NEXT Financial Group Inc decreased its holdings in shares of Southwest Airlines Company (NYSE:LUV) by 38.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,461 shares of the airline’s stock after selling 3,413 shares during the quarter. NEXT Financial Group Inc’s holdings in Southwest Airlines were worth $323,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in LUV. BDO Wealth Advisors LLC bought a new stake in Southwest Airlines during the 2nd quarter valued at approximately $102,000. Pittenger & Anderson Inc. boosted its stake in Southwest Airlines by 13.5% during the 2nd quarter. Pittenger & Anderson Inc. now owns 2,100 shares of the airline’s stock valued at $130,000 after purchasing an additional 250 shares during the period. Harfst & Associates Inc. boosted its stake in Southwest Airlines by 43.8% during the 2nd quarter. Harfst & Associates Inc. now owns 2,402 shares of the airline’s stock valued at $149,000 after purchasing an additional 732 shares during the period. Farmers & Merchants Investments Inc. boosted its stake in Southwest Airlines by 2.9% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 2,632 shares of the airline’s stock valued at $164,000 after purchasing an additional 75 shares during the period. Finally, Motco boosted its stake in Southwest Airlines by 178.4% during the 2nd quarter. Motco now owns 2,817 shares of the airline’s stock valued at $175,000 after purchasing an additional 1,805 shares during the period. Hedge funds and other institutional investors own 79.78% of the company’s stock.
Southwest Airlines Company (NYSE:LUV) traded down $0.06 during mid-day trading on Tuesday, reaching $54.65. The company had a trading volume of 4,086,600 shares, compared to its average volume of 5,206,791. Southwest Airlines Company has a 12-month low of $44.70 and a 12-month high of $64.39. The firm has a market cap of $32,480.00, a PE ratio of 15.77, a price-to-earnings-growth ratio of 1.81 and a beta of 1.31. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.61 and a quick ratio of 0.55.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Thursday, October 26th. The airline reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.01. Southwest Airlines had a return on equity of 24.85% and a net margin of 10.12%. The firm had revenue of $5.27 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same period last year, the firm posted $0.93 EPS. The business’s revenue was up 2.6% on a year-over-year basis. equities research analysts forecast that Southwest Airlines Company will post 3.56 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Thursday, December 7th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $0.50 dividend on an annualized basis and a yield of 0.91%. Southwest Airlines’s dividend payout ratio is 14.33%.
A number of brokerages have commented on LUV. BidaskClub downgraded Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Vetr upgraded Southwest Airlines from a “buy” rating to a “strong-buy” rating and set a $64.53 price objective for the company in a research report on Thursday, July 27th. Citigroup Inc. reiterated a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of Southwest Airlines in a research report on Thursday, September 7th. Morgan Stanley reiterated an “overweight” rating on shares of Southwest Airlines in a research report on Tuesday, September 12th. Finally, Cowen and Company reiterated a “buy” rating and issued a $67.00 price objective on shares of Southwest Airlines in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $67.00.
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In related news, Director John T. Montford sold 935 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $53.94, for a total transaction of $50,433.90. Following the completion of the sale, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $1,348,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.21% of the company’s stock.
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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