Southwest Airlines Co (NYSE:LUV) Stock Position Raised by Provident Trust Co.

Provident Trust Co. boosted its stake in Southwest Airlines Co (NYSE:LUV) by 5.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,924,630 shares of the airline’s stock after purchasing an additional 205,435 shares during the quarter. Southwest Airlines comprises approximately 6.8% of Provident Trust Co.’s portfolio, making the stock its 8th biggest holding. Provident Trust Co. owned approximately 0.72% of Southwest Airlines worth $199,293,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Boston Partners raised its stake in Southwest Airlines by 13.9% in the first quarter. Boston Partners now owns 9,998,417 shares of the airline’s stock valued at $519,018,000 after purchasing an additional 1,219,028 shares in the last quarter. Geode Capital Management LLC grew its position in Southwest Airlines by 13.7% during the fourth quarter. Geode Capital Management LLC now owns 6,706,799 shares of the airline’s stock valued at $311,306,000 after acquiring an additional 809,418 shares during the last quarter. Bank of Montreal Can grew its position in Southwest Airlines by 5.9% during the first quarter. Bank of Montreal Can now owns 6,137,619 shares of the airline’s stock valued at $318,604,000 after acquiring an additional 340,516 shares during the last quarter. Northern Trust Corp grew its position in Southwest Airlines by 3.9% during the first quarter. Northern Trust Corp now owns 5,507,833 shares of the airline’s stock valued at $285,912,000 after acquiring an additional 204,758 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Southwest Airlines by 37.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,920,617 shares of the airline’s stock valued at $228,736,000 after acquiring an additional 1,348,168 shares during the last quarter. 84.25% of the stock is currently owned by institutional investors and hedge funds.

Shares of Southwest Airlines stock traded down $1.37 on Wednesday, hitting $48.55. The stock had a trading volume of 108,203 shares, compared to its average volume of 4,368,418. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.59 and a current ratio of 0.64. Southwest Airlines Co has a one year low of $44.28 and a one year high of $64.02. The firm has a market cap of $27.12 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 1.09 and a beta of 1.50. The firm has a 50-day moving average of $51.75.

Southwest Airlines (NYSE:LUV) last issued its earnings results on Thursday, July 25th. The airline reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.02. Southwest Airlines had a net margin of 10.73% and a return on equity of 24.12%. The firm had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter last year, the business earned $1.26 earnings per share. The business’s revenue was up 2.9% on a year-over-year basis. On average, equities analysts anticipate that Southwest Airlines Co will post 4.35 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Wednesday, August 21st will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Tuesday, August 20th. Southwest Airlines’s dividend payout ratio is 16.98%.

LUV has been the topic of a number of recent research reports. Argus cut shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Tuesday. Imperial Capital reiterated an “in-line” rating and set a $55.00 price target (up from $52.00) on shares of Southwest Airlines in a research report on Friday, April 26th. Barclays reduced their price target on shares of Southwest Airlines from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. ValuEngine upgraded shares of Southwest Airlines from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Finally, Morgan Stanley reiterated a “buy” rating and set a $59.00 price target (down from $64.00) on shares of Southwest Airlines in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $57.16.

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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Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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