Profund Advisors LLC grew its holdings in shares of Southwest Airlines Co (NYSE:LUV) by 22.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,979 shares of the airline’s stock after buying an additional 2,918 shares during the quarter. Profund Advisors LLC’s holdings in Southwest Airlines were worth $811,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake 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 worth $311,306,000 after buying an additional 809,418 shares during the period. Bank of Montreal Can boosted its stake in shares of Southwest Airlines by 2.5% in the second quarter. Bank of Montreal Can now owns 6,292,464 shares of the airline’s stock valued at $319,532,000 after purchasing an additional 154,845 shares during the period. Northern Trust Corp boosted its stake in shares of Southwest Airlines by 3.9% in the first quarter. Northern Trust Corp now owns 5,507,833 shares of the airline’s stock valued at $285,912,000 after purchasing an additional 204,758 shares during the period. American Century Companies Inc. boosted its stake in shares of Southwest Airlines by 12.9% in the first quarter. American Century Companies Inc. now owns 4,830,964 shares of the airline’s stock valued at $250,775,000 after purchasing an additional 551,220 shares during the period. Finally, Provident Trust Co. boosted its stake in shares of Southwest Airlines by 5.5% in the second quarter. Provident Trust Co. now owns 3,924,630 shares of the airline’s stock valued at $199,293,000 after purchasing an additional 205,435 shares during the period. Institutional investors own 82.02% of the company’s stock.
Several research analysts have recently weighed in on the stock. Argus downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Wolfe Research upgraded shares of Southwest Airlines from a “peer perform” rating to an “outperform” rating and set a $57.00 target price for the company in a research note on Friday, August 16th. Zacks Investment Research upgraded shares of Southwest Airlines from a “sell” rating to a “hold” rating and set a $59.00 target price for the company in a research note on Monday. Berenberg Bank assumed coverage on shares of Southwest Airlines in a research note on Friday, September 6th. They issued a “hold” rating and a $57.00 target price for the company. Finally, 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 note on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $57.22.
LUV traded down $0.09 during trading on Tuesday, hitting $55.72. The company had a trading volume of 1,464,627 shares, compared to its average volume of 3,231,378. The company has a market cap of $30.17 billion, a PE ratio of 13.14, a P/E/G ratio of 1.35 and a beta of 1.45. The business has a 50-day moving average of $51.51 and a 200-day moving average of $51.79. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.64 and a quick ratio of 0.59. Southwest Airlines Co has a 1-year low of $44.28 and a 1-year high of $64.02.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings results on Thursday, July 25th. The airline reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.02. The firm had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Southwest Airlines had a net margin of 10.73% and a return on equity of 24.12%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.26 earnings per share. Research analysts forecast that Southwest Airlines Co will post 4.27 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Wednesday, August 21st were issued a $0.18 dividend. 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.
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