Retirement Systems of Alabama trimmed its holdings in Southwest Airlines Company (NYSE:LUV) by 4.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 587,163 shares of the airline’s stock after selling 26,012 shares during the quarter. Retirement Systems of Alabama owned about 0.10% of Southwest Airlines worth $32,869,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in LUV. Boston Partners lifted its stake in Southwest Airlines by 101.7% in the 3rd quarter. Boston Partners now owns 4,980,739 shares of the airline’s stock worth $278,822,000 after purchasing an additional 2,511,258 shares in the last quarter. Thrivent Financial For Lutherans lifted its stake in Southwest Airlines by 35.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 4,150,288 shares of the airline’s stock worth $257,901,000 after purchasing an additional 1,090,189 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Southwest Airlines by 13.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,836,067 shares of the airline’s stock worth $549,016,000 after purchasing an additional 1,026,892 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Southwest Airlines by 65.4% in the 2nd quarter. Wells Fargo & Company MN now owns 2,555,887 shares of the airline’s stock worth $158,823,000 after purchasing an additional 1,010,966 shares in the last quarter. Finally, APG Asset Management N.V. lifted its stake in Southwest Airlines by 16.8% in the 3rd quarter. APG Asset Management N.V. now owns 4,592,536 shares of the airline’s stock worth $257,090,000 after purchasing an additional 660,500 shares in the last quarter. 80.15% of the stock is currently owned by institutional investors and hedge funds.
In other Southwest Airlines news, Director John T. Montford sold 935 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $53.94, for a total value of $50,433.90. Following the completion of the transaction, the director now owns 25,000 shares of the company’s stock, valued at approximately $1,348,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.21% of the company’s stock.
A number of research firms have weighed in on LUV. Zacks Investment Research raised shares of Southwest Airlines from a “sell” rating to a “hold” rating in a research note on Thursday. Vetr upgraded shares of Southwest Airlines from a “sell” rating to a “buy” rating and set a $55.93 price target for the company in a report on Monday. Wolfe Research upgraded shares of Southwest Airlines from a “market perform” rating to an “outperform” rating in a report on Friday, August 18th. Stifel Nicolaus restated a “buy” rating and set a $80.00 price target on shares of Southwest Airlines in a report on Wednesday, November 1st. Finally, Barclays PLC restated a “hold” rating and set a $61.00 price target on shares of Southwest Airlines in a report on Thursday, September 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the stock. Southwest Airlines currently has an average rating of “Buy” and an average price target of $67.00.
Shares of Southwest Airlines Company (LUV) traded up $0.03 during mid-day trading on Monday, reaching $53.49. 2,485,900 shares of the company’s stock traded hands, compared to its average volume of 5,246,054. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.61 and a quick ratio of 0.55. Southwest Airlines Company has a 52 week low of $42.99 and a 52 week high of $64.39. The stock has a market cap of $31,740.00, a PE ratio of 15.41, a PEG ratio of 1.77 and a beta of 1.31.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings results on Thursday, October 26th. The airline reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.01. Southwest Airlines had a net margin of 10.12% and a return on equity of 24.85%. The company had revenue of $5.27 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter last year, the company posted $0.93 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. sell-side analysts predict that Southwest Airlines Company will post 3.56 earnings per share for the current fiscal year.
Southwest Airlines Profile
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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