Tdam USA Inc. purchased a new stake in Southwest Airlines Company (NYSE:LUV) during the second quarter, Holdings Channel reports. The institutional investor purchased 3,531 shares of the airline’s stock, valued at approximately $218,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Deschutes Portfolio Strategy LLC acquired a new position in shares of Southwest Airlines during the first quarter valued at approximately $283,000. Nisa Investment Advisors LLC increased its position in shares of Southwest Airlines by 5.3% in the first quarter. Nisa Investment Advisors LLC now owns 272,607 shares of the airline’s stock valued at $14,654,000 after buying an additional 13,603 shares in the last quarter. Boston Advisors LLC acquired a new position in shares of Southwest Airlines during the first quarter valued at approximately $2,454,000. DnB Asset Management AS acquired a new position in shares of Southwest Airlines during the first quarter valued at approximately $697,000. Finally, Palisade Capital Management LLC NJ acquired a new position in shares of Southwest Airlines during the first quarter valued at approximately $269,000. 80.34% of the stock is currently owned by institutional investors.

Shares of Southwest Airlines Company (LUV) opened at 54.01 on Friday. The firm has a 50-day moving average price of $59.77 and a 200-day moving average price of $57.15. The company has a market capitalization of $32.33 billion, a PE ratio of 16.56 and a beta of 1.26. Southwest Airlines Company has a 12 month low of $36.05 and a 12 month high of $64.39.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Thursday, July 27th. The airline reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.04. The business had revenue of $5.74 billion during the quarter, compared to analysts’ expectations 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 last year, the firm posted $1.19 EPS. On average, equities research analysts predict that Southwest Airlines Company will post $3.80 EPS for the current year.

Southwest Airlines declared that its board has approved a share buyback program on Wednesday, May 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the airline to reacquire up to 5.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.50 annualized dividend and a yield of 0.93%. Southwest Airlines’s payout ratio is currently 15.34%.

TRADEMARK VIOLATION NOTICE: “Tdam USA Inc. Takes Position in Southwest Airlines Company (LUV)” was published by Watch List News and is the property of of Watch List News. If you are reading this piece on another domain, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The legal version of this piece can be read at https://www.watchlistnews.com/tdam-usa-inc-takes-position-in-southwest-airlines-company-luv/1473005.html.

Several research analysts have commented on the company. Wolfe Research downgraded Southwest Airlines from an “outperform” rating to a “market perform” rating and set a $63.00 price target on the stock. in a research report on Monday, July 10th. They noted that the move was a valuation call. Morgan Stanley reaffirmed an “overweight” rating and issued a $66.00 price target (up from $65.00) on shares of Southwest Airlines in a research report on Monday, July 10th. BidaskClub downgraded Southwest Airlines from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research raised Southwest Airlines from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Tuesday, July 4th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Southwest Airlines in a research report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $65.78.

In other Southwest Airlines news, CFO Tammy Romo sold 8,322 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $59.15, for a total transaction of $492,246.30. Following the transaction, the chief financial officer now owns 87,387 shares in the company, valued at approximately $5,168,941.05. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Gary C. Kelly sold 51,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $57.06, for a total value of $2,910,060.00. Following the transaction, 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. Over the last three months, insiders have sold 118,740 shares of company stock valued at $6,923,568. 0.21% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding LUV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southwest Airlines Company (NYSE:LUV).

Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

Receive News & Ratings for Southwest Airlines Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines Company and related companies with Analyst Ratings Network's FREE daily email newsletter.