Strs Ohio Has $1,013,000 Position in SkyWest Inc. (SKYW)
Strs Ohio lowered its stake in SkyWest Inc. (NASDAQ:SKYW) by 11.8% during the second quarter, Holdings Channel reports. The fund owned 38,300 shares of the company’s stock after selling 5,100 shares during the period. Strs Ohio’s holdings in SkyWest were worth $1,013,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of SkyWest by 30.2% in the first quarter. Royal Bank of Canada now owns 6,118 shares of the company’s stock worth $122,000 after buying an additional 1,418 shares in the last quarter. Invictus RG acquired a new stake in shares of SkyWest during the first quarter worth approximately $144,000. Bank of Montreal Can acquired a new stake in shares of SkyWest during the second quarter worth approximately $172,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of SkyWest during the first quarter worth approximately $219,000. Finally, Capital One National Association acquired a new stake in shares of SkyWest during the second quarter worth approximately $244,000. 86.16% of the stock is owned by institutional investors.
Shares of SkyWest Inc. (NASDAQ:SKYW) traded down 2.25% on Friday, hitting $28.25. The company’s stock had a trading volume of 234,904 shares. The stock has a market capitalization of $1.46 billion, a P/E ratio of 10.18 and a beta of 1.73. SkyWest Inc. has a 52 week low of $13.23 and a 52 week high of $29.87. The stock’s 50 day moving average price is $27.67 and its 200 day moving average price is $25.41.
SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, July 28th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.10. The company earned $801.34 million during the quarter, compared to analyst estimates of $764.04 million. SkyWest had a return on equity of 8.47% and a net margin of 4.63%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 earnings per share. On average, analysts forecast that SkyWest Inc. will post $2.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 7th. Stockholders of record on Friday, September 30th were issued a $0.05 dividend. The ex-dividend date was Wednesday, September 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.71%. SkyWest’s payout ratio is currently 7.19%.
SKYW has been the topic of a number of research analyst reports. Zacks Investment Research upgraded SkyWest from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Tuesday, August 2nd. Deutsche Bank AG lifted their target price on SkyWest from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, July 29th. Five investment analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus target price of $28.40.
In other news, COO Michael B. Thompson sold 7,899 shares of the stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $28.50, for a total value of $225,121.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Wade J. Steel sold 9,292 shares of the stock in a transaction on Friday, August 12th. The shares were sold at an average price of $28.56, for a total value of $265,379.52. The disclosure for this sale can be found here. 4.00% of the stock is owned by insiders.
Skywest, Inc is a holding company for approximately two scheduled passenger airline operations and an aircraft leasing company. The Company operates through two segments: SkyWest Airlines and ExpressJet. SkyWest Airlines provides regional jet and turboprop service to airports located in the Midwestern and Western United States.
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