Clearbridge Investments LLC continued to hold its position in Southwest Airlines Company (NYSE:LUV) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,200 shares of the airline’s stock at the end of the first quarter. Clearbridge Investments LLC’s holdings in Southwest Airlines were worth $1,355,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of LUV. BlackRock Inc. increased its position in Southwest Airlines by 4,163.3% in the first quarter. BlackRock Inc. now owns 34,983,319 shares of the airline’s stock worth $1,880,703,000 after buying an additional 34,162,752 shares in the last quarter. Ameriprise Financial Inc. increased its position in Southwest Airlines by 80.3% in the first quarter. Ameriprise Financial Inc. now owns 7,809,175 shares of the airline’s stock worth $419,796,000 after buying an additional 3,477,912 shares in the last quarter. Egerton Capital UK LLP increased its position in Southwest Airlines by 39.0% in the first quarter. Egerton Capital UK LLP now owns 9,401,341 shares of the airline’s stock worth $505,416,000 after buying an additional 2,638,743 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in Southwest Airlines by 8,363.9% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 1,852,840 shares of the airline’s stock worth $99,609,000 after buying an additional 1,830,949 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. bought a new position in Southwest Airlines during the first quarter worth $52,433,000. Institutional investors and hedge funds own 80.34% of the company’s stock.
Shares of Southwest Airlines Company (NYSE LUV) traded down 1.01% during trading on Tuesday, hitting $54.81. The stock had a trading volume of 5,306,839 shares. The firm’s 50 day moving average is $60.45 and its 200 day moving average is $57.02. Southwest Airlines Company has a 1-year low of $36.05 and a 1-year high of $64.39. The company has a market cap of $32.81 billion, a PE ratio of 16.81 and a beta of 1.26.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.19 EPS. Equities research analysts anticipate that Southwest Airlines Company will post $3.80 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 0.91%. The ex-dividend date is Tuesday, August 22nd. Southwest Airlines’s payout ratio is currently 15.34%.
Southwest Airlines announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the airline to repurchase up to 5.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.
A number of research firms have recently issued reports on LUV. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Southwest Airlines in a research report on Thursday, July 13th. BidaskClub cut Southwest Airlines from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research cut Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Vetr raised Southwest Airlines from a “hold” rating to a “buy” rating and set a $64.21 price objective for the company in a research report on Tuesday, June 27th. Finally, ValuEngine raised Southwest Airlines from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $65.78.
In other Southwest Airlines news, Chairman Gary C. Kelly sold 51,000 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $57.06, for a total value of $2,910,060.00. Following the sale, the chairman now owns 556,808 shares in the company, valued at approximately $31,771,464.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO De Ven Michael G. Van sold 15,273 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $57.14, for a total transaction of $872,699.22. Following 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. In the last quarter, insiders sold 118,740 shares of company stock worth $6,923,568. Corporate insiders own 0.21% of the company’s stock.
Southwest Airlines 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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