Southwest Airlines Co. (LUV) Shares Bought by HL Financial Services LLC
HL Financial Services LLC raised its stake in Southwest Airlines Co. (NYSE:LUV) by 9.3% during the second quarter, Holdings Channel reports. The firm owned 133,321 shares of the airline’s stock after buying an additional 11,372 shares during the period. HL Financial Services LLC’s holdings in Southwest Airlines were worth $5,228,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in LUV. Bank of Montreal Can acquired a new position in shares of Southwest Airlines during the second quarter valued at $246,179,000. Norges Bank acquired a new position in shares of Southwest Airlines during the fourth quarter valued at $105,780,000. Wellington Management Group LLP increased its position in shares of Southwest Airlines by 261.0% in the first quarter. Wellington Management Group LLP now owns 1,550,920 shares of the airline’s stock valued at $69,481,000 after buying an additional 1,121,332 shares during the period. Douglas Lane & Associates LLC acquired a new position in shares of Southwest Airlines during the first quarter valued at $48,856,000. Finally, JPMorgan Chase & Co. increased its position in shares of Southwest Airlines by 45.6% in the first quarter. JPMorgan Chase & Co. now owns 3,400,713 shares of the airline’s stock valued at $152,353,000 after buying an additional 1,065,198 shares during the period. Hedge funds and other institutional investors own 78.50% of the company’s stock.
Southwest Airlines Co. (NYSE:LUV) traded up 0.33% during trading on Tuesday, reaching $36.82. The company had a trading volume of 3,312,028 shares. Southwest Airlines Co. has a 1-year low of $33.96 and a 1-year high of $51.34. The stock has a market capitalization of $22.84 billion, a price-to-earnings ratio of 9.77 and a beta of 0.84. The firm has a 50-day moving average of $36.91 and a 200-day moving average of $40.99.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, July 21st. The airline reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by $0.02. The firm had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.41 billion. Southwest Airlines had a return on equity of 34.25% and a net margin of 11.95%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.03 EPS. On average, analysts anticipate that Southwest Airlines Co. will post $3.80 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Thursday, August 18th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Tuesday, August 16th. Southwest Airlines’s payout ratio is 10.61%.
Several research analysts recently weighed in on LUV shares. Vetr upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $38.64 target price on the stock in a research note on Tuesday, September 6th. Evercore ISI upgraded Southwest Airlines from a “hold” rating to a “buy” rating and dropped their target price for the stock from $47.00 to $37.36 in a research note on Tuesday, July 26th. Morgan Stanley restated a “hold” rating and set a $43.00 target price on shares of Southwest Airlines in a research note on Sunday, August 21st. Argus downgraded Southwest Airlines from a “buy” rating to a “hold” rating and boosted their target price for the stock from $32.94 to $37.83 in a research note on Monday, July 25th. Finally, Credit Suisse Group AG restated an “outperform” rating on shares of Southwest Airlines in a research note on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. Southwest Airlines has a consensus rating of “Buy” and a consensus target price of $47.85.
In other news, insider Gary C. Kelly acquired 28,106 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were bought at an average price of $35.58 per share, with a total value of $1,000,011.48. Following the completion of the acquisition, the insider now owns 505,119 shares in the company, valued at approximately $17,972,134.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO De Ven Michael G. Van acquired 4,200 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were purchased at an average cost of $35.77 per share, for a total transaction of $150,234.00. Following the acquisition, the chief operating officer now owns 183,245 shares of the company’s stock, valued at approximately $6,554,673.65. The disclosure for this purchase can be found here. Company insiders own 0.18% of the company’s stock.
Southwest Airlines Company Profile
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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