Laurel Grove Capital LLC raised its stake in Southwest Airlines Co (NYSE:LUV) by 101.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,550 shares of the airline’s stock after acquiring an additional 13,350 shares during the quarter. Laurel Grove Capital LLC’s holdings in Southwest Airlines were worth $1,658,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Koch Industries Inc. bought a new stake in shares of Southwest Airlines in the first quarter valued at approximately $431,000. Salem Investment Counselors Inc. raised its position in shares of Southwest Airlines by 3,172.6% in the second quarter. Salem Investment Counselors Inc. now owns 22,843 shares of the airline’s stock valued at $1,162,000 after purchasing an additional 22,145 shares during the period. Wills Financial Group Inc. bought a new stake in shares of Southwest Airlines in the second quarter valued at approximately $1,222,000. Independent Advisor Alliance bought a new stake in shares of Southwest Airlines in the second quarter valued at approximately $366,000. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of Southwest Airlines by 5.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 68,870 shares of the airline’s stock valued at $3,504,000 after purchasing an additional 3,593 shares during the period. Hedge funds and other institutional investors own 77.99% of the company’s stock.
Several analysts have recently issued reports on LUV shares. Morgan Stanley reissued a “buy” rating on shares of Southwest Airlines in a research report on Tuesday, August 14th. Macquarie set a $71.00 price target on shares of Southwest Airlines and gave the company a “buy” rating in a research report on Monday, September 17th. Buckingham Research boosted their price target on shares of Southwest Airlines from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, September 7th. Argus raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research report on Friday, September 7th. Finally, Stephens set a $69.00 price target on shares of Southwest Airlines and gave the company a “buy” rating in a research report on Friday, July 27th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $69.30.
In other news, SVP Mark R. Shaw sold 4,910 shares of the stock in a transaction on Monday, July 30th. The shares were sold at an average price of $58.35, for a total value of $286,498.50. Following the transaction, the senior vice president now owns 11,546 shares of the company’s stock, valued at approximately $673,709.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrew M. Watterson sold 6,130 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $59.28, for a total transaction of $363,386.40. Following the completion of the transaction, the executive vice president now directly owns 16,597 shares in the company, valued at approximately $983,870.16. The disclosure for this sale can be found here. Insiders have sold a total of 11,470 shares of company stock worth $674,941 in the last ninety days. 0.23% of the stock is currently owned by insiders.
Southwest Airlines stock traded up $0.32 during midday trading on Friday, reaching $57.35. 401,390 shares of the stock were exchanged, compared to its average volume of 5,164,446. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $35.79 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. Southwest Airlines Co has a 52 week low of $49.93 and a 52 week high of $66.99.
Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, July 26th. The airline reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.03. The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.75 billion. Southwest Airlines had a net margin of 16.90% and a return on equity of 22.16%. Southwest Airlines’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.24 EPS. Research analysts forecast that Southwest Airlines Co will post 4.2 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 12th. Investors of record on Wednesday, August 22nd were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend was Tuesday, August 21st. Southwest Airlines’s dividend payout ratio (DPR) is presently 18.29%.
Southwest Airlines 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, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 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.
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