Southwest Airlines Company (LUV) Shares Bought by Employees Retirement System of Texas
Employees Retirement System of Texas grew its stake in shares of Southwest Airlines Company (NYSE:LUV) by 6.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,600 shares of the airline’s stock after acquiring an additional 4,000 shares during the period. Employees Retirement System of Texas’ holdings in Southwest Airlines were worth $4,387,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of LUV. M&T Bank Corp grew its holdings in shares of Southwest Airlines by 12.8% during the 1st quarter. M&T Bank Corp now owns 134,455 shares of the airline’s stock valued at $7,229,000 after acquiring an additional 15,274 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Southwest Airlines during the 1st quarter valued at $1,396,000. Hartline Investment Corp grew its holdings in shares of Southwest Airlines by 5.0% during the 1st quarter. Hartline Investment Corp now owns 19,997 shares of the airline’s stock valued at $1,075,000 after acquiring an additional 950 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of Southwest Airlines by 158.3% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 972,781 shares of the airline’s stock valued at $52,297,000 after acquiring an additional 596,167 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in shares of Southwest Airlines by 19.0% during the 1st quarter. Stifel Financial Corp now owns 108,461 shares of the airline’s stock valued at $5,831,000 after acquiring an additional 17,353 shares in the last quarter. Institutional investors and hedge funds own 79.42% of the company’s stock.
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In other news, Director William H. Dr Cunningham acquired 4,500 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was bought at an average price of $54.00 per share, with a total value of $243,000.00. Following the transaction, the director now directly owns 66,969 shares in the company, valued at approximately $3,616,326. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.
Southwest Airlines Company (NYSE LUV) opened at 58.44 on Friday. The firm’s 50-day moving average is $54.10 and its 200-day moving average is $56.92. Southwest Airlines Company has a 52-week low of $36.91 and a 52-week high of $64.39. The firm has a market cap of $34.98 billion, a price-to-earnings ratio of 17.92 and a beta of 1.32.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter last year, the firm posted $1.19 EPS. The company’s quarterly revenue was up 6.7% on a year-over-year basis. Analysts forecast that Southwest Airlines Company will post $3.64 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Tuesday, August 22nd. Southwest Airlines’s dividend payout ratio (DPR) is presently 15.34%.
Several research firms have recently commented on LUV. J P Morgan Chase & Co upgraded shares of Southwest Airlines from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $60.00 to $66.00 in a report on Friday, September 15th. Cowen and Company reiterated a “buy” rating and issued a $67.00 price objective on shares of Southwest Airlines in a report on Friday, September 1st. Citigroup Inc. reiterated a “buy” rating and issued a $64.00 price objective (down from $65.00) on shares of Southwest Airlines in a report on Thursday, September 7th. Argus upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and upped their price objective for the stock from $61.76 to $68.00 in a report on Thursday, June 22nd. Finally, Zacks Investment Research upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Tuesday, July 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $66.95.
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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