Linscomb Wealth Inc. Sells 3,797 Shares of Southwest Airlines Co. $LUV

Linscomb Wealth Inc. decreased its position in Southwest Airlines Co. (NYSE:LUV) by 24.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 11,448 shares of the airline’s stock after selling 3,797 shares during the period. Linscomb Wealth Inc.’s holdings in Southwest Airlines were worth $371,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Alyeska Investment Group L.P. acquired a new stake in Southwest Airlines in the 1st quarter valued at approximately $56,244,000. Nuveen LLC bought a new position in shares of Southwest Airlines during the 1st quarter worth approximately $50,433,000. Primecap Management Co. CA raised its holdings in shares of Southwest Airlines by 1.6% in the first quarter. Primecap Management Co. CA now owns 49,688,308 shares of the airline’s stock valued at $1,668,533,000 after purchasing an additional 788,255 shares during the last quarter. Mizuho Markets Americas LLC bought a new stake in shares of Southwest Airlines in the second quarter worth $24,330,000. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of Southwest Airlines in the first quarter worth $18,163,000. 80.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Susquehanna raised their target price on shares of Southwest Airlines from $30.00 to $35.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Southwest Airlines in a research report on Wednesday, October 8th. Barclays upped their target price on Southwest Airlines from $26.00 to $34.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Evercore ISI raised their price target on Southwest Airlines from $34.00 to $35.00 and gave the company an “in-line” rating in a research note on Monday, September 29th. Finally, Jefferies Financial Group upped their price objective on Southwest Airlines from $30.00 to $31.00 and gave the stock a “hold” rating in a research note on Wednesday, October 1st. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, Southwest Airlines has a consensus rating of “Reduce” and a consensus target price of $33.38.

Southwest Airlines Price Performance

NYSE:LUV opened at $30.30 on Friday. Southwest Airlines Co. has a 12-month low of $23.82 and a 12-month high of $37.96. The firm has a market capitalization of $15.67 billion, a price-to-earnings ratio of 46.61, a P/E/G ratio of 0.75 and a beta of 1.21. The stock’s 50 day moving average price is $32.30 and its two-hundred day moving average price is $31.84. The company has a quick ratio of 0.42, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Tuesday, February 6th. The airline reported ($0.38) earnings per share (EPS) for the quarter. The business had revenue of $6.17 billion for the quarter. Southwest Airlines had a net margin of 1.38% and a return on equity of 6.39%. On average, analysts anticipate that Southwest Airlines Co. will post 1.55 earnings per share for the current year.

Southwest Airlines declared that its Board of Directors has authorized a stock buyback plan on Wednesday, July 23rd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the airline to repurchase up to 9.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Sarah Feinberg bought 1,500 shares of the company’s stock in a transaction dated Tuesday, August 5th. The stock was bought at an average price of $30.01 per share, with a total value of $45,015.00. Following the completion of the acquisition, the director owned 14,229 shares of the company’s stock, valued at $427,012.29. This represents a 11.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gregg A. Saretsky purchased 3,345 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average cost of $30.03 per share, for a total transaction of $100,450.35. Following the completion of the transaction, the director owned 23,644 shares of the company’s stock, valued at $710,029.32. This trade represents a 16.48% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.79% of the company’s stock.

Southwest Airlines Profile

Southwest Airlines Co operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.