Quantitative Systematic Strategies LLC bought a new stake in shares of Southwest Airlines Company (NYSE:LUV) during the third quarter, Holdings Channel reports. The fund bought 48,899 shares of the airline’s stock, valued at approximately $1,867,000. Southwest Airlines Company comprises 0.7% of Quantitative Systematic Strategies LLC’s portfolio, making the stock its 21st largest position.
Several other hedge funds have also modified their holdings of LUV. RDL Financial Inc. boosted its stake in shares of Southwest Airlines Company by 1.9% in the second quarter. RDL Financial Inc. now owns 32,174 shares of the airline’s stock valued at $1,262,000 after buying an additional 598 shares during the last quarter. Glendon Capital Management LP boosted its stake in Southwest Airlines Company by 241.3% in the second quarter. Glendon Capital Management LP now owns 191,128 shares of the airline’s stock worth $7,494,000 after buying an additional 135,128 shares in the last quarter. Lee Danner & Bass Inc. boosted its stake in Southwest Airlines Company by 12.2% in the second quarter. Lee Danner & Bass Inc. now owns 79,929 shares of the airline’s stock worth $3,134,000 after buying an additional 8,700 shares in the last quarter. Buckingham Asset Management LLC boosted its stake in Southwest Airlines Company by 2.4% in the second quarter. Buckingham Asset Management LLC now owns 6,506 shares of the airline’s stock worth $255,000 after buying an additional 150 shares in the last quarter. Finally, Shelton Capital Management boosted its stake in Southwest Airlines Company by 25.7% in the second quarter. Shelton Capital Management now owns 32,514 shares of the airline’s stock worth $1,275,000 after buying an additional 6,652 shares in the last quarter. Institutional investors own 76.70% of the company’s stock.
Shares of Southwest Airlines Company (NYSE:LUV) opened at 54.71 on Monday. Southwest Airlines Company has a 52-week low of $35.09 and a 52-week high of $54.87. The company’s 50 day moving average is $51.43 and its 200 day moving average is $43.54. The firm has a market cap of $33.66 billion, a price-to-earnings ratio of 15.42 and a beta of 0.88.
Southwest Airlines Company (NYSE:LUV) last announced its quarterly earnings data on Thursday, January 26th. The airline reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.05. The company earned $5.10 billion during the quarter, compared to analysts’ expectations of $5.03 billion. Southwest Airlines Company had a net margin of 10.97% and a return on equity of 29.79%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. Analysts anticipate that Southwest Airlines Company will post $3.88 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Thursday, March 9th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, March 7th. This represents a $0.40 annualized dividend and a yield of 0.73%. Southwest Airlines Company’s payout ratio is currently 11.33%.
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A number of analysts recently commented on LUV shares. Imperial Capital upped their price objective on shares of Southwest Airlines Company from $59.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, January 27th. Citigroup Inc. assumed coverage on shares of Southwest Airlines Company in a research note on Friday, November 18th. They issued a “buy” rating and a $57.00 target price for the company. Vetr lowered shares of Southwest Airlines Company from a “buy” rating to a “hold” rating and set a $52.66 target price for the company. in a research note on Tuesday, December 20th. Zacks Investment Research upgraded shares of Southwest Airlines Company from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 22nd. Finally, J P Morgan Chase & Co cut shares of Southwest Airlines Company from an “overweight” rating to a “neutral” rating and set a $55.00 target price on the stock. in a report on Wednesday, January 25th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $55.46.
In other Southwest Airlines Company news, EVP Jeff Lamb sold 14,534 shares of the stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $48.10, for a total transaction of $699,085.40. Following the completion of the sale, the executive vice president now owns 117,188 shares of the company’s stock, valued at approximately $5,636,742.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Tammy Romo sold 9,655 shares of the stock in a transaction on Monday, January 30th. The shares were sold at an average price of $51.79, for a total transaction of $500,032.45. Following the sale, the chief financial officer now directly owns 77,937 shares of the company’s stock, valued at approximately $4,036,357.23. The disclosure for this sale can be found here. Insiders have sold a total of 24,699 shares of company stock valued at $1,225,092 in the last three months. 0.18% of the stock is currently owned by corporate insiders.
About Southwest Airlines Company
Southwest Airlines Co (Southwest) operates Southwest Airlines. Southwest is a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company serves approximately 100 destinations in over 40 states, such as the District of Columbia, the Commonwealth of Puerto Rico, and approximately seven near-international countries, including Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, and Belize.
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