co. now owns 3,924,630 shares of the airline’s stock valued at $199,293,000 after purchasing an additional 205,435 shares during the period. 82.10% of the stock is currently owned by institutional investors.
A number of brokerages have issued reports on LUV. Zacks Investment Research downgraded Southwest Airlines from a “hold” rating to a “sell” rating in a research note on Thursday, May 16th. Argus downgraded Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Wolfe Research upgraded Southwest Airlines from a “peer perform” rating to an “outperform” rating and set a $57.00 price target for the company in a research note on Friday, August 16th. Cowen reiterated a “market perform” rating and set a $57.00 price target (up previously from $55.00) on shares of Southwest Airlines in a research note on Friday, July 26th. Finally, Morgan Stanley cut their price target on Southwest Airlines from $64.00 to $59.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Southwest Airlines has a consensus rating of “Hold” and an average price target of $56.08.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Thursday, July 25th. The airline reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.02. Southwest Airlines had a return on equity of 24.12% and a net margin of 10.73%. The firm had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter last year, the firm posted $1.26 EPS. The company’s revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts expect that Southwest Airlines Co will post 4.27 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Wednesday, August 21st were issued a dividend of $0.18 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.28%. Southwest Airlines’s dividend payout ratio is 16.98%.
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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