Ontario Teachers Pension Plan Board Decreases Position in Southwest Airlines Company (LUV)
Ontario Teachers Pension Plan Board reduced its stake in Southwest Airlines Company (NYSE:LUV) by 14.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,618 shares of the airline’s stock after selling 6,722 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Southwest Airlines were worth $2,524,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Independent Advisor Alliance boosted its position in Southwest Airlines by 45.6% during the 1st quarter. Independent Advisor Alliance now owns 4,078 shares of the airline’s stock valued at $218,000 after acquiring an additional 1,278 shares in the last quarter. Savant Capital LLC raised its position in shares of Southwest Airlines by 6.6% in the 1st quarter. Savant Capital LLC now owns 8,184 shares of the airline’s stock worth $440,000 after acquiring an additional 509 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Southwest Airlines by 20.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 158,784 shares of the airline’s stock worth $8,536,000 after acquiring an additional 26,954 shares in the last quarter. Mason Street Advisors LLC raised its position in shares of Southwest Airlines by 1.0% in the 1st quarter. Mason Street Advisors LLC now owns 85,023 shares of the airline’s stock worth $4,571,000 after acquiring an additional 812 shares in the last quarter. Finally, Greenwood Capital Associates LLC bought a new position in shares of Southwest Airlines in the 1st quarter worth approximately $2,592,000. Institutional investors and hedge funds own 79.42% of the company’s stock.
Southwest Airlines Company (LUV) opened at 55.98 on Monday. Southwest Airlines Company has a 1-year low of $36.91 and a 1-year high of $64.39. The stock has a market cap of $33.51 billion, a PE ratio of 17.17 and a beta of 1.32. The stock has a 50 day moving average price of $53.62 and a 200 day moving average price of $56.82.
Southwest Airlines (NYSE:LUV) last released 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. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.73 billion. During the same period last year, the business earned $1.19 EPS. The company’s revenue was up 6.7% compared to the same quarter last year. On average, analysts predict that Southwest Airlines Company will post $3.66 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Thursday, August 24th were paid a dividend of $0.125 per share. The ex-dividend date was Tuesday, August 22nd. This represents a $0.50 annualized dividend and a dividend yield of 0.89%. Southwest Airlines’s dividend payout ratio (DPR) is presently 15.34%.
In other news, Director William H. Dr Cunningham bought 4,500 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average price of $54.00 per share, with a total value of $243,000.00. Following the completion of the transaction, the director now directly owns 66,969 shares of the company’s stock, valued at approximately $3,616,326. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.21% of the company’s stock.
Several brokerages recently weighed in on LUV. Zacks Investment Research cut Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Macquarie assumed coverage on Southwest Airlines in a report on Monday, September 25th. They issued an “outperform” rating and a $62.00 price objective for the company. BidaskClub lowered Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Wolfe Research raised Southwest Airlines from a “market perform” rating to an “outperform” rating in a research report on Friday, August 18th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $70.00 target price on shares of Southwest Airlines in a report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $66.95.
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About Southwest Airlines
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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