Bluestein R H & Co. Decreases Holdings in Southwest Airlines Company (LUV)
Bluestein R H & Co. reduced its position in shares of Southwest Airlines Company (NYSE:LUV) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 730,102 shares of the airline’s stock after selling 10,690 shares during the quarter. Southwest Airlines comprises 2.6% of Bluestein R H & Co.’s portfolio, making the stock its 12th largest holding. Bluestein R H & Co. owned about 0.12% of Southwest Airlines worth $45,369,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BDO Wealth Advisors LLC acquired a new stake in shares of Southwest Airlines during the 2nd quarter valued at $102,000. Pittenger & Anderson Inc. lifted its position in shares of Southwest Airlines by 13.5% during the 2nd quarter. Pittenger & Anderson Inc. now owns 2,100 shares of the airline’s stock valued at $130,000 after acquiring an additional 250 shares during the last quarter. National Pension Service acquired a new stake in shares of Southwest Airlines during the 2nd quarter valued at $141,000. Guardian Life Insurance Co. of America lifted its position in shares of Southwest Airlines by 0.6% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,374 shares of the airline’s stock valued at $128,000 after acquiring an additional 15 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Southwest Airlines by 6.6% during the 1st quarter. Van ECK Associates Corp now owns 2,502 shares of the airline’s stock valued at $135,000 after acquiring an additional 154 shares during the last quarter. 79.42% of the stock is owned by hedge funds and other institutional investors.
Southwest Airlines Company (LUV) traded up 0.40% during trading on Friday, hitting $54.85. 1,308,935 shares of the stock were exchanged. Southwest Airlines Company has a 12-month low of $36.31 and a 12-month high of $64.39. The stock has a 50 day moving average price of $53.62 and a 200-day moving average price of $56.82. The firm has a market capitalization of $32.83 billion, a PE ratio of 16.82 and a beta of 1.29.
Southwest Airlines (NYSE:LUV) last issued 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. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The firm had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.73 billion. During the same period in the previous year, the firm posted $1.19 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, equities research analysts anticipate that Southwest Airlines Company will post $3.70 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $0.50 annualized dividend and a yield of 0.92%. Southwest Airlines’s dividend payout ratio (DPR) is presently 15.34%.
In other Southwest Airlines news, Director William H. Dr Cunningham purchased 4,500 shares of the business’s stock in a transaction on Friday, August 11th. The shares were purchased at an average cost of $54.00 per share, with a total value of $243,000.00. Following the transaction, the director now directly owns 66,969 shares of the company’s stock, valued at approximately $3,616,326. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.
A number of research firms have recently issued reports on LUV. Stifel Nicolaus restated a “buy” rating and issued a $80.00 target price on shares of Southwest Airlines in a report on Friday, May 26th. J P Morgan Chase & Co upgraded Southwest Airlines from a “neutral” rating to an “overweight” rating and increased their target price for the company from $60.00 to $66.00 in a report on Friday, September 15th. Cowen and Company restated a “buy” rating and issued a $67.00 target price on shares of Southwest Airlines in a report on Friday, September 1st. Citigroup Inc. restated a “buy” rating and issued a $64.00 target price (down previously from $65.00) on shares of Southwest Airlines in a report on Thursday, September 7th. Finally, Zacks Investment Research upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a report on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $67.26.
Southwest Airlines 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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