Southwest Airlines Company (LUV) Shares Bought by Commerzbank Aktiengesellschaft FI
Commerzbank Aktiengesellschaft FI raised its position in Southwest Airlines Company (NYSE:LUV) by 321.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,796 shares of the airline’s stock after purchasing an additional 21,969 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Southwest Airlines were worth $1,612,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in LUV. Boston Partners grew its stake in shares of Southwest Airlines by 101.7% in the third quarter. Boston Partners now owns 4,980,739 shares of the airline’s stock worth $278,822,000 after acquiring an additional 2,511,258 shares in the last quarter. Thrivent Financial For Lutherans grew its stake in shares of Southwest Airlines by 35.6% in the second quarter. Thrivent Financial For Lutherans now owns 4,150,288 shares of the airline’s stock worth $257,901,000 after acquiring an additional 1,090,189 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Southwest Airlines by 13.1% in the second quarter. Ameriprise Financial Inc. now owns 8,836,067 shares of the airline’s stock worth $549,016,000 after acquiring an additional 1,026,892 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Southwest Airlines by 65.4% in the second quarter. Wells Fargo & Company MN now owns 2,555,887 shares of the airline’s stock worth $158,823,000 after acquiring an additional 1,010,966 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Southwest Airlines by 104.3% in the third quarter. Russell Investments Group Ltd. now owns 1,754,760 shares of the airline’s stock worth $98,219,000 after acquiring an additional 895,770 shares in the last quarter. 78.87% of the stock is currently owned by institutional investors.
In other news, Director John T. Montford sold 935 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $53.94, for a total value of $50,433.90. Following the completion of the sale, the director now directly owns 25,000 shares of the company’s stock, valued at $1,348,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.21% of the company’s stock.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, October 26th. The airline reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.01. Southwest Airlines had a net margin of 10.12% and a return on equity of 24.85%. The company had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the prior year, the firm posted $0.93 earnings per share. Southwest Airlines’s revenue for the quarter was up 2.6% on a year-over-year basis. sell-side analysts anticipate that Southwest Airlines Company will post 3.56 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Thursday, December 7th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $0.50 annualized dividend and a yield of 0.82%. Southwest Airlines’s dividend payout ratio is presently 14.37%.
LUV has been the subject of several research reports. Citigroup restated a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of Southwest Airlines in a research note on Thursday, September 7th. J P Morgan Chase & Co boosted their target price on shares of Southwest Airlines from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 1st. Zacks Investment Research downgraded shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research note on Monday, October 30th. Morgan Stanley reiterated an “overweight” rating on shares of Southwest Airlines in a research note on Tuesday, September 12th. Finally, Cowen reiterated a “buy” rating and set a $67.00 target price on shares of Southwest Airlines in a research note on Friday, September 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $66.89.
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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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