Natixis Advisors L.P. grew its position in Southwest Airlines Co (NYSE:LUV) by 11.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 141,011 shares of the airline’s stock after acquiring an additional 15,043 shares during the period. Natixis Advisors L.P.’s holdings in Southwest Airlines were worth $7,160,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Westside Investment Management Inc. acquired a new stake in Southwest Airlines in the second quarter valued at $60,000. Clear Perspective Advisors LLC acquired a new position in shares of Southwest Airlines during the 2nd quarter worth about $60,000. NEXT Financial Group Inc boosted its position in shares of Southwest Airlines by 1,073.5% during the 2nd quarter. NEXT Financial Group Inc now owns 1,197 shares of the airline’s stock worth $61,000 after acquiring an additional 1,095 shares in the last quarter. Executive Wealth Management LLC increased its holdings in shares of Southwest Airlines by 19.8% in the 2nd quarter. Executive Wealth Management LLC now owns 1,233 shares of the airline’s stock valued at $63,000 after acquiring an additional 204 shares during the last quarter. Finally, Carroll Financial Associates Inc. increased its holdings in shares of Southwest Airlines by 26.3% in the 2nd quarter. Carroll Financial Associates Inc. now owns 1,534 shares of the airline’s stock valued at $77,000 after acquiring an additional 319 shares during the last quarter. 82.10% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on LUV shares. Cowen restated a “market perform” rating and set a $57.00 target price (up previously from $55.00) on shares of Southwest Airlines in a research note on Friday, July 26th. Berenberg Bank started coverage on shares of Southwest Airlines in a research note on Friday, September 6th. They issued a “hold” rating and a $57.00 price target on the stock. Wolfe Research raised shares of Southwest Airlines from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a report on Friday, August 16th. Morgan Stanley cut their price objective on shares of Southwest Airlines from $64.00 to $59.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Finally, Argus downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. Southwest Airlines presently has a consensus rating of “Hold” and a consensus price target of $56.08.
LUV traded up $1.08 during trading on Wednesday, hitting $54.46. 165,906 shares of the stock were exchanged, compared to its average volume of 3,070,022. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 0.37. Southwest Airlines Co has a 1-year low of $44.28 and a 1-year high of $64.02. The stock has a fifty day moving average price of $51.38 and a two-hundred day moving average price of $51.75. The firm has a market capitalization of $28.53 billion, a P/E ratio of 12.85, a PEG ratio of 1.28 and a beta of 1.45.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, July 25th. The airline reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.02. The business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.94 billion. Southwest Airlines had a return on equity of 24.12% and a net margin of 10.73%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.26 earnings per share. Analysts predict that Southwest Airlines Co will post 4.27 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Wednesday, August 21st will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.72 annualized dividend and a yield of 1.32%. Southwest Airlines’s dividend payout ratio (DPR) is 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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