Verdence Capital Advisors LLC Has $908,000 Stake in Southwest Airlines Co. $LUV

Verdence Capital Advisors LLC raised its stake in shares of Southwest Airlines Co. (NYSE:LUV) by 180.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,157 shares of the airline’s stock after buying an additional 18,106 shares during the period. Verdence Capital Advisors LLC’s holdings in Southwest Airlines were worth $908,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in LUV. Arrowstreet Capital Limited Partnership lifted its holdings in Southwest Airlines by 2,403.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 10,120,368 shares of the airline’s stock worth $328,305,000 after purchasing an additional 9,716,160 shares during the last quarter. Norges Bank bought a new stake in shares of Southwest Airlines during the 2nd quarter worth $41,663,000. Crake Asset Management LLP acquired a new position in Southwest Airlines in the 2nd quarter valued at $33,738,000. Canada Pension Plan Investment Board grew its stake in Southwest Airlines by 315.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,247,837 shares of the airline’s stock valued at $40,480,000 after buying an additional 947,346 shares during the last quarter. Finally, Mizuho Markets Americas LLC bought a new position in Southwest Airlines in the 2nd quarter worth $24,330,000. Institutional investors own 80.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on LUV shares. TD Cowen upped their price target on shares of Southwest Airlines from $31.00 to $42.00 and gave the company a “hold” rating in a report on Friday, December 12th. Wells Fargo & Company assumed coverage on Southwest Airlines in a research note on Thursday, December 18th. They set an “equal weight” rating and a $45.00 target price for the company. Susquehanna raised their target price on Southwest Airlines from $35.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, January 9th. Deutsche Bank Aktiengesellschaft upped their price target on Southwest Airlines from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, Morgan Stanley raised their price objective on shares of Southwest Airlines from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Six research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Southwest Airlines has an average rating of “Hold” and a consensus price target of $41.79.

Southwest Airlines Price Performance

Shares of NYSE:LUV opened at $42.87 on Thursday. The business’s 50 day moving average is $39.13 and its 200-day moving average is $34.83. The company has a current ratio of 0.49, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $22.17 billion, a PE ratio of 65.96, a PEG ratio of 0.23 and a beta of 1.16. Southwest Airlines Co. has a 1-year low of $23.82 and a 1-year high of $45.02.

Southwest Airlines (NYSE:LUV) last issued its earnings results on Wednesday, October 22nd. The airline reported $0.11 EPS for the quarter, topping the consensus estimate of $0.01 by $0.10. The firm had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Southwest Airlines had a return on equity of 6.39% and a net margin of 1.38%.Southwest Airlines’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business earned $0.15 earnings per share. Sell-side analysts predict that Southwest Airlines Co. will post 1.55 earnings per share for the current year.

Southwest Airlines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, December 26th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, December 26th. Southwest Airlines’s payout ratio is 110.77%.

Southwest Airlines Company Profile

Southwest Airlines Co is a U.S.-based low-cost carrier that operates a point-to-point domestic and near-international airline network. Headquartered in Dallas, Texas, the company primarily flies Boeing 737 aircraft and offers no-frills, single-class service designed to keep fares competitive. Southwest’s operating model emphasizes high aircraft utilization, quick turnaround times and an open seating policy, allowing customers to board and select seats on a first-come, first-served basis.

Founded in 1967 by Herb Kelleher and Rollin King as Air Southwest Company, Southwest began commercial service in 1971, initially connecting Dallas, Houston and San Antonio.