DNB Asset Management AS boosted its holdings in Southwest Airlines Co (NYSE:LUV) by 2.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,266 shares of the airline’s stock after acquiring an additional 436 shares during the quarter. DNB Asset Management AS’s holdings in Southwest Airlines were worth $1,052,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Somerset Trust Co lifted its position in Southwest Airlines by 185.5% in the 1st quarter. Somerset Trust Co now owns 688 shares of the airline’s stock valued at $36,000 after acquiring an additional 447 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Southwest Airlines during the 4th quarter worth approximately $33,000. Cordasco Financial Network bought a new position in shares of Southwest Airlines during the 4th quarter worth approximately $37,000. Intercontinental Wealth Advisors LLC bought a new position in shares of Southwest Airlines during the 4th quarter worth approximately $44,000. Finally, Athena Capital Advisors LLC bought a new position in shares of Southwest Airlines during the 4th quarter worth approximately $45,000. 81.19% of the stock is currently owned by institutional investors and hedge funds.
LUV has been the topic of several recent analyst reports. Goldman Sachs Group cut shares of Southwest Airlines from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $66.00 to $54.00 in a research report on Wednesday, February 20th. Cowen cut shares of Southwest Airlines from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $65.00 to $54.00 in a research report on Thursday, January 10th. ValuEngine cut shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. Raymond James cut shares of Southwest Airlines from an “outperform” rating to a “market perform” rating and set a $53.25 target price on the stock. in a research report on Monday, April 8th. Finally, Imperial Capital reissued an “in-line” rating and set a $58.00 target price (down previously from $60.00) on shares of Southwest Airlines in a research report on Thursday, February 21st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $58.77.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, January 24th. The airline reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. Southwest Airlines had a net margin of 11.22% and a return on equity of 24.56%. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same period in the previous year, the business earned $0.77 EPS. Southwest Airlines’s revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts expect that Southwest Airlines Co will post 4.78 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were paid a $0.16 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.64 dividend on an annualized basis and a yield of 1.23%. Southwest Airlines’s dividend payout ratio is 15.09%.
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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.
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