Russell Investments Group Ltd. boosted its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 63.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 93,622 shares of the transportation company’s stock after acquiring an additional 36,291 shares during the period. Russell Investments Group Ltd.’s holdings in SkyWest were worth $5,674,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. grew its holdings in SkyWest by 0.6% during the 1st quarter. BlackRock Inc. now owns 7,543,573 shares of the transportation company’s stock worth $409,541,000 after acquiring an additional 44,690 shares in the last quarter. Wells Fargo & Company MN grew its holdings in SkyWest by 11.3% during the 2nd quarter. Wells Fargo & Company MN now owns 798,247 shares of the transportation company’s stock worth $48,431,000 after acquiring an additional 80,725 shares in the last quarter. Rothschild & Co. Asset Management US Inc. grew its holdings in SkyWest by 1.6% during the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 764,062 shares of the transportation company’s stock worth $46,356,000 after acquiring an additional 11,680 shares in the last quarter. Geode Capital Management LLC grew its holdings in SkyWest by 9.4% during the 4th quarter. Geode Capital Management LLC now owns 595,894 shares of the transportation company’s stock worth $26,499,000 after acquiring an additional 50,969 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its holdings in SkyWest by 10.6% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 554,801 shares of the transportation company’s stock worth $30,120,000 after acquiring an additional 53,200 shares in the last quarter. Institutional investors own 90.34% of the company’s stock.
SKYW has been the subject of several analyst reports. Evercore ISI reiterated a “buy” rating and set a $72.00 price target on shares of SkyWest in a report on Thursday, August 8th. ValuEngine cut shares of SkyWest from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Finally, BidaskClub downgraded shares of SkyWest from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. SkyWest has an average rating of “Buy” and an average target price of $67.63.
SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Wednesday, July 31st. The transportation company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.60 by $0.11. SkyWest had a net margin of 10.53% and a return on equity of 15.47%. The firm had revenue of $725.34 million during the quarter, compared to the consensus estimate of $736.71 million. During the same quarter in the prior year, the firm earned $1.43 EPS. SkyWest’s revenue for the quarter was down 10.0% on a year-over-year basis. As a group, equities analysts forecast that SkyWest, Inc. will post 6.18 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Monday, September 30th will be given a $0.12 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.48 annualized dividend and a yield of 0.78%. SkyWest’s dividend payout ratio (DPR) is 9.06%.
SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.
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