Robeco Institutional Asset Management B.V. cut its holdings in shares of Southwest Airlines Company (NYSE:LUV) by 46.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,475 shares of the airline’s stock after selling 61,177 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Southwest Airlines were worth $3,889,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. BlackRock Inc. increased its position in shares of Southwest Airlines by 4,163.3% during the first quarter. BlackRock Inc. now owns 34,983,319 shares of the airline’s stock worth $1,880,703,000 after purchasing an additional 34,162,752 shares in the last quarter. State Street Corp increased its position in shares of Southwest Airlines by 1.5% during the first quarter. State Street Corp now owns 23,480,558 shares of the airline’s stock worth $1,262,308,000 after purchasing an additional 353,960 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Southwest Airlines by 13.1% during the second quarter. Ameriprise Financial Inc. now owns 8,836,067 shares of the airline’s stock worth $549,016,000 after purchasing an additional 1,026,892 shares in the last quarter. Winslow Capital Management LLC increased its position in shares of Southwest Airlines by 3.5% during the first quarter. Winslow Capital Management LLC now owns 5,085,403 shares of the airline’s stock worth $273,392,000 after purchasing an additional 173,372 shares in the last quarter. Finally, Thrivent Financial For Lutherans increased its position in shares of Southwest Airlines by 35.6% during the second quarter. Thrivent Financial For Lutherans now owns 4,150,288 shares of the airline’s stock worth $257,901,000 after purchasing an additional 1,090,189 shares in the last quarter. 79.55% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Southwest Airlines Company (LUV) opened at 54.73 on Tuesday. Southwest Airlines Company has a 12-month low of $39.33 and a 12-month high of $64.39. The firm has a 50-day moving average of $56.57 and a 200 day moving average of $57.45. The stock has a market capitalization of $32.76 billion, a price-to-earnings ratio of 16.78 and a beta of 1.32.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, October 26th. The airline reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. The company had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.29 billion. Southwest Airlines had a net margin of 10.12% and a return on equity of 24.85%. Southwest Airlines’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 earnings per share. Equities analysts forecast that Southwest Airlines Company will post $3.57 earnings per share for the current fiscal year.
In other Southwest Airlines news, Director William H. Dr Cunningham acquired 4,500 shares of the company’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $54.00 per share, for a total transaction of $243,000.00. Following the completion of the purchase, the director now owns 66,969 shares in the company, valued at approximately $3,616,326. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.21% of the company’s stock.
LUV has been the topic of a number of research analyst reports. Cowen and Company reissued a “buy” rating and set a $67.00 price objective on shares of Southwest Airlines in a report on Friday, July 28th. BidaskClub lowered shares of Southwest Airlines from a “hold” rating to a “sell” rating in a report on Sunday, July 30th. Morgan Stanley reissued an “overweight” rating on shares of Southwest Airlines in a report on Tuesday, September 12th. Deutsche Bank AG reissued a “buy” rating and set a $71.00 price objective on shares of Southwest Airlines in a report on Friday. Finally, Macquarie initiated coverage on shares of Southwest Airlines in a report on Monday, September 25th. They set an “outperform” rating and a $62.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $67.13.
Southwest Airlines 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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