ProVise Management Group LLC maintained its position in Southwest Airlines Company (NYSE:LUV) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,149 shares of the airline’s stock at the end of the first quarter. ProVise Management Group LLC’s holdings in Southwest Airlines Company were worth $223,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantitative Systematic Strategies LLC purchased a new position in Southwest Airlines Company during the third quarter valued at approximately $1,867,000. Scout Investments Inc. raised its stake in shares of Southwest Airlines Company by 68.5% in the third quarter. Scout Investments Inc. now owns 840,226 shares of the airline’s stock worth $32,676,000 after buying an additional 341,504 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of Southwest Airlines Company by 372.4% in the third quarter. D.A. Davidson & CO. now owns 38,801 shares of the airline’s stock worth $1,507,000 after buying an additional 30,588 shares in the last quarter. ETRADE Capital Management LLC raised its stake in shares of Southwest Airlines Company by 1.1% in the third quarter. ETRADE Capital Management LLC now owns 51,127 shares of the airline’s stock worth $1,988,000 after buying an additional 553 shares in the last quarter. Finally, Fayez Sarofim & Co. bought a new stake in shares of Southwest Airlines Company during the third quarter worth about $5,884,000. 80.58% of the stock is owned by institutional investors.
Southwest Airlines Company (NYSE LUV) traded down 0.98% on Tuesday, reaching $60.32. The company had a trading volume of 1,252,048 shares. Southwest Airlines Company has a 52-week low of $35.42 and a 52-week high of $61.24. The company’s 50-day moving average is $59.04 and its 200-day moving average is $54.70. The company has a market capitalization of $36.47 billion, a PE ratio of 18.09 and a beta of 1.26.
Southwest Airlines Company (NYSE:LUV) last released its earnings results on Thursday, April 27th. The airline reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by $0.01. Southwest Airlines Company had a return on equity of 26.75% and a net margin of 10.16%. The firm had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.91 billion. During the same period in the prior year, the business earned $0.88 EPS. The company’s quarterly revenue was up 1.2% on a year-over-year basis. Equities analysts anticipate that Southwest Airlines Company will post $3.84 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 28th. Stockholders of record on Wednesday, June 7th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.82%. This is a boost from Southwest Airlines Company’s previous quarterly dividend of $0.10. The ex-dividend date is Monday, June 5th. Southwest Airlines Company’s dividend payout ratio is presently 15.11%.
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Several analysts recently weighed in on LUV shares. Atlantic Securities started coverage on Southwest Airlines Company in a report on Tuesday. They issued a “neutral” rating and a $71.00 price objective for the company. BidaskClub downgraded Southwest Airlines Company from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Zacks Investment Research upgraded shares of Southwest Airlines Company from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a report on Tuesday, June 6th. Vetr upgraded shares of Southwest Airlines Company from a “sell” rating to a “hold” rating and set a $62.02 target price for the company in a report on Monday, May 29th. Finally, Stifel Nicolaus restated a “buy” rating and set a $80.00 price objective on shares of Southwest Airlines Company in a report on Friday, May 26th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $59.87.
In related news, Chairman Gary C. Kelly sold 51,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $57.06, for a total value of $2,910,060.00. Following the sale, the chairman now directly owns 556,808 shares in the company, valued at approximately $31,771,464.48. The transaction was disclosed in a legal filing with the SEC, 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 that occurred on Thursday, May 18th. The shares were sold at an average price of $57.14, for a total value of $872,699.22. Following the completion of the sale, the chief operating officer now owns 182,302 shares in the company, valued at $10,416,736.28. 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 over the last quarter. Insiders own 0.18% of the company’s stock.
Southwest Airlines Company 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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