Becker Capital Management Inc. reduced its position in Southwest Airlines Co (NYSE:LUV) by 0.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 686,587 shares of the airline’s stock after selling 2,667 shares during the period. Becker Capital Management Inc. owned about 0.12% of Southwest Airlines worth $42,877,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. Psagot Investment House Ltd. acquired a new stake in shares of Southwest Airlines during the third quarter worth approximately $131,000. Warren Averett Asset Management LLC acquired a new stake in shares of Southwest Airlines during the third quarter worth approximately $221,000. BP PLC acquired a new stake in shares of Southwest Airlines during the third quarter worth approximately $4,059,000. WINTON GROUP Ltd boosted its holdings in shares of Southwest Airlines by 3,430.0% during the third quarter. WINTON GROUP Ltd now owns 156,238 shares of the airline’s stock worth $9,757,000 after purchasing an additional 151,812 shares during the period. Finally, Markel Corp boosted its holdings in shares of Southwest Airlines by 166.7% during the third quarter. Markel Corp now owns 80,000 shares of the airline’s stock worth $4,996,000 after purchasing an additional 50,000 shares during the period. 78.03% of the stock is currently owned by institutional investors and hedge funds.
NYSE LUV opened at $51.86 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $29.14 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 1.13 and a beta of 1.22. Southwest Airlines Co has a 12-month low of $47.10 and a 12-month high of $66.99.
Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, October 25th. The airline reported $1.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.02. The firm had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.56 billion. Southwest Airlines had a net margin of 17.18% and a return on equity of 22.27%. During the same period in the previous year, the company earned $0.88 earnings per share. As a group, analysts anticipate that Southwest Airlines Co will post 4.12 EPS for the current fiscal year.
In other news, EVP Andrew M. Watterson sold 6,130 shares of the business’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $59.28, for a total value of $363,386.40. Following the completion of the sale, the executive vice president now directly owns 16,597 shares in the company, valued at $983,870.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is owned by insiders.
Several research firms recently commented on LUV. JPMorgan Chase & Co. cut shares of Southwest Airlines from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $63.00 to $52.00 in a report on Tuesday, October 30th. Buckingham Research decreased their price target on shares of Southwest Airlines from $73.00 to $65.00 and set a “buy” rating for the company in a report on Friday, October 26th. Raymond James decreased their price target on shares of Southwest Airlines from $68.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, October 26th. Imperial Capital decreased their price target on shares of Southwest Airlines from $66.00 to $56.00 and set an “in-line” rating for the company in a report on Friday, October 26th. Finally, Zacks Investment Research cut shares of Southwest Airlines from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $66.78.
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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, and Turks and Caicos.
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