Westside Investment Management Inc. bought a new position in shares of Southwest Airlines Co (NYSE:LUV) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,198 shares of the airline’s stock, valued at approximately $60,000.
Several other institutional investors also recently made changes to their positions in the company. Ballentine Partners LLC raised its position in shares of Southwest Airlines by 4.3% during the first quarter. Ballentine Partners LLC now owns 4,802 shares of the airline’s stock worth $250,000 after purchasing an additional 199 shares during the period. Haverford Financial Services Inc. raised its position in Southwest Airlines by 1.2% during the first quarter. Haverford Financial Services Inc. now owns 16,400 shares of the airline’s stock valued at $851,000 after buying an additional 200 shares during the period. Raymond James Trust N.A. raised its position in Southwest Airlines by 2.1% during the first quarter. Raymond James Trust N.A. now owns 10,238 shares of the airline’s stock valued at $532,000 after buying an additional 209 shares during the period. FDx Advisors Inc. raised its position in Southwest Airlines by 4.6% during the second quarter. FDx Advisors Inc. now owns 4,905 shares of the airline’s stock valued at $249,000 after buying an additional 216 shares during the period. Finally, Piedmont Investment Advisors Inc. raised its position in Southwest Airlines by 0.6% during the first quarter. Piedmont Investment Advisors Inc. now owns 34,286 shares of the airline’s stock valued at $1,780,000 after buying an additional 217 shares during the period. 83.45% of the stock is currently owned by institutional investors.
Several research analysts recently weighed in on LUV shares. Cowen reissued a “market perform” rating and set a $57.00 price target (up from $55.00) on shares of Southwest Airlines in a research report on Friday, July 26th. ValuEngine raised Southwest Airlines from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Zacks Investment Research lowered Southwest Airlines from a “hold” rating to a “sell” rating in a research report on Thursday, May 16th. Argus reissued a “buy” rating on shares of Southwest Airlines in a research report on Wednesday, May 1st. Finally, Imperial Capital reissued 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. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $57.52.
Southwest Airlines (NYSE:LUV) last issued its earnings results on Thursday, July 25th. The airline reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.02. Southwest Airlines had a return on equity of 24.12% and a net margin of 10.73%. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same period in the prior year, the firm posted $1.26 EPS. The business’s revenue was up 2.9% compared to the same quarter last year. As a group, equities analysts anticipate that Southwest Airlines Co will post 4.37 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.72 annualized dividend and a dividend yield of 1.46%. Southwest Airlines’s dividend payout ratio (DPR) is presently 16.98%.
Southwest Airlines 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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