Integrated Wealth Concepts LLC acquired a new stake in Southwest Airlines Co. (NYSE:LUV – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 24,694 shares of the airline’s stock, valued at approximately $804,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Moneta Group Investment Advisors LLC boosted its holdings in shares of Southwest Airlines by 91,675.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,296,139 shares of the airline’s stock worth $515,021,000 after buying an additional 15,279,472 shares during the period. Provident Trust Co. boosted its holdings in shares of Southwest Airlines by 161.8% during the 1st quarter. Provident Trust Co. now owns 6,693,394 shares of the airline’s stock worth $217,803,000 after buying an additional 4,136,264 shares during the period. Ceredex Value Advisors LLC acquired a new stake in Southwest Airlines in the 1st quarter worth about $84,213,000. Norges Bank acquired a new stake in Southwest Airlines in the 4th quarter worth about $44,210,000. Finally, T. Rowe Price Investment Management Inc. raised its stake in Southwest Airlines by 7.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 18,213,320 shares of the airline’s stock worth $613,243,000 after purchasing an additional 1,269,782 shares in the last quarter. Institutional investors own 75.81% of the company’s stock.
Southwest Airlines Trading Down 2.1 %
LUV opened at $33.43 on Wednesday. Southwest Airlines Co. has a fifty-two week low of $28.40 and a fifty-two week high of $40.39. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.25 and a quick ratio of 1.19. The firm has a market capitalization of $19.91 billion, a price-to-earnings ratio of 37.99, a PEG ratio of 0.42 and a beta of 1.17. The company’s 50 day moving average price is $34.12 and its two-hundred day moving average price is $33.15.
Southwest Airlines (NYSE:LUV – Get Free Report) last posted its earnings results on Thursday, July 27th. The airline reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. Southwest Airlines had a net margin of 2.31% and a return on equity of 5.81%. The firm had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.98 billion. During the same period in the previous year, the firm posted $1.30 EPS. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, research analysts predict that Southwest Airlines Co. will post 2.57 earnings per share for the current year.
Southwest Airlines Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 12th. Stockholders of record on Wednesday, June 21st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Tuesday, June 20th. Southwest Airlines’s dividend payout ratio is currently 81.82%.
Analyst Ratings Changes
Several brokerages have weighed in on LUV. JPMorgan Chase & Co. cut shares of Southwest Airlines from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $64.00 to $39.00 in a research note on Monday, May 8th. Deutsche Bank Aktiengesellschaft cut shares of Southwest Airlines from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $52.00 to $38.00 in a research note on Friday, July 28th. Bank of America cut shares of Southwest Airlines from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $45.00 to $35.00 in a research note on Thursday, July 27th. Barclays dropped their price objective on shares of Southwest Airlines from $40.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, July 28th. Finally, Jefferies Financial Group boosted their target price on shares of Southwest Airlines from $32.00 to $40.00 in a research report on Tuesday, July 11th. Twelve equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $39.75.
About Southwest Airlines
Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2022, the company operated a total fleet of 770 Boeing 737 aircrafts; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten 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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