Southwest Airlines Company (LUV) Shares Bought by Legal & General Group Plc
Legal & General Group Plc increased its position in shares of Southwest Airlines Company (NYSE:LUV) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,009,282 shares of the airline’s stock after buying an additional 29,631 shares during the period. Legal & General Group Plc owned 0.17% of Southwest Airlines worth $62,717,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Guardian Life Insurance Co. of America boosted its position 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 position 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 period. National Pension Service bought a new position in shares of Southwest Airlines during the second quarter worth about $141,000. TrimTabs Asset Management LLC boosted its position 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 period. Finally, Farmers & Merchants Investments Inc. boosted its position 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 period. 80.58% of the stock is owned by institutional investors.
Shares of Southwest Airlines Company (NYSE LUV) opened at 52.68 on Friday. The firm has a market cap of $31.53 billion, a price-to-earnings ratio of 16.15 and a beta of 1.26. The company’s 50-day moving average is $57.18 and its 200-day moving average is $57.26. Southwest Airlines Company has a 12 month low of $36.31 and a 12 month high of $64.39.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Thursday, July 27th. The airline reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.73 billion. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. Southwest Airlines’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the company posted $1.19 EPS. On average, equities research analysts forecast that Southwest Airlines Company will post $3.80 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be given a $0.125 dividend. 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 0.95%. Southwest Airlines’s dividend payout ratio is 15.34%.
Southwest Airlines announced that its Board of Directors has approved a stock repurchase program on Wednesday, May 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the airline to repurchase up to 5.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.
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A number of research analysts have issued reports on LUV shares. Zacks Investment Research raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a report on Tuesday, June 13th. ValuEngine raised shares of Southwest Airlines from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Vetr raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $63.80 target price for the company in a report on Monday, June 5th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 target price on shares of Southwest Airlines in a report on Friday, May 26th. Finally, BidaskClub raised shares of Southwest Airlines from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Southwest Airlines currently has an average rating of “Buy” and a consensus price target of $65.66.
In other news, Director William H. Dr Cunningham purchased 4,500 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average cost of $54.00 per share, for a total transaction of $243,000.00. Following the transaction, the director now directly owns 66,969 shares of the company’s stock, valued at approximately $3,616,326. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.21% of the company’s stock.
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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