Insight Capital Research & Management Inc. purchased a new position in shares of Southwest Airlines Company (NYSE:LUV) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 30,406 shares of the airline’s stock, valued at approximately $1,889,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Ibex Wealth Advisors boosted its position in shares of Southwest Airlines by 12.4% in the fourth quarter. Ibex Wealth Advisors now owns 26,296 shares of the airline’s stock valued at $1,343,000 after buying an additional 2,904 shares during the period. Wealthfront Inc. boosted its position in shares of Southwest Airlines by 14.9% in the fourth quarter. Wealthfront Inc. now owns 12,381 shares of the airline’s stock valued at $617,000 after buying an additional 1,610 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Southwest Airlines by 37.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,179,576 shares of the airline’s stock valued at $58,791,000 after buying an additional 319,866 shares during the period. Pegasus Partners Ltd. boosted its position in shares of Southwest Airlines by 1.1% in the fourth quarter. Pegasus Partners Ltd. now owns 26,131 shares of the airline’s stock valued at $1,302,000 after buying an additional 296 shares during the period. Finally, Teachers Advisors LLC boosted its position in shares of Southwest Airlines by 1.6% in the fourth quarter. Teachers Advisors LLC now owns 1,040,871 shares of the airline’s stock valued at $51,877,000 after buying an additional 16,081 shares during the period. 79.69% of the stock is owned by institutional investors.
Southwest Airlines Company (LUV) traded up 0.51% during trading on Wednesday, hitting $59.12. 537,069 shares of the stock traded hands. The stock has a market cap of $35.75 billion, a P/E ratio of 17.73 and a beta of 1.29. The stock has a 50 day moving average price of $61.20 and a 200-day moving average price of $56.77. Southwest Airlines Company has a 52-week low of $35.42 and a 52-week high of $64.39.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, April 27th. The airline reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by $0.01. The firm 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%. Southwest Airlines’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 EPS. On average, analysts anticipate that Southwest Airlines Company will post $3.90 EPS for the current fiscal year.
Southwest Airlines announced that its Board of Directors has initiated a stock repurchase program on Wednesday, May 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the airline to reacquire up to 5.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 28th. Stockholders of record on Wednesday, June 7th were paid a dividend of $0.125 per share. This is a boost from Southwest Airlines’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, June 5th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.85%. Southwest Airlines’s dividend payout ratio (DPR) is presently 15.11%.
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LUV has been the subject of several recent analyst reports. Vetr raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $60.24 target price for the company in a report on Thursday, March 30th. Deutsche Bank AG lifted their target price on shares of Southwest Airlines from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 target price on shares of Southwest Airlines in a report on Friday, May 26th. Zacks Investment Research raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a report on Tuesday, May 30th. Finally, ValuEngine raised shares of Southwest Airlines from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $63.80.
In related news, EVP Jeff Lamb sold 19,800 shares of Southwest Airlines stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $61.00, for a total value of $1,207,800.00. Following the sale, the executive vice president now owns 92,468 shares of the company’s stock, valued at approximately $5,640,548. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mark R. Shaw sold 3,823 shares of Southwest Airlines stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $59.13, for a total transaction of $226,053.99. Following the completion of the sale, the senior vice president now directly owns 7,784 shares in the company, valued at approximately $460,267.92. The disclosure for this sale can be found here. Insiders have sold a total of 118,740 shares of company stock worth $6,923,568 in the last ninety days. Corporate insiders own 0.18% of the company’s stock.
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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