Prudential Financial Inc. cut its holdings in shares of Southwest Airlines Co (NYSE:LUV) by 52.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 646,985 shares of the airline’s stock after selling 711,707 shares during the period. Prudential Financial Inc. owned about 0.12% of Southwest Airlines worth $40,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Flagship Harbor Advisors LLC purchased a new stake in Southwest Airlines during the 2nd quarter valued at about $101,000. Point72 Hong Kong Ltd purchased a new stake in Southwest Airlines during the 2nd quarter valued at about $108,000. CWM LLC purchased a new stake in Southwest Airlines during the 2nd quarter valued at about $109,000. TRUE Private Wealth Advisors purchased a new stake in Southwest Airlines during the 3rd quarter valued at about $111,000. Finally, Captrust Financial Advisors grew its stake in Southwest Airlines by 310.5% during the 2nd quarter. Captrust Financial Advisors now owns 2,299 shares of the airline’s stock valued at $117,000 after acquiring an additional 1,739 shares in the last quarter. Institutional investors own 78.45% of the company’s stock.

Southwest Airlines stock opened at $51.57 on Wednesday. Southwest Airlines Co has a 1-year low of $47.10 and a 1-year high of $66.99. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.71 and a quick ratio of 0.65. The company has a market capitalization of $29.46 billion, a PE ratio of 14.73, a PEG ratio of 1.14 and a beta of 1.22.

Southwest Airlines (NYSE:LUV) last posted its quarterly earnings results on Thursday, October 25th. The airline reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.02. Southwest Airlines had a net margin of 17.18% and a return on equity of 22.27%. The business had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.56 billion. During the same quarter in the prior year, the company posted $0.88 EPS. As a group, equities analysts forecast that Southwest Airlines Co will post 4.13 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Wednesday, December 5th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, December 4th. This represents a $0.64 annualized dividend and a dividend yield of 1.24%. Southwest Airlines’s dividend payout ratio is currently 18.29%.

In other news, Director John T. Montford sold 956 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $52.35, for a total value of $50,046.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.23% of the company’s stock.

Several brokerages recently issued reports on LUV. Stephens set a $69.00 price objective on shares of Southwest Airlines and gave the company a “buy” rating in a research note on Friday, July 27th. Buckingham Research upped their price objective on shares of Southwest Airlines from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Friday, July 27th. Imperial Capital upped their price objective on shares of Southwest Airlines from $54.00 to $60.00 and gave the company an “inline” rating in a research note on Wednesday, August 22nd. Morgan Stanley reaffirmed a “buy” rating on shares of Southwest Airlines in a research note on Tuesday, August 14th. Finally, Cowen upped their price objective on shares of Southwest Airlines from $63.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday, July 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. Southwest Airlines has an average rating of “Buy” and a consensus target price of $65.65.

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About Southwest Airlines

Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.

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Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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