New Mexico Educational Retirement Board trimmed its stake in Southwest Airlines Co (NYSE:LUV) by 3.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,804 shares of the airline’s stock after selling 1,400 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Southwest Airlines were worth $2,072,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of LUV. AJO LP grew its holdings in shares of Southwest Airlines by 9,537.6% in the 1st quarter. AJO LP now owns 1,518,979 shares of the airline’s stock worth $78,850,000 after acquiring an additional 1,503,218 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Southwest Airlines by 37.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,920,617 shares of the airline’s stock worth $228,736,000 after acquiring an additional 1,348,168 shares during the last quarter. Boston Partners grew its holdings in shares of Southwest Airlines by 13.9% in the 1st quarter. Boston Partners now owns 9,998,417 shares of the airline’s stock worth $519,018,000 after acquiring an additional 1,219,028 shares during the last quarter. State of Tennessee Treasury Department grew its holdings in shares of Southwest Airlines by 629.5% in the 1st quarter. State of Tennessee Treasury Department now owns 1,290,943 shares of the airline’s stock worth $67,013,000 after acquiring an additional 1,113,980 shares during the last quarter. Finally, Provident Trust Co. grew its holdings in shares of Southwest Airlines by 31.6% in the 1st quarter. Provident Trust Co. now owns 3,719,195 shares of the airline’s stock worth $193,063,000 after acquiring an additional 892,013 shares during the last quarter. Institutional investors and hedge funds own 82.64% of the company’s stock.

LUV has been the topic of a number of recent research reports. Cowen restated a “market perform” rating and issued a $57.00 target price (up from $55.00) on shares of Southwest Airlines in a report on Friday, July 26th. Barclays decreased their target price on Southwest Airlines from $65.00 to $60.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Imperial Capital reiterated an “in-line” rating and set a $55.00 price target (up previously from $52.00) on shares of Southwest Airlines in a report on Friday, April 26th. Morgan Stanley lowered their price target on Southwest Airlines from $64.00 to $59.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Finally, Zacks Investment Research downgraded Southwest Airlines from a “hold” rating to a “sell” rating in a report on Thursday, May 16th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $57.15.

Shares of LUV stock traded up $0.71 on Friday, reaching $51.90. 77,166 shares of the company’s stock traded hands, compared to its average volume of 3,877,106. Southwest Airlines Co has a 12-month low of $44.28 and a 12-month high of $64.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.59 and a current ratio of 0.64. The company has a market capitalization of $26.89 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 1.10 and a beta of 1.50. The business’s 50 day moving average price is $51.54 and its two-hundred day moving average price is $52.28.

Southwest Airlines (NYSE:LUV) last issued its quarterly earnings results on Thursday, July 25th. The airline reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.02. Southwest Airlines had a return on equity of 24.12% and a net margin of 10.73%. The business had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter in the previous year, the company posted $1.26 earnings per share. Southwest Airlines’s revenue for the quarter was up 2.9% compared to the same quarter last year. Research analysts predict that Southwest Airlines Co will post 4.29 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Wednesday, August 21st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.72 dividend on an annualized basis and a yield of 1.39%. Southwest Airlines’s payout ratio is 16.98%.

Southwest Airlines Profile

Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.

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Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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