Southwest Airlines Company (LUV) Stake Lessened by Caisse DE Depot ET Placement DU Quebec
Caisse DE Depot ET Placement DU Quebec lessened its holdings in Southwest Airlines Company (NYSE:LUV) by 35.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 88,418 shares of the airline’s stock after selling 48,800 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Southwest Airlines were worth $4,970,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Boston Partners raised its stake in Southwest Airlines by 101.7% during the 3rd quarter. Boston Partners now owns 4,980,739 shares of the airline’s stock worth $278,822,000 after acquiring an additional 2,511,258 shares during the period. Thrivent Financial For Lutherans raised its stake in Southwest Airlines by 35.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 4,150,288 shares of the airline’s stock worth $257,901,000 after acquiring an additional 1,090,189 shares during the period. Ameriprise Financial Inc. raised its stake in Southwest Airlines by 13.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,836,067 shares of the airline’s stock worth $549,016,000 after acquiring an additional 1,026,892 shares during the period. Wells Fargo & Company MN raised its stake in Southwest Airlines by 65.4% during the 2nd quarter. Wells Fargo & Company MN now owns 2,555,887 shares of the airline’s stock worth $158,823,000 after acquiring an additional 1,010,966 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in Southwest Airlines by 104.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,754,760 shares of the airline’s stock worth $98,219,000 after acquiring an additional 895,770 shares during the period. Hedge funds and other institutional investors own 78.87% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. Vetr cut shares of Southwest Airlines from a “buy” rating to a “hold” rating and set a $59.16 price objective on the stock. in a research report on Wednesday, October 4th. Wolfe Research upgraded shares of Southwest Airlines from a “market perform” rating to an “outperform” rating in a research report on Friday, August 18th. Barclays reiterated a “hold” rating and set a $61.00 price objective on shares of Southwest Airlines in a research report on Thursday, September 14th. Zacks Investment Research cut shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Finally, Raymond James Financial upgraded shares of Southwest Airlines from a “market perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research report on Wednesday, September 20th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company. Southwest Airlines presently has a consensus rating of “Buy” and an average price target of $66.89.
In other news, Director John T. Montford sold 935 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $53.94, for a total transaction of $50,433.90. Following the completion of the sale, the director now directly owns 25,000 shares of the company’s stock, valued at $1,348,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is currently owned by insiders.
Southwest Airlines Company (LUV) opened at $63.33 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.55 and a current ratio of 0.61. The company has a market cap of $37,579.26, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 2.10 and a beta of 1.34. Southwest Airlines Company has a one year low of $48.71 and a one year high of $64.39.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, October 26th. The airline reported $0.88 EPS for the quarter, topping the consensus estimate of $0.87 by $0.01. The company had revenue of $5.27 billion during the quarter, compared to analyst estimates of $5.29 billion. Southwest Airlines had a net margin of 10.12% and a return on equity of 24.85%. Southwest Airlines’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.93 earnings per share. equities analysts anticipate that Southwest Airlines Company will post 3.56 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Thursday, December 7th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Wednesday, December 6th. Southwest Airlines’s dividend payout ratio is currently 14.37%.
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About Southwest Airlines
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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