Southwest Airlines Company (NYSE:LUV) Position Held by Clark Estates Inc. NY
Clark Estates Inc. NY maintained its stake in shares of Southwest Airlines Company (NYSE:LUV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 77,000 shares of the airline’s stock at the end of the second quarter. Southwest Airlines comprises approximately 0.8% of Clark Estates Inc. NY’s holdings, making the stock its 22nd largest position. Clark Estates Inc. NY’s holdings in Southwest Airlines were worth $4,785,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in LUV. National Pension Service purchased a new stake in shares of Southwest Airlines during the second quarter valued at approximately $141,000. Guardian Life Insurance Co. of America increased its stake in shares of Southwest Airlines by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 2,374 shares of the airline’s stock valued at $128,000 after buying an additional 15 shares during the period. Van ECK Associates Corp increased its stake in shares of Southwest Airlines by 6.6% in the first quarter. Van ECK Associates Corp now owns 2,502 shares of the airline’s stock valued at $135,000 after buying an additional 154 shares during the period. Farmers & Merchants Investments Inc. increased its stake in shares of Southwest Airlines by 2.9% in the second quarter. Farmers & Merchants Investments Inc. now owns 2,632 shares of the airline’s stock valued at $164,000 after buying an additional 75 shares during the period. Finally, TrimTabs Asset Management LLC increased its stake in shares of Southwest Airlines by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 2,821 shares of the airline’s stock valued at $152,000 after buying an additional 1,328 shares during the period. 80.34% of the stock is currently owned by institutional investors.
Southwest Airlines Company (LUV) opened at 54.01 on Friday. The stock has a market cap of $32.33 billion, a P/E ratio of 16.56 and a beta of 1.26. The company has a 50 day moving average of $59.77 and a 200-day moving average of $57.15. Southwest Airlines Company has a 12-month low of $36.05 and a 12-month high of $64.39.
Southwest Airlines (NYSE:LUV) last issued its earnings results on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.04. The firm had revenue of $5.74 billion for 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%. Southwest Airlines’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.19 earnings per share. Equities analysts forecast that Southwest Airlines Company will post $3.80 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be given a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.50 dividend on an annualized basis and a yield of 0.93%. Southwest Airlines’s dividend payout ratio is currently 15.34%.
Southwest Airlines announced that its Board of Directors has approved a share buyback plan on Wednesday, May 17th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the airline to buy up to 5.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Several brokerages recently commented on LUV. Zacks Investment Research downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. BidaskClub downgraded shares of Southwest Airlines from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Vetr raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $64.21 price objective on the stock in a research report on Tuesday, July 18th. Sanford C. Bernstein reissued an “outperform” rating and set a $70.00 price objective on shares of Southwest Airlines in a research report on Thursday, July 13th. Finally, Cowen and Company reissued a “buy” rating and set a $67.00 price objective on shares of Southwest Airlines in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $65.78.
In related news, EVP Jeff Lamb sold 19,800 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $61.00, for a total value of $1,207,800.00. Following the sale, the executive vice president now owns 92,468 shares in the company, valued at $5,640,548. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Gary C. Kelly sold 51,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $57.06, for a total value of $2,910,060.00. Following the completion of the sale, the chairman now owns 556,808 shares in the company, valued at approximately $31,771,464.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 118,740 shares of company stock worth $6,923,568. 0.21% of the stock is owned by insiders.
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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