Marshall Wace North America L.P. lifted its holdings in Southwest Airlines Company (NYSE:LUV) by 912.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,855 shares of the airline’s stock after purchasing an additional 44,932 shares during the period. Marshall Wace North America L.P.’s holdings in Southwest Airlines were worth $3,091,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in LUV. Janney Montgomery Scott LLC grew its holdings in shares of Southwest Airlines by 1.4% in the first quarter. Janney Montgomery Scott LLC now owns 31,060 shares of the airline’s stock valued at $1,670,000 after purchasing an additional 436 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its holdings in Southwest Airlines by 1.1% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 15,748 shares of the airline’s stock worth $846,000 after acquiring an additional 171 shares in the last quarter. BB&T Corp grew its holdings in Southwest Airlines by 13.5% during the 1st quarter. BB&T Corp now owns 6,218 shares of the airline’s stock worth $334,000 after acquiring an additional 739 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in Southwest Airlines by 10.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 499,423 shares of the airline’s stock worth $26,849,000 after acquiring an additional 48,509 shares in the last quarter. Finally, Canal Capital Management LLC acquired a new position in shares of Southwest Airlines in the 1st quarter valued at $330,000. Hedge funds and other institutional investors own 79.42% of the company’s stock.
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In related news, Director William H. Dr Cunningham acquired 4,500 shares of the company’s stock in a transaction on Friday, August 11th. The stock was purchased at an average cost of $54.00 per share, with a total value of $243,000.00. Following the acquisition, the director now directly owns 66,969 shares of the company’s stock, valued at $3,616,326. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is owned by insiders.
Shares of Southwest Airlines Company (NYSE:LUV) traded up 0.68% on Friday, hitting $54.72. The stock had a trading volume of 14,576,105 shares. Southwest Airlines Company has a 52 week low of $36.31 and a 52 week high of $64.39. The company has a market cap of $32.75 billion, a PE ratio of 16.78 and a beta of 1.29. The stock’s 50-day moving average price is $53.74 and its 200 day moving average price is $56.91.
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, analysts predict that Southwest Airlines Company will post $3.73 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th were issued a $0.125 dividend. The ex-dividend date was Tuesday, August 22nd. This represents a $0.50 annualized dividend and a yield of 0.91%. Southwest Airlines’s dividend payout ratio is presently 15.34%.
Several research firms recently commented on LUV. Wolfe Research downgraded shares of Southwest Airlines from an “outperform” rating to a “market perform” rating and set a $63.00 price target for the company. in a research report on Monday, July 10th. They noted that the move was a valuation call. Morgan Stanley reiterated an “overweight” rating and issued a $66.00 price target (up previously from $65.00) on shares of Southwest Airlines in a report on Monday, July 10th. BidaskClub cut shares of Southwest Airlines from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Tuesday, July 4th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $70.00 price objective on shares of Southwest Airlines in a report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $67.77.
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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