Phocas Financial Corp. Acquires New Holdings in Southwest Airlines Co (LUV)

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Phocas Financial Corp. bought a new stake in shares of Southwest Airlines Co (NYSE:LUV) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 11,490 shares of the airline’s stock, valued at approximately $570,000.

Other large investors also recently modified their holdings of the company. AE Wealth Management LLC lifted its position in Southwest Airlines by 19.0% during the 2nd quarter. AE Wealth Management LLC now owns 5,432 shares of the airline’s stock worth $276,000 after acquiring an additional 869 shares during the last quarter. Lucia Wealth Services LLC lifted its position in Southwest Airlines by 22.7% during the 2nd quarter. Lucia Wealth Services LLC now owns 4,854 shares of the airline’s stock worth $247,000 after acquiring an additional 898 shares during the last quarter. CIBC Asset Management Inc lifted its position in Southwest Airlines by 0.4% during the 2nd quarter. CIBC Asset Management Inc now owns 228,478 shares of the airline’s stock worth $11,625,000 after acquiring an additional 956 shares during the last quarter. Telos Capital Management Inc. lifted its position in Southwest Airlines by 2.9% during the 2nd quarter. Telos Capital Management Inc. now owns 34,775 shares of the airline’s stock worth $1,769,000 after acquiring an additional 972 shares during the last quarter. Finally, New Jersey Better Educational Savings Trust lifted its position in Southwest Airlines by 10.0% during the 2nd quarter. New Jersey Better Educational Savings Trust now owns 11,000 shares of the airline’s stock worth $560,000 after acquiring an additional 1,000 shares during the last quarter. 77.99% of the stock is owned by institutional investors.

LUV has been the subject of a number of research analyst reports. Morgan Stanley reissued a “buy” rating on shares of Southwest Airlines in a research report on Tuesday, August 14th. Macquarie set a $71.00 price objective on shares of Southwest Airlines and gave the stock a “buy” rating in a report on Monday, September 17th. Buckingham Research boosted their price objective on shares of Southwest Airlines from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, September 7th. Argus upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a report on Friday, September 7th. Finally, Stephens set a $69.00 price objective on shares of Southwest Airlines and gave the stock a “buy” rating in a report on Friday, July 27th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Southwest Airlines has an average rating of “Buy” and an average price target of $69.30.

In other Southwest Airlines news, SVP Mark R. Shaw sold 4,910 shares of the business’s stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $58.35, for a total value of $286,498.50. Following the transaction, the senior vice president now directly owns 11,546 shares in the company, valued at $673,709.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Andrew M. Watterson sold 6,130 shares of the business’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $59.28, for a total transaction of $363,386.40. Following the completion of the transaction, the executive vice president now owns 16,597 shares in the company, valued at $983,870.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,470 shares of company stock worth $674,941. Company insiders own 0.23% of the company’s stock.

NYSE LUV traded up $0.35 on Friday, reaching $57.38. The company’s stock had a trading volume of 4,011,789 shares, compared to its average volume of 5,158,625. The stock has a market cap of $35.79 billion, a P/E ratio of 16.39, a PEG ratio of 1.24 and a beta of 1.06. Southwest Airlines Co has a 52 week low of $49.93 and a 52 week high of $66.99. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.48.

Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, July 26th. The airline reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.03. The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.75 billion. Southwest Airlines had a net margin of 16.90% and a return on equity of 22.16%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.24 earnings per share. Research analysts anticipate that Southwest Airlines Co will post 4.2 earnings per share for the current year.

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, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 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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