Daiwa Securities Group Inc. Acquires 3,700 Shares of Southwest Airlines Company (NYSE:LUV)
Daiwa Securities Group Inc. raised its position in shares of Southwest Airlines Company (NYSE:LUV) by 11.2% during the second quarter, Holdings Channel reports. The firm owned 36,800 shares of the airline’s stock after buying an additional 3,700 shares during the period. Daiwa Securities Group Inc.’s holdings in Southwest Airlines were worth $2,287,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. DnB Asset Management AS acquired a new stake in shares of Southwest Airlines during the first quarter worth approximately $697,000. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Southwest Airlines during the first quarter worth approximately $22,797,000. E&G Advisors LP boosted its stake in shares of Southwest Airlines by 2.0% in the first quarter. E&G Advisors LP now owns 5,100 shares of the airline’s stock worth $274,000 after buying an additional 100 shares during the period. Wedbush Securities Inc. boosted its stake in shares of Southwest Airlines by 21.3% in the first quarter. Wedbush Securities Inc. now owns 13,146 shares of the airline’s stock worth $707,000 after buying an additional 2,311 shares during the period. Finally, Parallel Advisors LLC boosted its stake in shares of Southwest Airlines by 2.5% in the first quarter. Parallel Advisors LLC now owns 21,857 shares of the airline’s stock worth $1,271,000 after buying an additional 524 shares during the period. Institutional investors and hedge funds own 80.34% of the company’s stock.
Shares of Southwest Airlines Company (NYSE LUV) opened at 54.81 on Wednesday. The firm has a market capitalization of $32.81 billion, a PE ratio of 16.81 and a beta of 1.26. The firm’s 50 day moving average is $60.45 and its 200-day moving average is $57.02. Southwest Airlines Company has a 12 month low of $36.05 and a 12 month high of $64.39.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.04. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter in the prior year, the company posted $1.19 EPS. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, analysts expect that Southwest Airlines Company will post $3.80 EPS for the current fiscal year.
Southwest Airlines declared that its board has approved a share buyback plan on Wednesday, May 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the airline to reacquire up to 5.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Tuesday, August 22nd. Southwest Airlines’s dividend payout ratio is currently 15.34%.
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LUV has been the subject of a number of recent research reports. Cowen and Company reiterated a “buy” rating and issued a $67.00 target price on shares of Southwest Airlines in a research report on Friday, July 28th. BidaskClub cut shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research report on Sunday, July 30th. Morgan Stanley reiterated an “overweight” rating and issued a $66.00 target price (up from $65.00) on shares of Southwest Airlines in a research report on Monday, July 10th. Deutsche Bank AG increased their target price on shares of Southwest Airlines from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Finally, Imperial Capital increased their target price on shares of Southwest Airlines from $63.00 to $68.00 and gave the company an “outperform” rating in a research report on Friday, April 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $65.78.
In other news, EVP Jeff Lamb sold 19,800 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $61.00, for a total transaction of $1,207,800.00. Following the completion of the transaction, the executive vice president now owns 92,468 shares of the company’s stock, valued at approximately $5,640,548. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Mark R. Shaw sold 3,823 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $59.13, for a total transaction of $226,053.99. Following the transaction, the senior vice president now directly owns 7,784 shares of the company’s stock, valued at approximately $460,267.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 118,740 shares of company stock valued at $6,923,568. Corporate insiders own 0.21% of the company’s stock.
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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