Southwest Airlines Company (LUV) Holdings Reduced by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System lowered its holdings in Southwest Airlines Company (NYSE:LUV) by 2.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 829,382 shares of the airline’s stock after selling 24,070 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.14% of Southwest Airlines worth $46,429,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in LUV. Lucus Advisors LLC acquired a new stake in Southwest Airlines in the first quarter valued at $409,000. Nicholas Investment Partners LP acquired a new stake in Southwest Airlines in the first quarter valued at $4,766,000. Schwab Charles Investment Management Inc. lifted its holdings in Southwest Airlines by 4.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,839,925 shares of the airline’s stock valued at $98,915,000 after acquiring an additional 75,584 shares during the period. Two Sigma Securities LLC acquired a new stake in Southwest Airlines in the first quarter valued at $536,000. Finally, State Street Corp lifted its holdings in Southwest Airlines by 1.5% in the first quarter. State Street Corp now owns 23,480,558 shares of the airline’s stock valued at $1,262,308,000 after acquiring an additional 353,960 shares during the period. 79.55% of the stock is owned by institutional investors.
In other Southwest Airlines news, Director William H. Dr Cunningham purchased 4,500 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average price of $54.00 per share, with a total value of $243,000.00. Following the transaction, the director now owns 66,969 shares in the company, valued at $3,616,326. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is currently owned by company insiders.
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A number of research firms have commented on LUV. J P Morgan Chase & Co raised their target price on Southwest Airlines from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday. Stifel Nicolaus restated a “buy” rating and issued a $80.00 price target on shares of Southwest Airlines in a research report on Wednesday. Zacks Investment Research cut Southwest Airlines from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Deutsche Bank AG restated a “buy” rating and issued a $71.00 price target on shares of Southwest Airlines in a research report on Friday, October 27th. Finally, Cowen and Company restated an “outperform” rating and issued a $64.00 price target (up previously from $62.00) on shares of Southwest Airlines in a research report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company. Southwest Airlines currently has a consensus rating of “Buy” and a consensus target price of $67.19.
Southwest Airlines Company (NYSE:LUV) traded up $0.15 on Friday, reaching $54.14. The company’s stock had a trading volume of 3,057,452 shares, compared to its average volume of 5,120,000. Southwest Airlines Company has a 52 week low of $39.56 and a 52 week high of $64.39. The stock has a market cap of $32.13 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 1.79 and a beta of 1.31. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 0.46.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Thursday, October 26th. The airline reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.01. Southwest Airlines had a net margin of 10.12% and a return on equity of 24.85%. The business had revenue of $5.27 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter last year, the firm earned $0.93 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. equities research analysts predict that Southwest Airlines Company will post 3.56 EPS for the current year.
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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