V Wealth Management LLC raised its position in shares of Southwest Airlines Company (NYSE:LUV) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,336 shares of the airline’s stock after buying an additional 237 shares during the period. Southwest Airlines accounts for 1.3% of V Wealth Management LLC’s holdings, making the stock its 9th largest position. V Wealth Management LLC’s holdings in Southwest Airlines were worth $2,877,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Southwest Airlines by 0.7% in the first quarter. Vanguard Group Inc. now owns 38,498,787 shares of the airline’s stock worth $2,069,695,000 after buying an additional 286,456 shares in the last quarter. BlackRock Inc. boosted its position in shares of Southwest Airlines by 4,163.3% in the first quarter. BlackRock Inc. now owns 34,983,319 shares of the airline’s stock worth $1,880,703,000 after buying an additional 34,162,752 shares in the last quarter. State Street Corp boosted its position in shares of Southwest Airlines by 1.5% in the first quarter. State Street Corp now owns 23,480,558 shares of the airline’s stock worth $1,262,308,000 after buying an additional 353,960 shares in the last quarter. Egerton Capital UK LLP boosted its position in shares of Southwest Airlines by 39.0% in the first quarter. Egerton Capital UK LLP now owns 9,401,341 shares of the airline’s stock worth $505,416,000 after buying an additional 2,638,743 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Southwest Airlines by 80.3% in the first quarter. Ameriprise Financial Inc. now owns 7,809,175 shares of the airline’s stock worth $419,796,000 after buying an additional 3,477,912 shares in the last quarter. 80.34% of the stock is owned by institutional investors.
Southwest Airlines Company (NYSE:LUV) opened at 54.14 on Friday. The firm has a market capitalization of $32.41 billion, a price-to-earnings ratio of 16.60 and a beta of 1.26. The stock has a 50 day moving average price of $59.56 and a 200 day moving average price of $57.18. Southwest Airlines Company has a 1-year low of $36.05 and a 1-year high of $64.39.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.04. Southwest Airlines had a return on equity of 26.07% and a net margin of 9.63%. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter last year, the company earned $1.19 EPS. The company’s quarterly revenue was up 6.7% on a year-over-year basis. Analysts predict that Southwest Airlines Company will post $3.80 EPS for the current year.
Southwest Airlines announced that its Board of Directors has approved a share buyback program on Wednesday, May 17th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the airline to buy up to 5.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be given a $0.125 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.92%. Southwest Airlines’s dividend payout ratio is currently 15.34%.
LUV has been the subject of a number of research analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $80.00 price target on shares of Southwest Airlines in a research report on Friday, May 26th. Deutsche Bank AG lifted their price objective on Southwest Airlines from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. ValuEngine upgraded Southwest Airlines from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Tuesday, May 30th. Finally, Vetr upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $63.80 price objective for the company in a research report on Monday, June 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $65.78.
In other Southwest Airlines news, SVP Mark R. Shaw sold 3,823 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $59.13, for a total value of $226,053.99. Following the completion of the sale, the senior vice president now owns 7,784 shares in the company, valued at approximately $460,267.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeff Lamb sold 19,800 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $61.00, for a total value of $1,207,800.00. Following the completion of the sale, the executive vice president now owns 92,468 shares of the company’s stock, valued at approximately $5,640,548. The disclosure for this sale can be found here. Insiders sold a total of 118,740 shares of company stock valued at $6,923,568 in the last quarter. Corporate insiders own 0.21% of the company’s stock.
About Southwest Airlines
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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