Prospera Financial Services Inc bought a new stake in shares of Southwest Airlines Company (NYSE:LUV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,541 shares of the airline’s stock, valued at approximately $351,000.
A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Southwest Airlines by 0.7% in the first quarter. Vanguard Group Inc. now owns 38,498,787 shares of the airline’s stock valued at $2,069,695,000 after buying an additional 286,456 shares during the period. BlackRock Inc. increased its stake in Southwest Airlines by 4,163.3% in the first quarter. BlackRock Inc. now owns 34,983,319 shares of the airline’s stock valued at $1,880,703,000 after buying an additional 34,162,752 shares during the last quarter. State Street Corp increased its stake in Southwest Airlines by 1.5% in the first quarter. State Street Corp now owns 23,480,558 shares of the airline’s stock valued at $1,262,308,000 after buying an additional 353,960 shares during the last quarter. Egerton Capital UK LLP increased its stake in Southwest Airlines by 39.0% in the first quarter. Egerton Capital UK LLP now owns 9,401,341 shares of the airline’s stock valued at $505,416,000 after buying an additional 2,638,743 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Southwest Airlines by 80.3% in the first quarter. Ameriprise Financial Inc. now owns 7,809,175 shares of the airline’s stock valued at $419,796,000 after buying an additional 3,477,912 shares during the last quarter. Institutional investors own 79.72% of the company’s stock.
Southwest Airlines Company (LUV) traded down 0.20% on Friday, reaching $60.28. 5,106,113 shares of the company’s stock were exchanged. Southwest Airlines Company has a 1-year low of $35.42 and a 1-year high of $64.39. The company has a market capitalization of $36.45 billion, a P/E ratio of 18.08 and a beta of 1.29. The firm has a 50-day moving average price of $61.22 and a 200-day moving average price of $56.59.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings results on Thursday, April 27th. The airline reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.01. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.91 billion. Southwest Airlines had a return on equity of 26.75% and a net margin of 10.16%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. Equities research analysts expect that Southwest Airlines Company will post $3.90 earnings per share for the current year.
Southwest Airlines announced that its board has approved a stock buyback program on Wednesday, May 17th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the airline to buy up to 5.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 28th. Investors of record on Wednesday, June 7th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, June 5th. This represents a $0.50 dividend on an annualized basis and a yield of 0.83%. This is a boost from Southwest Airlines’s previous quarterly dividend of $0.10. Southwest Airlines’s dividend payout ratio is currently 15.11%.
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Several equities research analysts have recently commented on the stock. Wolfe Research downgraded shares of Southwest Airlines from an “outperform” rating to a “market perform” rating and set a $63.00 price objective for the company. in a research note on Monday, July 10th. They noted that the move was a valuation call. Morgan Stanley reiterated an “overweight” rating and set a $66.00 price objective (up from $65.00) on shares of Southwest Airlines in a research note on Monday, July 10th. BidaskClub downgraded shares of Southwest Airlines from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Tuesday, July 4th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $70.00 price objective on shares of Southwest Airlines in a research note on Thursday, July 13th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Southwest Airlines currently has an average rating of “Buy” and an average target price of $63.80.
In other news, SVP Mark R. Shaw sold 3,823 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $59.13, for a total value of $226,053.99. Following the completion of the sale, the senior vice president now owns 7,784 shares in the company, valued at approximately $460,267.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO De Ven Michael G. Van sold 15,273 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $57.14, for a total transaction of $872,699.22. Following the completion of the sale, the chief operating officer now owns 182,302 shares of the company’s stock, valued at approximately $10,416,736.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 118,740 shares of company stock valued at $6,923,568. 0.18% of the stock is owned by company 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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