Eagle Asset Management Inc. Has $17,776,000 Stake in Southwest Airlines Co. (LUV)
Eagle Asset Management Inc. increased its stake in Southwest Airlines Co. (NYSE:LUV) by 10.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 457,085 shares of the airline’s stock after buying an additional 43,949 shares during the period. Eagle Asset Management Inc. owned about 0.07% of Southwest Airlines worth $17,776,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Hanson McClain Inc. raised its position in Southwest Airlines by 2.9% in the second quarter. Hanson McClain Inc. now owns 2,653 shares of the airline’s stock valued at $104,000 after buying an additional 75 shares in the last quarter. Washington Trust Bank raised its stake in shares of Southwest Airlines by 6.9% in the third quarter. Washington Trust Bank now owns 2,704 shares of the airline’s stock valued at $105,000 after buying an additional 174 shares during the period. Invictus RG raised its stake in shares of Southwest Airlines by 637.0% in the second quarter. Invictus RG now owns 2,771 shares of the airline’s stock valued at $109,000 after buying an additional 2,395 shares during the period. 1832 Asset Management L.P. bought a new stake in shares of Southwest Airlines during the second quarter valued at about $115,000. Finally, Krilogy Financial LLC raised its stake in shares of Southwest Airlines by 45.2% in the second quarter. Krilogy Financial LLC now owns 3,284 shares of the airline’s stock valued at $129,000 after buying an additional 1,023 shares during the period. Institutional investors and hedge funds own 75.66% of the company’s stock.
Southwest Airlines Co. (NYSE:LUV) traded up 0.46% during midday trading on Tuesday, hitting $47.74. The stock had a trading volume of 1,558,665 shares. The company has a 50-day moving average price of $42.69 and a 200-day moving average price of $40.03. Southwest Airlines Co. has a 12-month low of $33.96 and a 12-month high of $51.34. The company has a market cap of $29.39 billion, a price-to-earnings ratio of 13.57 and a beta of 0.86.
Southwest Airlines (NYSE:LUV) last announced its earnings results on Wednesday, October 26th. The airline reported $0.93 EPS for the quarter, beating the consensus estimate of $0.88 by $0.05. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.17 billion. Southwest Airlines had a return on equity of 32.51% and a net margin of 11.09%. The company’s revenue was down 3.4% on a year-over-year basis. During the same period last year, the business posted $0.94 EPS. Equities analysts anticipate that Southwest Airlines Co. will post $3.66 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 5th. Investors of record on Thursday, December 8th will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, December 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.84%. Southwest Airlines’s payout ratio is currently 11.40%.
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Several brokerages recently issued reports on LUV. Vetr upgraded shares of Southwest Airlines from a “sell” rating to a “hold” rating and set a $46.22 price objective on the stock in a report on Thursday, November 24th. Zacks Investment Research upgraded shares of Southwest Airlines from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 22nd. Imperial Capital boosted their price objective on shares of Southwest Airlines from $46.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, November 22nd. Citigroup Inc. began coverage on shares of Southwest Airlines in a report on Friday, November 18th. They issued a “buy” rating and a $57.00 price objective on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Southwest Airlines from a “neutral” rating to an “overweight” rating and set a $51.50 price objective on the stock in a report on Thursday, October 27th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $50.70.
About Southwest Airlines
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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