Edgestream Partners L.P. decreased its holdings in shares of Southwest Airlines Co (NYSE:LUV) by 85.1% during the fourth quarter, Holdings Channel reports. The fund owned 4,369 shares of the airline’s stock after selling 25,000 shares during the period. Edgestream Partners L.P.’s holdings in Southwest Airlines were worth $286,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of LUV. BB&T Investment Services Inc. grew its stake in shares of Southwest Airlines by 325.5% during the third quarter. BB&T Investment Services Inc. now owns 1,583 shares of the airline’s stock worth $110,000 after acquiring an additional 1,211 shares during the last quarter. Cerebellum GP LLC purchased a new stake in Southwest Airlines in the fourth quarter valued at approximately $127,000. Grove Bank & Trust boosted its position in Southwest Airlines by 365.0% in the third quarter. Grove Bank & Trust now owns 2,395 shares of the airline’s stock valued at $134,000 after buying an additional 1,880 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new stake in Southwest Airlines in the fourth quarter valued at approximately $136,000. Finally, Steward Partners Investment Advisory LLC boosted its position in Southwest Airlines by 580.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,607 shares of the airline’s stock valued at $170,000 after buying an additional 2,224 shares during the last quarter. Institutional investors and hedge funds own 78.97% of the company’s stock.
Southwest Airlines Co (NYSE LUV) opened at $57.73 on Wednesday. Southwest Airlines Co has a twelve month low of $49.76 and a twelve month high of $66.99. The stock has a market capitalization of $34,259.91, a P/E ratio of 16.65, a price-to-earnings-growth ratio of 1.04 and a beta of 1.17. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.70 and a quick ratio of 0.64.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Thursday, January 25th. The airline reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.01. Southwest Airlines had a return on equity of 23.43% and a net margin of 16.48%. The company had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.25 billion. During the same period in the previous year, the company posted $0.75 earnings per share. Southwest Airlines’s revenue for the quarter was up 3.9% on a year-over-year basis. equities research analysts predict that Southwest Airlines Co will post 5 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Tuesday, March 6th. Southwest Airlines’s payout ratio is presently 8.59%.
A number of equities research analysts recently commented on LUV shares. Stifel Nicolaus reiterated a “buy” rating and issued a $80.00 target price on shares of Southwest Airlines in a research report on Wednesday, November 1st. Deutsche Bank reiterated a “buy” rating and issued a $71.00 target price on shares of Southwest Airlines in a research report on Friday, October 27th. Vetr upgraded Southwest Airlines from a “sell” rating to a “buy” rating and set a $55.93 target price on the stock in a research report on Monday, November 13th. Cowen reiterated a “buy” rating and issued a $67.00 target price on shares of Southwest Airlines in a research report on Tuesday, January 9th. Finally, Zacks Investment Research upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $67.97.
In other Southwest Airlines news, Director John T. Montford sold 1,695 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $63.27, for a total value of $107,242.65. Following the completion of the transaction, the director now directly owns 23,098 shares of the company’s stock, valued at $1,461,410.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William H. Dr Cunningham bought 3,500 shares of Southwest Airlines stock in a transaction dated Monday, February 12th. The shares were acquired at an average cost of $56.25 per share, with a total value of $196,875.00. Following the completion of the purchase, the director now owns 70,469 shares in the company, valued at $3,963,881.25. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.
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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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