Prudential Financial Inc. lessened its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 10.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 493,003 shares of the transportation company’s stock after selling 55,560 shares during the quarter. Prudential Financial Inc. owned about 0.95% of SkyWest worth $21,643,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of SkyWest by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 5,893,643 shares of the transportation company’s stock worth $206,868,000 after purchasing an additional 105,193 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of SkyWest by 87.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,420,063 shares of the transportation company’s stock worth $62,340,000 after purchasing an additional 660,859 shares during the period. State Street Corp boosted its holdings in shares of SkyWest by 7.2% in the 1st quarter. State Street Corp now owns 1,375,036 shares of the transportation company’s stock worth $47,093,000 after purchasing an additional 92,598 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of SkyWest by 10.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,295,700 shares of the transportation company’s stock worth $45,479,000 after purchasing an additional 117,700 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of SkyWest by 7.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,210,414 shares of the transportation company’s stock worth $42,491,000 after purchasing an additional 79,503 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.
In related news, insider Wade J. Steel sold 4,500 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $47.00, for a total transaction of $211,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael B. Thompson sold 5,868 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $47.08, for a total value of $276,265.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,134 shares of company stock valued at $571,156. 3.50% of the stock is owned by company insiders.
SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.03. SkyWest had a positive return on equity of 11.87% and a negative net margin of 4.15%. The company had revenue of $831.93 million during the quarter, compared to analysts’ expectations of $817.43 million. During the same quarter in the previous year, the business earned $0.90 EPS. SkyWest’s revenue was up 4.0% compared to the same quarter last year. equities analysts expect that SkyWest, Inc. will post 3.32 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 29th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.64%. SkyWest’s payout ratio is currently -12.31%.
A number of brokerages have recently commented on SKYW. Zacks Investment Research cut SkyWest from a “buy” rating to a “hold” rating in a report on Tuesday. Imperial Capital lifted their target price on SkyWest from $38.00 to $47.00 and gave the stock an “in-line” rating in a report on Tuesday, October 31st. Deutsche Bank AG lifted their target price on SkyWest from $47.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Cowen and Company lifted their target price on SkyWest from $44.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday, October 2nd. Finally, ValuEngine upgraded SkyWest from a “buy” rating to a “strong-buy” rating in a report on Monday, September 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $47.50.
SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.
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