Southwest Airlines Company (LUV) Shares Bought by PGGM Investments
PGGM Investments raised its position in shares of Southwest Airlines Company (NYSE:LUV) by 12.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 583,058 shares of the airline’s stock after buying an additional 66,729 shares during the quarter. PGGM Investments owned about 0.10% of Southwest Airlines worth $32,640,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LUV. BlackRock Inc. grew its holdings in Southwest Airlines by 4,163.3% during the 1st quarter. BlackRock Inc. now owns 34,983,319 shares of the airline’s stock valued at $1,880,703,000 after buying an additional 34,162,752 shares in the last quarter. Boston Partners purchased a new position in shares of Southwest Airlines in the 2nd quarter worth approximately $153,454,000. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Southwest Airlines by 8,363.9% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 1,852,840 shares of the airline’s stock worth $99,609,000 after purchasing an additional 1,830,949 shares during the period. Thrivent Financial For Lutherans boosted its holdings in shares of Southwest Airlines by 35.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 4,150,288 shares of the airline’s stock worth $257,901,000 after purchasing an additional 1,090,189 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Southwest Airlines by 13.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,836,067 shares of the airline’s stock worth $549,016,000 after purchasing an additional 1,026,892 shares during the period. Institutional investors and hedge funds own 79.41% of the company’s stock.
In other news, Director William H. Dr Cunningham purchased 4,500 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $54.00 per share, for a total transaction of $243,000.00. Following the completion of the purchase, the director now directly owns 66,969 shares of the company’s stock, valued at $3,616,326. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is owned by corporate insiders.
Shares of Southwest Airlines Company (LUV) traded up 1.26% during midday trading on Friday, reaching $59.37. The company’s stock had a trading volume of 4,905,769 shares. Southwest Airlines Company has a one year low of $36.91 and a one year high of $64.39. The company has a market capitalization of $35.54 billion, a P/E ratio of 18.21 and a beta of 1.32. The stock’s 50-day moving average is $55.94 and its 200-day moving average is $57.31.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, July 27th. The airline reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.73 billion. Southwest Airlines had a return on equity of 26.07% and a net margin of 9.63%. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.19 earnings per share. On average, equities analysts expect that Southwest Airlines Company will post $3.62 earnings per share for the current fiscal year.
LUV has been the subject of a number of recent research reports. BidaskClub cut Southwest Airlines from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. Vetr upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $64.21 target price for the company in a report on Tuesday, July 18th. Zacks Investment Research upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a report on Tuesday, July 4th. Bank of America Corporation lifted their target price on Southwest Airlines from $62.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, June 30th. Finally, Cowen and Company reiterated a “buy” rating and issued a $67.00 target price on shares of Southwest Airlines in a report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the stock. Southwest Airlines has an average rating of “Buy” and an average target price of $66.95.
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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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