Glen Harbor Capital Management LLC lowered its position in Southwest Airlines (NYSE:LUV) by 37.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 304,836 shares of the airline’s stock after selling 181,272 shares during the quarter. Glen Harbor Capital Management LLC’s holdings in Southwest Airlines were worth $17,461,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of LUV. Boston Partners lifted its holdings in Southwest Airlines by 85.7% in the 1st quarter. Boston Partners now owns 8,483,493 shares of the airline’s stock worth $485,934,000 after buying an additional 3,914,892 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in Southwest Airlines in the 1st quarter worth $207,785,000. American Century Companies Inc. lifted its holdings in Southwest Airlines by 1,919.4% in the 1st quarter. American Century Companies Inc. now owns 2,613,827 shares of the airline’s stock worth $149,720,000 after buying an additional 2,484,390 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Southwest Airlines by 39.1% in the 4th quarter. Bank of New York Mellon Corp now owns 8,286,126 shares of the airline’s stock worth $542,326,000 after buying an additional 2,328,296 shares in the last quarter. Finally, Anchor Bolt Capital LP lifted its holdings in Southwest Airlines by 221.9% in the 4th quarter. Anchor Bolt Capital LP now owns 1,346,350 shares of the airline’s stock worth $88,119,000 after buying an additional 928,147 shares in the last quarter. Hedge funds and other institutional investors own 80.23% of the company’s stock.
Shares of Southwest Airlines opened at $52.19 on Monday, MarketBeat Ratings reports. The stock has a market capitalization of $30.26 billion, a PE ratio of 14.34, a P/E/G ratio of 0.87 and a beta of 1.16. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 0.50. Southwest Airlines has a 1 year low of $49.76 and a 1 year high of $66.99.
Southwest Airlines (NYSE:LUV) last issued its earnings results on Thursday, April 26th. The airline reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $5 billion. Southwest Airlines had a net margin of 16.95% and a return on equity of 23.25%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.61 EPS. sell-side analysts forecast that Southwest Airlines will post 4.54 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 27th. Investors of record on Wednesday, June 6th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Tuesday, June 5th. This is an increase from Southwest Airlines’s previous quarterly dividend of $0.13. Southwest Airlines’s dividend payout ratio is currently 14.29%.
In related news, EVP Gregory D. Wells sold 8,323 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $58.88, for a total transaction of $490,058.24. Following the completion of the sale, the executive vice president now owns 30,262 shares of the company’s stock, valued at approximately $1,781,826.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Gary C. Kelly sold 38,779 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $57.95, for a total transaction of $2,247,243.05. Following the sale, the chairman now directly owns 581,029 shares of the company’s stock, valued at approximately $33,670,630.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 108,473 shares of company stock valued at $6,296,091. Insiders own 0.23% of the company’s stock.
LUV has been the topic of a number of recent analyst reports. Vetr upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $65.42 price objective on the stock in a report on Thursday, January 25th. JPMorgan Chase lowered shares of Southwest Airlines from an “overweight” rating to a “neutral” rating and set a $70.00 price objective on the stock. in a report on Tuesday, January 30th. Zacks Investment Research upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Tuesday, January 30th. UBS cut their price objective on shares of Southwest Airlines from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, March 22nd. Finally, Buckingham Research upgraded shares of Southwest Airlines from a “neutral” rating to a “buy” rating and set a $106.00 price objective on the stock in a report on Thursday, March 22nd. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $68.55.
Southwest Airlines Company 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, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 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, Turks, and Chaos.
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