Envestnet Asset Management Inc. boosted its stake in shares of Southwest Airlines Company (NYSE:LUV) by 66.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 244,938 shares of the airline’s stock after purchasing an additional 98,007 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Southwest Airlines were worth $13,711,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in LUV. Daiwa Securities Group Inc. boosted its position in shares of Southwest Airlines by 11.2% in the second quarter. Daiwa Securities Group Inc. now owns 36,800 shares of the airline’s stock valued at $2,287,000 after acquiring an additional 3,700 shares during the period. IFP Advisors Inc boosted its position in shares of Southwest Airlines by 4.0% in the second quarter. IFP Advisors Inc now owns 23,748 shares of the airline’s stock valued at $1,476,000 after acquiring an additional 903 shares during the period. Beach Investment Management LLC. boosted its position in shares of Southwest Airlines by 1,154.7% in the second quarter. Beach Investment Management LLC. now owns 286,941 shares of the airline’s stock valued at $17,831,000 after acquiring an additional 264,071 shares during the period. Tdam USA Inc. bought a new stake in shares of Southwest Airlines in the second quarter valued at about $218,000. Finally, Financial Advisory Service Inc. boosted its position in shares of Southwest Airlines by 4.5% in the second quarter. Financial Advisory Service Inc. now owns 8,133 shares of the airline’s stock valued at $505,000 after acquiring an additional 351 shares during the period. 78.87% of the stock is owned by institutional investors.
Southwest Airlines Company (NYSE LUV) traded down $0.44 on Wednesday, reaching $61.28. 527,402 shares of the company traded hands, compared to its average volume of 5,246,220. Southwest Airlines Company has a 1-year low of $47.16 and a 1-year high of $64.39. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.61 and a quick ratio of 0.55. The company has a market capitalization of $36,807.83, a PE ratio of 17.88, a price-to-earnings-growth ratio of 2.06 and a beta of 1.34.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Thursday, December 7th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Wednesday, December 6th. Southwest Airlines’s payout ratio is 14.37%.
A number of equities research analysts have recently issued reports on the stock. Vetr cut shares of Southwest Airlines from a “sell” rating to a “strong sell” rating and set a $54.06 target price for the company. in a research report on Tuesday. Morgan Stanley set a $64.00 target price on shares of Southwest Airlines and gave the company a “buy” rating in a research report on Thursday, August 17th. Cowen reissued an “outperform” rating and issued a $64.00 target price (up previously from $62.00) on shares of Southwest Airlines in a research report on Friday, October 27th. Deutsche Bank reissued a “buy” rating and issued a $71.00 target price on shares of Southwest Airlines in a research report on Friday, October 27th. Finally, Macquarie assumed coverage on shares of Southwest Airlines in a research report on Monday, September 25th. They issued an “outperform” rating and a $62.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $66.89.
In other Southwest Airlines news, Director John T. Montford sold 935 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $53.94, for a total transaction of $50,433.90. Following the completion of the transaction, the director now owns 25,000 shares of the company’s stock, valued at $1,348,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by insiders.
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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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