Merit Financial Group LLC purchased a new position in Southwest Airlines Co (NYSE:LUV) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 5,734 shares of the airline’s stock, valued at approximately $375,000.
Several other institutional investors have also modified their holdings of the company. Maverick Capital Ltd. grew its holdings in Southwest Airlines by 134.1% during the fourth quarter. Maverick Capital Ltd. now owns 99,420 shares of the airline’s stock valued at $6,507,000 after purchasing an additional 56,960 shares during the period. State of Alaska Department of Revenue boosted its holdings in Southwest Airlines by 162.0% during the fourth quarter. State of Alaska Department of Revenue now owns 83,494 shares of the airline’s stock worth $5,462,000 after purchasing an additional 51,620 shares during the last quarter. Advanced Asset Management Advisors Inc acquired a new position in Southwest Airlines during the fourth quarter worth $995,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Southwest Airlines by 14.6% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 89,727 shares of the airline’s stock worth $5,023,000 after acquiring an additional 11,398 shares in the last quarter. Finally, Kalos Management Inc. bought a new stake in Southwest Airlines during the third quarter worth $2,328,000. Institutional investors and hedge funds own 80.05% of the company’s stock.
Several equities analysts have recently weighed in on LUV shares. Stifel Nicolaus reissued a “buy” rating and issued a $85.00 price objective (up from $80.00) on shares of Southwest Airlines in a research report on Wednesday, January 10th. Vetr upgraded shares of Southwest Airlines from a “sell” rating to a “hold” rating and set a $65.81 price target on the stock in a research note on Monday, January 1st. JPMorgan Chase & Co. lowered shares of Southwest Airlines from an “overweight” rating to a “neutral” rating and set a $70.00 price objective for the company. in a report on Tuesday, January 30th. Zacks Investment Research upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Tuesday, January 30th. Finally, Cowen reiterated a “buy” rating and issued a $67.00 price objective on shares of Southwest Airlines in a research note on Tuesday, January 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. Southwest Airlines currently has an average rating of “Buy” and an average price target of $67.83.
In other Southwest Airlines news, EVP Gregory D. Wells sold 8,323 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $58.88, for a total value of $490,058.24. Following the transaction, the executive vice president now directly owns 30,262 shares of the company’s stock, valued at $1,781,826.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO De Ven Michael G. Van sold 31,099 shares of the firm’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $57.35, for a total value of $1,783,527.65. Following the completion of the transaction, the chief operating officer now directly owns 172,883 shares in the company, valued at $9,914,840.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 131,404 shares of company stock worth $7,815,689. Insiders own 0.21% of the company’s stock.
Southwest Airlines Co (NYSE:LUV) traded down $0.71 during trading hours on Wednesday, hitting $59.62. The stock had a trading volume of 4,682,037 shares, compared to its average volume of 5,083,166. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.64 and a current ratio of 0.70. The stock has a market capitalization of $35,135.95, a price-to-earnings ratio of 10.24, a PEG ratio of 1.50 and a beta of 1.20. Southwest Airlines Co has a 52-week low of $49.76 and a 52-week high of $66.99.
Southwest Airlines (NYSE:LUV) last announced its earnings results on Thursday, January 25th. The airline reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. The company had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.25 billion. Southwest Airlines had a return on equity of 23.43% and a net margin of 16.48%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 earnings per share. equities research analysts forecast that Southwest Airlines Co will post 4.96 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, March 7th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.84%. Southwest Airlines’s dividend payout ratio is currently 8.59%.
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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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