Municipal Employees Retirement System of Michigan Purchases Shares of 14,230 Southwest Airlines Co (LUV)

Municipal Employees Retirement System of Michigan purchased a new stake in shares of Southwest Airlines Co (NYSE:LUV) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,230 shares of the airline’s stock, valued at approximately $661,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Gotham Asset Management LLC grew its stake in Southwest Airlines by 381.9% in the fourth quarter. Gotham Asset Management LLC now owns 317,917 shares of the airline’s stock valued at $14,777,000 after purchasing an additional 251,952 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Southwest Airlines by 813.7% in the fourth quarter. Nuveen Asset Management LLC now owns 391,785 shares of the airline’s stock valued at $18,210,000 after purchasing an additional 348,905 shares in the last quarter. Candriam Luxembourg S.C.A. grew its stake in Southwest Airlines by 3.4% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 194,343 shares of the airline’s stock valued at $9,033,000 after purchasing an additional 6,400 shares in the last quarter. MML Investors Services LLC grew its stake in Southwest Airlines by 5.9% in the fourth quarter. MML Investors Services LLC now owns 25,728 shares of the airline’s stock valued at $1,196,000 after purchasing an additional 1,436 shares in the last quarter. Finally, Argentiere Capital AG bought a new stake in shares of Southwest Airlines during the 4th quarter worth about $3,901,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Shares of LUV opened at $52.41 on Tuesday. Southwest Airlines Co has a 1 year low of $44.28 and a 1 year high of $64.02. The company has a quick ratio of 0.58, a current ratio of 0.64 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $28.69 billion, a PE ratio of 12.36, a P/E/G ratio of 0.90 and a beta of 1.50.

Southwest Airlines (NYSE:LUV) last issued its earnings results on Thursday, January 24th. The airline reported $1.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.11. Southwest Airlines had a return on equity of 24.56% and a net margin of 11.22%. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.68 billion. During the same period in the prior year, the firm posted $0.77 EPS. Southwest Airlines’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts expect that Southwest Airlines Co will post 5.04 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were issued a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.22%. Southwest Airlines’s payout ratio is presently 15.09%.

LUV has been the subject of several recent analyst reports. Vertical Research initiated coverage on Southwest Airlines in a research note on Monday, February 4th. They set a “buy” rating for the company. Macquarie set a $65.00 price target on Southwest Airlines and gave the stock a “buy” rating in a research note on Tuesday, January 29th. Zacks Investment Research upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Friday, January 11th. Credit Suisse Group reiterated a “hold” rating and set a $56.00 price target (down previously from $60.00) on shares of Southwest Airlines in a research note on Thursday, February 21st. Finally, Imperial Capital reiterated an “in-line” rating and set a $60.00 price target (up previously from $52.00) on shares of Southwest Airlines in a research note on Friday, January 25th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $59.19.

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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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Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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