White Pine Investment CO Decreases Position in Southwest Airlines Co. (LUV)
White Pine Investment CO decreased its stake in shares of Southwest Airlines Co. (NYSE:LUV) by 0.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,430 shares of the airline’s stock after selling 190 shares during the period. Southwest Airlines makes up 2.2% of White Pine Investment CO’s portfolio, making the stock its 16th largest position. White Pine Investment CO’s holdings in Southwest Airlines were worth $3,828,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of LUV. Rench Wealth Management Inc. raised its position in Southwest Airlines by 0.3% in the second quarter. Rench Wealth Management Inc. now owns 5,305 shares of the airline’s stock valued at $208,000 after buying an additional 14 shares during the last quarter. Shell Asset Management Co. increased its stake in shares of Southwest Airlines by 0.4% in the second quarter. Shell Asset Management Co. now owns 7,745 shares of the airline’s stock valued at $304,000 after buying an additional 32 shares during the period. Trust Investment Advisors increased its stake in shares of Southwest Airlines by 0.3% in the second quarter. Trust Investment Advisors now owns 16,575 shares of the airline’s stock valued at $650,000 after buying an additional 50 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Southwest Airlines by 0.4% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 16,469 shares of the airline’s stock valued at $645,000 after buying an additional 60 shares during the period. Finally, Harwood Advisory Group LLC increased its stake in shares of Southwest Airlines by 1.1% in the third quarter. Harwood Advisory Group LLC now owns 5,556 shares of the airline’s stock valued at $216,000 after buying an additional 61 shares during the period. 75.66% of the stock is currently owned by institutional investors and hedge funds.
Southwest Airlines Co. (NYSE:LUV) traded down 0.59% during mid-day trading on Tuesday, reaching $47.24. The company had a trading volume of 4,452,775 shares. The company’s 50-day moving average is $42.69 and its 200-day moving average is $40.03. Southwest Airlines Co. has a one year low of $33.96 and a one year high of $51.34. The stock has a market capitalization of $29.08 billion, a PE ratio of 13.43 and a beta of 0.86.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Wednesday, October 26th. The airline reported $0.93 EPS for the quarter, beating the consensus estimate of $0.88 by $0.05. Southwest Airlines had a return on equity of 32.51% and a net margin of 11.09%. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same quarter in the prior year, the business earned $0.94 earnings per share. Southwest Airlines’s revenue for the quarter was down 3.4% on a year-over-year basis. Equities research analysts anticipate that Southwest Airlines Co. will post $3.66 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 5th. Investors of record on Thursday, December 8th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, December 6th. This represents a $0.40 annualized dividend and a yield of 0.85%. Southwest Airlines’s payout ratio is 11.40%.
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Several equities research analysts have issued reports on the company. Bank of America Corp. set a $50.00 price target on Southwest Airlines and gave the stock a “buy” rating in a report on Saturday, October 1st. Sanford C. Bernstein started coverage on Southwest Airlines in a report on Monday, October 10th. They set an “outperform” rating and a $51.00 price objective for the company. They noted that the move was a valuation call. Vetr downgraded Southwest Airlines from a “buy” rating to a “hold” rating and set a $38.00 price objective for the company. in a report on Monday, August 8th. JPMorgan Chase & Co. upgraded Southwest Airlines from a “neutral” rating to an “overweight” rating and set a $51.50 price objective for the company in a report on Thursday, October 27th. Finally, Zacks Investment Research upgraded Southwest Airlines from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 22nd. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Southwest Airlines presently has a consensus rating of “Buy” and a consensus price target 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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