Nomura Holdings Inc. lifted its position in shares of Southwest Airlines Company (NYSE:LUV) by 2,514.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 640,960 shares of the airline’s stock after purchasing an additional 616,442 shares during the period. Nomura Holdings Inc. owned 0.11% of Southwest Airlines worth $39,828,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in LUV. BDO Wealth Advisors LLC bought a new position in shares of Southwest Airlines during the second quarter worth approximately $102,000. Guardian Life Insurance Co. of America increased its stake in shares of Southwest Airlines by 0.6% during the first quarter. Guardian Life Insurance Co. of America now owns 2,374 shares of the airline’s stock worth $128,000 after purchasing an additional 15 shares during the period. Pittenger & Anderson Inc. increased its stake in shares of Southwest Airlines by 13.5% during the second quarter. Pittenger & Anderson Inc. now owns 2,100 shares of the airline’s stock worth $130,000 after purchasing an additional 250 shares during the period. Van ECK Associates Corp increased its stake in shares of Southwest Airlines by 6.6% during the first quarter. Van ECK Associates Corp now owns 2,502 shares of the airline’s stock worth $135,000 after purchasing an additional 154 shares during the period. Finally, National Pension Service bought a new position in shares of Southwest Airlines during the second quarter worth approximately $141,000. Institutional investors own 79.42% of the company’s stock.
Shares of Southwest Airlines Company (NYSE LUV) traded up 1.2064% during midday trading on Tuesday, hitting $58.3556. The company’s stock had a trading volume of 2,337,421 shares. The firm has a market cap of $34.93 billion, a P/E ratio of 17.8950 and a beta of 1.32. The stock’s 50 day moving average is $54.23 and its 200-day moving average is $57.02. Southwest Airlines Company has a 52-week low of $36.91 and a 52-week high of $64.39.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Thursday, August 24th were paid a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $0.50 dividend on an annualized basis and a yield of 0.87%. Southwest Airlines’s dividend payout ratio is presently 15.34%.
In other news, Director William H. Dr Cunningham bought 4,500 shares of Southwest Airlines stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average price of $54.00 per share, with a total value of $243,000.00. Following the completion of the purchase, the director now directly owns 66,969 shares in the company, valued at $3,616,326. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by corporate insiders.
LUV has been the topic of a number of recent research reports. BidaskClub lowered Southwest Airlines from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Vetr upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $64.21 target price on the stock in a research note on Tuesday, July 18th. Argus upgraded Southwest Airlines from a “hold” rating to a “buy” rating and raised their price objective for the stock from $61.76 to $68.00 in a research note on Thursday, June 22nd. Zacks Investment Research upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Tuesday, July 4th. Finally, Bank of America Corporation raised their price objective on Southwest Airlines from $62.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, June 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $66.95.
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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