BlackRock Inc. lifted its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 7.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,979,037 shares of the transportation company’s stock after buying an additional 470,480 shares during the period. BlackRock Inc. owned 13.41% of SkyWest worth $362,211,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the stock. Wells Fargo & Company MN grew its position in shares of SkyWest by 35.3% during the 2nd quarter. Wells Fargo & Company MN now owns 560,197 shares of the transportation company’s stock valued at $29,074,000 after buying an additional 146,264 shares during the last quarter. Allianz Asset Management GmbH grew its position in shares of SkyWest by 2.9% during the 1st quarter. Allianz Asset Management GmbH now owns 507,534 shares of the transportation company’s stock valued at $27,610,000 after buying an additional 14,119 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of SkyWest by 3.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 486,815 shares of the transportation company’s stock valued at $25,266,000 after buying an additional 16,932 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of SkyWest by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 404,411 shares of the transportation company’s stock valued at $22,000,000 after buying an additional 11,114 shares during the last quarter. Finally, Copper Rock Capital Partners LLC bought a new stake in shares of SkyWest during the 2nd quarter valued at about $19,399,000. 89.18% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on SKYW shares. Zacks Investment Research raised shares of SkyWest from a “sell” rating to a “hold” rating and set a $69.00 price objective for the company in a research report on Monday, July 30th. BidaskClub lowered shares of SkyWest from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Cowen boosted their target price on shares of SkyWest from $63.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday, July 27th. ValuEngine lowered shares of SkyWest from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Finally, Imperial Capital boosted their target price on shares of SkyWest from $60.00 to $63.00 and gave the company an “inline” rating in a research note on Monday, July 30th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $63.60.
In other news, insider Eric Woodward sold 5,879 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $61.18, for a total value of $359,677.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Terry Vais sold 1,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $64.43, for a total transaction of $103,088.00. The disclosure for this sale can be found here. Insiders have sold a total of 107,455 shares of company stock valued at $6,468,863 over the last three months. 3.50% of the stock is currently owned by company insiders.
SkyWest stock opened at $61.50 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.11 and a debt-to-equity ratio of 1.41. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 17.94 and a beta of 1.65. SkyWest, Inc. has a 52-week low of $37.10 and a 52-week high of $65.80.
SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, July 26th. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.20. The firm had revenue of $805.50 million during the quarter, compared to analyst estimates of $795.19 million. SkyWest had a net margin of 14.73% and a return on equity of 13.20%. SkyWest’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 EPS. equities analysts forecast that SkyWest, Inc. will post 4.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 4th. Shareholders of record on Friday, September 28th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Thursday, September 27th. SkyWest’s payout ratio is 11.66%.
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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