IPG Investment Advisors LLC purchased a new stake in shares of Southwest Airlines Company (NYSE:LUV) during the second quarter, according to its most recent filing with the SEC. The institutional investor purchased 3,475 shares of the airline’s stock, valued at approximately $216,000.
Several other institutional investors have also added to or reduced their stakes in LUV. Guardian Life Insurance Co. of America increased its position in Southwest Airlines by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 2,374 shares of the airline’s stock valued at $128,000 after buying an additional 15 shares during the last quarter. Quadrant Capital Group LLC increased its position in Southwest Airlines by 0.5% in the first quarter. Quadrant Capital Group LLC now owns 3,488 shares of the airline’s stock valued at $184,000 after buying an additional 16 shares during the last quarter. Buckingham Asset Management LLC increased its position in Southwest Airlines by 0.3% in the first quarter. Buckingham Asset Management LLC now owns 5,690 shares of the airline’s stock valued at $306,000 after buying an additional 16 shares during the last quarter. Bank of Hawaii increased its position in Southwest Airlines by 0.3% in the first quarter. Bank of Hawaii now owns 12,867 shares of the airline’s stock valued at $692,000 after buying an additional 35 shares during the last quarter. Finally, First Heartland Consultants Inc. increased its position in Southwest Airlines by 0.3% in the first quarter. First Heartland Consultants Inc. now owns 16,293 shares of the airline’s stock valued at $876,000 after buying an additional 43 shares during the last quarter. 80.58% of the stock is owned by hedge funds and other institutional investors.
Shares of Southwest Airlines Company (LUV) opened at 53.17 on Friday. The firm has a market capitalization of $31.83 billion, a PE ratio of 16.30 and a beta of 1.26. Southwest Airlines Company has a 12-month low of $36.05 and a 12-month high of $64.39. The firm has a 50-day moving average of $58.49 and a 200-day moving average of $57.27.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.04. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.73 billion. During the same period in the prior year, the business earned $1.19 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts anticipate that Southwest Airlines Company will post $3.80 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be issued a $0.125 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.50 annualized dividend and a yield of 0.94%. Southwest Airlines’s dividend payout ratio (DPR) is presently 15.34%.
Southwest Airlines declared that its Board of Directors has initiated a stock buyback program on Wednesday, May 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the airline to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.
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Several research firms have recently issued reports on LUV. Zacks Investment Research raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research note on Tuesday, June 13th. Wolfe Research raised shares of Southwest Airlines from a “market perform” rating to an “outperform” rating in a research note on Friday. BidaskClub downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Vetr raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $63.80 target price for the company in a research note on Monday, June 5th. Finally, Argus raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and lifted their target price for the stock from $61.76 to $68.00 in a research note on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Southwest Airlines currently has a consensus rating of “Buy” and a consensus target price of $65.66.
In other Southwest Airlines news, Director William H. Dr Cunningham purchased 4,500 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average cost of $54.00 per share, for a total transaction of $243,000.00. Following the purchase, the director now directly owns 66,969 shares in the company, valued at $3,616,326. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Tammy Romo sold 8,322 shares of the stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $59.15, for a total transaction of $492,246.30. Following the completion of the transaction, the chief financial officer now owns 87,387 shares of the company’s stock, valued at $5,168,941.05. The disclosure for this sale can be found here. Insiders sold a total of 47,218 shares of company stock valued at $2,838,204 over the last 90 days. Company insiders own 0.21% of the company’s stock.
Southwest Airlines Company Profile
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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