Montgomery Investment Management Inc. Invests $205,000 in Southwest Airlines Company (NYSE:LUV)
Montgomery Investment Management Inc. bought a new position in Southwest Airlines Company (NYSE:LUV) during the second quarter, Holdings Channel reports. The firm bought 3,300 shares of the airline’s stock, valued at approximately $205,000.
A number of other institutional investors also recently made changes to their positions in LUV. Macquarie Group Ltd. increased its stake in Southwest Airlines by 52.6% in the fourth quarter. Macquarie Group Ltd. now owns 313,743 shares of the airline’s stock worth $15,637,000 after buying an additional 108,212 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in Southwest Airlines by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 50,407 shares of the airline’s stock worth $2,709,000 after buying an additional 680 shares in the last quarter. Koshinski Asset Management Inc. acquired a new stake in Southwest Airlines during the first quarter worth $246,000. Quadrant Capital Group LLC increased its stake in Southwest Airlines by 0.5% in the first quarter. Quadrant Capital Group LLC now owns 3,488 shares of the airline’s stock worth $184,000 after buying an additional 16 shares in the last quarter. Finally, E&G Advisors LP increased its stake in 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 in the last quarter. 80.34% of the stock is currently owned by institutional investors and hedge funds.
Shares of Southwest Airlines Company (NYSE LUV) opened at 54.69 on Thursday. The company’s 50-day moving average price is $59.97 and its 200-day moving average price is $57.17. The company has a market capitalization of $32.74 billion, a PE ratio of 16.77 and a beta of 1.26. Southwest Airlines Company has a 1-year low of $36.05 and a 1-year high of $64.39.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.04. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.73 billion. Southwest Airlines had a return on equity of 26.07% and a net margin of 9.63%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.19 earnings per share. On average, equities analysts expect that Southwest Airlines Company will post $3.80 earnings per share for the current fiscal year.
Southwest Airlines announced that its board has initiated a share repurchase plan on Wednesday, May 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the airline to repurchase up to 5.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be given a $0.125 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.50 annualized dividend and a yield of 0.91%. Southwest Airlines’s dividend payout ratio is currently 15.34%.
ILLEGAL ACTIVITY WARNING: “Montgomery Investment Management Inc. Invests $205,000 in Southwest Airlines Company (NYSE:LUV)” was first published by Daily Political and is the sole property of of Daily Political. If you are reading this piece on another website, it was illegally stolen and reposted in violation of US & international copyright & trademark laws. The correct version of this piece can be read at https://www.dailypolitical.com/2017/08/10/montgomery-investment-management-inc-invests-205000-in-southwest-airlines-company-nyseluv.html.
LUV has been the topic of several recent analyst reports. Sanford C. Bernstein restated an “outperform” rating and issued a $70.00 target price on shares of Southwest Airlines in a research note on Thursday, July 13th. BidaskClub downgraded shares of Southwest Airlines from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Vetr upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $64.21 target price on the stock in a research note on Tuesday, June 27th. Finally, ValuEngine upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $65.78.
In other news, SVP Mark R. Shaw sold 3,823 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $59.13, for a total transaction of $226,053.99. Following the transaction, the senior vice president now owns 7,784 shares of the company’s stock, valued at approximately $460,267.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Tammy Romo sold 8,322 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $59.15, for a total value of $492,246.30. Following the transaction, the chief financial officer now directly owns 87,387 shares in the company, valued at approximately $5,168,941.05. The disclosure for this sale can be found here. In the last three months, insiders sold 118,740 shares of company stock worth $6,923,568. 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.
Want to see what other hedge funds are holding LUV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southwest Airlines Company (NYSE:LUV).
Receive News & Ratings for Southwest Airlines Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines Company and related companies with MarketBeat.com's FREE daily email newsletter.