Bank of Montreal Can reduced its holdings in shares of Southwest Airlines Co (NYSE:LUV) by 3.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,623,604 shares of the airline’s stock after selling 208,995 shares during the period. Bank of Montreal Can owned about 0.98% of Southwest Airlines worth $351,192,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Norman Fields Gottscho Capital Management LLC boosted its position in shares of Southwest Airlines by 1.9% during the 3rd quarter. Norman Fields Gottscho Capital Management LLC now owns 45,180 shares of the airline’s stock valued at $2,821,000 after acquiring an additional 855 shares in the last quarter. AE Wealth Management LLC boosted its position in shares of Southwest Airlines by 19.0% during the 2nd quarter. AE Wealth Management LLC now owns 5,432 shares of the airline’s stock valued at $276,000 after acquiring an additional 869 shares in the last quarter. Lucia Wealth Services LLC boosted its position in shares of Southwest Airlines by 22.7% during the 2nd quarter. Lucia Wealth Services LLC now owns 4,854 shares of the airline’s stock valued at $247,000 after acquiring an additional 898 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Southwest Airlines by 0.4% during the 2nd quarter. CIBC Asset Management Inc now owns 228,478 shares of the airline’s stock valued at $11,625,000 after acquiring an additional 956 shares in the last quarter. Finally, Telos Capital Management Inc. boosted its position in shares of Southwest Airlines by 2.9% during the 2nd quarter. Telos Capital Management Inc. now owns 34,775 shares of the airline’s stock valued at $1,769,000 after acquiring an additional 972 shares in the last quarter. Institutional investors and hedge funds own 77.99% of the company’s stock.
A number of equities analysts have commented on the stock. ValuEngine upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating in a research report on Monday, September 17th. Macquarie raised shares of Southwest Airlines to an “outperform” rating in a research note on Tuesday, September 18th. Imperial Capital reaffirmed an “outperform” rating and issued a $66.00 target price (up from $60.00) on shares of Southwest Airlines in a research note on Thursday, September 27th. Zacks Investment Research downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Finally, Buckingham Research boosted their price target on shares of Southwest Airlines from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $69.30.
In other news, Director John T. Montford sold 430 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $58.27, for a total value of $25,056.10. Following the completion of the transaction, the director now owns 23,853 shares in the company, valued at $1,389,914.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew M. Watterson sold 6,130 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The shares were 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 owns 16,597 shares of the company’s stock, valued at approximately $983,870.16. The disclosure for this sale can be found here. Insiders sold 11,470 shares of company stock valued at $674,941 in the last quarter. Corporate insiders own 0.23% of the company’s stock.
NYSE:LUV traded up $0.37 during trading hours on Friday, hitting $57.40. The stock had a trading volume of 386,477 shares, compared to its average volume of 5,164,446. Southwest Airlines Co has a one year low of $49.93 and a one year high of $66.99. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.64 and a current ratio of 0.70. The company has a market capitalization of $35.79 billion, a PE ratio of 16.29, a PEG ratio of 1.24 and a beta of 1.06.
Southwest Airlines (NYSE:LUV) last issued its earnings results on Thursday, July 26th. The airline reported $1.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.03. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.75 billion. Southwest Airlines had a net margin of 16.90% and a return on equity of 22.16%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 earnings per share. On average, sell-side analysts forecast that Southwest Airlines Co will post 4.2 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 12th. Stockholders of record on Wednesday, August 22nd were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Tuesday, August 21st. Southwest Airlines’s dividend payout ratio (DPR) is presently 18.29%.
About Southwest Airlines
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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