Schwab Charles Investment Management Inc. Boosts Position in Southwest Airlines Company (LUV)
Schwab Charles Investment Management Inc. increased its position in shares of Southwest Airlines Company (NYSE:LUV) by 3.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,901,955 shares of the airline’s stock after buying an additional 62,030 shares during the period. Schwab Charles Investment Management Inc. owned about 0.31% of Southwest Airlines worth $118,188,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. Guardian Life Insurance Co. of America boosted its stake in shares of Southwest Airlines by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 2,374 shares of the airline’s stock worth $128,000 after buying an additional 15 shares during the period. Van ECK Associates Corp boosted its stake in shares of Southwest Airlines by 6.6% in the first quarter. Van ECK Associates Corp now owns 2,502 shares of the airline’s stock worth $135,000 after buying an additional 154 shares during the last quarter. National Pension Service acquired a new stake in shares of Southwest Airlines during the second quarter worth approximately $141,000. TrimTabs Asset Management LLC boosted its stake in shares of Southwest Airlines by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 2,821 shares of the airline’s stock worth $152,000 after buying an additional 1,328 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its stake in shares of Southwest Airlines by 2.9% in the second quarter. Farmers & Merchants Investments Inc. now owns 2,632 shares of the airline’s stock worth $164,000 after buying an additional 75 shares during the last quarter. 80.58% of the stock is owned by hedge funds and other institutional investors.
Southwest Airlines Company (LUV) opened at 54.72 on Tuesday. Southwest Airlines Company has a 12 month low of $36.05 and a 12 month high of $64.39. The firm has a market capitalization of $32.75 billion, a price-to-earnings ratio of 16.78 and a beta of 1.26. The firm’s 50-day moving average is $59.36 and its 200 day moving average is $57.29.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same period in the previous year, the firm earned $1.19 EPS. Southwest Airlines’s revenue was up 6.7% on a year-over-year basis. Equities analysts predict that Southwest Airlines Company will post $3.80 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.91%. Southwest Airlines’s dividend payout ratio (DPR) is 15.34%.
Southwest Airlines declared that its Board of Directors has initiated a stock buyback program on Wednesday, May 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the airline to buy up to 5.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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LUV has been the subject of a number of research reports. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Southwest Airlines in a report on Thursday, July 13th. BidaskClub cut shares of Southwest Airlines from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. Zacks Investment Research cut shares of Southwest Airlines from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Vetr raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $64.21 target price for the company in a report on Tuesday, June 27th. Finally, ValuEngine raised shares of Southwest Airlines from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Southwest Airlines has an average rating of “Buy” and an average price target of $65.78.
In other Southwest Airlines news, EVP Jeff Lamb sold 19,800 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $61.00, for a total transaction of $1,207,800.00. Following the sale, the executive vice president now directly owns 92,468 shares in the company, valued at approximately $5,640,548. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William H. Dr Cunningham purchased 4,500 shares of the company’s stock in a transaction on Friday, August 11th. The shares were bought at an average price of $54.00 per share, for a total transaction of $243,000.00. Following the completion of the transaction, the director now directly owns 66,969 shares in the company, valued at approximately $3,616,326. The disclosure for this purchase can be found here. Insiders have sold a total of 118,740 shares of company stock worth $6,923,568 over the last 90 days. 0.21% of the stock is owned by insiders.
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.
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