Utah Retirement Systems Has $4,546,000 Position in Southwest Airlines Co. (LUV)
Utah Retirement Systems maintained its stake in Southwest Airlines Co. (NYSE:LUV) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,874 shares of the airline’s stock at the end of the third quarter. Utah Retirement Systems’ holdings in Southwest Airlines were worth $4,546,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of LUV. Vanguard Group Inc. raised its stake in Southwest Airlines by 1.9% in the second quarter. Vanguard Group Inc. now owns 38,790,694 shares of the airline’s stock valued at $1,520,983,000 after buying an additional 739,007 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Southwest Airlines by 2.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 17,921,904 shares of the airline’s stock valued at $702,718,000 after buying an additional 397,249 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Southwest Airlines by 73.0% in the third quarter. JPMorgan Chase & Co. now owns 9,420,861 shares of the airline’s stock valued at $366,379,000 after buying an additional 3,975,382 shares during the last quarter. Bank of Montreal Can raised its stake in Southwest Airlines by 4.7% in the third quarter. Bank of Montreal Can now owns 6,576,653 shares of the airline’s stock valued at $255,766,000 after buying an additional 298,203 shares during the last quarter. Finally, Janus Capital Management LLC raised its stake in Southwest Airlines by 20.1% in the second quarter. Janus Capital Management LLC now owns 5,796,281 shares of the airline’s stock valued at $227,272,000 after buying an additional 969,666 shares during the last quarter. 75.66% of the stock is currently owned by institutional investors.
Southwest Airlines Co. (NYSE:LUV) traded down 1.33% during trading on Wednesday, hitting $46.61. 6,640,447 shares of the company were exchanged. Southwest Airlines Co. has a 12 month low of $33.96 and a 12 month high of $51.34. The company has a market capitalization of $28.69 billion, a price-to-earnings ratio of 13.25 and a beta of 0.86. The company has a 50-day moving average of $42.69 and a 200-day moving average of $40.03.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Wednesday, October 26th. The airline reported $0.93 earnings per share for the quarter, topping 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 earned $5.10 billion during the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter last year, the business posted $0.94 EPS. The business’s revenue was down 3.4% on a year-over-year basis. Analysts forecast that Southwest Airlines Co. will post $3.66 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 5th. Shareholders of record on Thursday, December 8th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.86%. The ex-dividend date is Tuesday, December 6th. Southwest Airlines’s dividend payout ratio (DPR) is currently 11.40%.
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Several research firms have recently issued reports on LUV. Credit Suisse Group AG set a $48.00 target price on shares of Southwest Airlines and gave the stock a “buy” rating in a research note on Monday, September 12th. Vetr raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $38.64 target price on the stock in a research note on Tuesday, September 6th. Morgan Stanley reissued a “hold” rating and set a $43.00 target price on shares of Southwest Airlines in a research note on Sunday, August 21st. Sanford C. Bernstein began coverage on shares of Southwest Airlines in a research note on Monday, October 10th. They set an “outperform” rating and a $51.00 target price on the stock. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. raised shares of Southwest Airlines from a “neutral” rating to an “overweight” rating and set a $51.50 price target on the stock in a research note on Thursday, October 27th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average 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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