Cambridge Investment Research Advisors Inc. increased its stake in shares of Southwest Airlines Co (NYSE:LUV) by 5.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,870 shares of the airline’s stock after acquiring an additional 3,593 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Southwest Airlines were worth $3,504,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of LUV. Rockefeller Capital Management L.P. acquired a new stake in Southwest Airlines in the first quarter valued at approximately $207,785,000. American Century Companies Inc. grew its holdings in Southwest Airlines by 1,919.4% in the first quarter. American Century Companies Inc. now owns 2,613,827 shares of the airline’s stock valued at $149,720,000 after purchasing an additional 2,484,390 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in Southwest Airlines by 742.4% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,039,718 shares of the airline’s stock valued at $59,555,000 after purchasing an additional 916,300 shares during the period. Toronto Dominion Bank grew its holdings in Southwest Airlines by 1,282.5% in the first quarter. Toronto Dominion Bank now owns 960,479 shares of the airline’s stock valued at $55,012,000 after purchasing an additional 891,006 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in Southwest Airlines by 32.7% in the first quarter. Wells Fargo & Company MN now owns 2,963,797 shares of the airline’s stock valued at $169,766,000 after purchasing an additional 730,162 shares during the period. 78.07% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Andrew M. Watterson sold 6,130 shares of Southwest Airlines stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $59.28, for a total transaction of $363,386.40. Following the transaction, the executive vice president now owns 16,597 shares in the company, valued at $983,870.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John T. Montford sold 430 shares of Southwest Airlines stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $58.27, for a total value of $25,056.10. Following the transaction, the director now owns 23,853 shares in the company, valued at approximately $1,389,914.31. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,470 shares of company stock worth $674,941. 0.23% of the stock is currently owned by company insiders.
Several brokerages have commented on LUV. Argus lowered Southwest Airlines from a “buy” rating to a “hold” rating and dropped their price objective for the company from $66.99 to $49.76 in a report on Friday, June 15th. Buckingham Research dropped their price objective on Southwest Airlines from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, May 14th. Zacks Investment Research raised Southwest Airlines from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. Stephens set a $69.00 price objective on Southwest Airlines and gave the company a “buy” rating in a report on Friday, July 27th. Finally, Morgan Stanley reissued a “buy” rating on shares of Southwest Airlines in a report on Tuesday, August 14th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $66.93.
Shares of Southwest Airlines stock opened at $61.40 on Thursday. Southwest Airlines Co has a one year low of $49.76 and a one year high of $66.99. The company has a market cap of $35.13 billion, a P/E ratio of 17.59, a P/E/G ratio of 1.24 and a beta of 1.10. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.48.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, July 26th. The airline reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.03. Southwest Airlines had a return on equity of 22.16% and a net margin of 16.90%. The firm had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.75 billion. During the same quarter last year, the business posted $1.24 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. research analysts predict that Southwest Airlines Co will post 4.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 12th. Investors of record on Wednesday, August 22nd will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, August 21st. This represents a $0.64 dividend on an annualized basis and a yield of 1.04%. Southwest Airlines’s payout ratio is 18.29%.
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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