Parametric Portfolio Associates LLC increased its holdings in shares of Southwest Airlines Co (NYSE:LUV) by 2.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,602,393 shares of the airline’s stock after purchasing an additional 45,095 shares during the period. Parametric Portfolio Associates LLC owned 0.30% of Southwest Airlines worth $81,370,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in Southwest Airlines by 13.7% during the fourth quarter. Geode Capital Management LLC now owns 6,706,799 shares of the airline’s stock valued at $311,306,000 after acquiring an additional 809,418 shares during the last quarter. Bank of Montreal Can lifted its position in Southwest Airlines by 2.5% during the second quarter. Bank of Montreal Can now owns 6,292,464 shares of the airline’s stock valued at $319,532,000 after acquiring an additional 154,845 shares during the last quarter. Northern Trust Corp lifted its position in Southwest Airlines by 3.9% during the first quarter. Northern Trust Corp now owns 5,507,833 shares of the airline’s stock valued at $285,912,000 after acquiring an additional 204,758 shares during the last quarter. American Century Companies Inc. lifted its position in Southwest Airlines by 12.9% during the first quarter. American Century Companies Inc. now owns 4,830,964 shares of the airline’s stock valued at $250,775,000 after acquiring an additional 551,220 shares during the last quarter. Finally, Provident Trust Co. lifted its position in Southwest Airlines by 5.5% during the second quarter. Provident Trust Co. now owns 3,924,630 shares of the airline’s stock valued at $199,293,000 after acquiring an additional 205,435 shares during the last quarter. Hedge funds and other institutional investors own 82.10% of the company’s stock.
A number of research firms recently commented on LUV. Morgan Stanley decreased their target price on shares of Southwest Airlines from $64.00 to $59.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. Macquarie raised shares of Southwest Airlines from a “neutral” rating to an “outperform” rating in a research report on Friday. Argus cut shares of Southwest Airlines from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Berenberg Bank began coverage on shares of Southwest Airlines in a report on Friday, September 6th. They issued a “hold” rating and a $57.00 price target for the company. Finally, Cowen reaffirmed a “market perform” rating and issued a $57.00 price target (up previously from $55.00) on shares of Southwest Airlines in a report on Friday, July 26th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Southwest Airlines has an average rating of “Hold” and a consensus target price of $56.08.
LUV stock traded up $0.98 during midday trading on Friday, hitting $55.96. 2,408,702 shares of the stock traded hands, compared to its average volume of 3,067,717. The firm has a market cap of $28.69 billion, a P/E ratio of 13.20, a PEG ratio of 1.29 and a beta of 1.45. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.64 and a quick ratio of 0.59. The stock’s fifty day simple moving average is $51.39 and its 200-day simple moving average is $51.75. Southwest Airlines Co has a 1-year low of $44.28 and a 1-year high of $64.02.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Thursday, July 25th. The airline reported $1.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.02. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.94 billion. Southwest Airlines had a net margin of 10.73% and a return on equity of 24.12%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business earned $1.26 earnings per share. On average, research analysts predict that Southwest Airlines Co will post 4.27 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Wednesday, August 21st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.72 annualized dividend and a yield of 1.29%. Southwest Airlines’s dividend payout ratio is presently 16.98%.
About Southwest Airlines
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.
Want to see what other hedge funds are holding LUV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southwest Airlines Co (NYSE:LUV).
Receive News & Ratings for Southwest Airlines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines and related companies with MarketBeat.com's FREE daily email newsletter.