Qube Research & Technologies Ltd purchased a new stake in shares of Southwest Airlines Co (NYSE:LUV) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 30,497 shares of the airline’s stock, valued at approximately $1,549,000.
Other institutional investors also recently bought and sold shares of the company. Boston Partners boosted its holdings in Southwest Airlines by 13.9% in the first quarter. Boston Partners now owns 9,998,417 shares of the airline’s stock worth $519,018,000 after purchasing an additional 1,219,028 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Southwest Airlines by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 6,706,799 shares of the airline’s stock worth $311,306,000 after purchasing an additional 809,418 shares in the last quarter. Bank of Montreal Can boosted its holdings in Southwest Airlines by 5.9% in the first quarter. Bank of Montreal Can now owns 6,137,619 shares of the airline’s stock worth $318,604,000 after purchasing an additional 340,516 shares in the last quarter. Northern Trust Corp boosted its holdings in Southwest Airlines by 3.9% in the first quarter. Northern Trust Corp now owns 5,507,833 shares of the airline’s stock worth $285,912,000 after purchasing an additional 204,758 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Southwest Airlines by 37.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,920,617 shares of the airline’s stock worth $228,736,000 after purchasing an additional 1,348,168 shares in the last quarter. Institutional investors and hedge funds own 84.25% of the company’s stock.
A number of brokerages recently issued reports on LUV. Wolfe Research upgraded shares of Southwest Airlines from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a report on Friday. Morgan Stanley decreased their price objective on shares of Southwest Airlines from $64.00 to $59.00 and set an “overweight” rating for the company in a report on Wednesday. Cowen reiterated a “market perform” rating and issued a $57.00 price objective (up from $55.00) on shares of Southwest Airlines in a report on Friday, July 26th. Imperial Capital reiterated an “in-line” rating and issued a $55.00 price objective (up from $52.00) on shares of Southwest Airlines in a report on Friday, April 26th. Finally, Argus cut shares of Southwest Airlines from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $57.15.
Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, July 25th. The airline reported $1.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.02. The firm had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.94 billion. Southwest Airlines had a net margin of 10.73% and a return on equity of 24.12%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 EPS. Equities analysts anticipate that Southwest Airlines Co will post 4.29 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Wednesday, August 21st will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Tuesday, August 20th. Southwest Airlines’s dividend payout ratio is 16.98%.
Southwest Airlines Company Profile
Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.
Recommended Story: The components of the Stochastic Momentum Index
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 Co (NYSE:LUV).
Receive News & Ratings for Southwest Airlines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines and related companies with MarketBeat.com's FREE daily email newsletter.