Prudential Financial Inc. grew its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 6.4% during the third quarter, Holdings Channel reports. The fund owned 436,180 shares of the transportation company’s stock after purchasing an additional 26,194 shares during the quarter. Prudential Financial Inc.’s holdings in SkyWest were worth $25,691,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of SKYW. BlackRock Inc. boosted its holdings in SkyWest by 7.2% during the 2nd quarter. BlackRock Inc. now owns 6,979,037 shares of the transportation company’s stock worth $362,211,000 after acquiring an additional 470,480 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in SkyWest by 10.1% during the 2nd quarter. Renaissance Technologies LLC now owns 2,160,068 shares of the transportation company’s stock worth $112,108,000 after acquiring an additional 199,000 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in SkyWest by 26.5% during the 3rd quarter. Wells Fargo & Company MN now owns 708,396 shares of the transportation company’s stock worth $41,724,000 after acquiring an additional 148,199 shares during the last quarter. Copper Rock Capital Partners LLC boosted its holdings in SkyWest by 25.6% during the 3rd quarter. Copper Rock Capital Partners LLC now owns 477,771 shares of the transportation company’s stock worth $28,260,000 after acquiring an additional 97,401 shares during the last quarter. Finally, RWC Asset Management LLP boosted its holdings in SkyWest by 24.5% during the 3rd quarter. RWC Asset Management LLP now owns 400,000 shares of the transportation company’s stock worth $23,560,000 after acquiring an additional 78,628 shares during the last quarter. 89.99% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the stock. BidaskClub downgraded shares of SkyWest from a “sell” rating to a “strong sell” rating in a report on Friday, October 5th. Evercore ISI raised shares of SkyWest from an “in-line” rating to an “outperform” rating and set a $65.00 price objective on the stock in a report on Wednesday, October 31st. Imperial Capital reaffirmed an “in-line” rating and set a $58.00 price objective on shares of SkyWest in a report on Friday, November 2nd. Zacks Investment Research raised shares of SkyWest from a “sell” rating to a “hold” rating and set a $69.00 price objective on the stock in a report on Monday, July 30th. Finally, ValuEngine downgraded shares of SkyWest from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. SkyWest has an average rating of “Buy” and a consensus target price of $65.57.
SkyWest (NASDAQ:SKYW) last released its earnings results on Tuesday, October 30th. The transportation company reported $1.57 EPS for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.17. The company had revenue of $829.00 million for the quarter, compared to analysts’ expectations of $825.57 million. SkyWest had a return on equity of 13.99% and a net margin of 15.65%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.01 EPS. As a group, sell-side analysts forecast that SkyWest, Inc. will post 5.09 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 7th. Stockholders of record on Monday, December 31st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend is Friday, December 28th. SkyWest’s payout ratio is 11.66%.
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SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.
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