Hi Line Capital Management LLC raised its stake in shares of Southwest Airlines Co (NYSE:LUV) by 0.7% in the second quarter, Holdings Channel reports. The institutional investor owned 112,304 shares of the airline’s stock after buying an additional 763 shares during the quarter. Southwest Airlines accounts for about 2.6% of Hi Line Capital Management LLC’s holdings, making the stock its 17th biggest position. Hi Line Capital Management LLC’s holdings in Southwest Airlines were worth $5,703,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently made changes to their positions in the business. Westside Investment Management Inc. bought a new stake in shares of Southwest Airlines in the second quarter worth $60,000. Clear Perspective Advisors LLC bought a new stake in Southwest Airlines during the second quarter valued at about $60,000. NEXT Financial Group Inc grew its holdings in Southwest Airlines by 1,073.5% during the second quarter. NEXT Financial Group Inc now owns 1,197 shares of the airline’s stock valued at $61,000 after purchasing an additional 1,095 shares during the period. Executive Wealth Management LLC grew its holdings in Southwest Airlines by 19.8% during the second quarter. Executive Wealth Management LLC now owns 1,233 shares of the airline’s stock valued at $63,000 after purchasing an additional 204 shares during the period. Finally, Carroll Financial Associates Inc. grew its holdings in Southwest Airlines by 26.3% during the second quarter. Carroll Financial Associates Inc. now owns 1,534 shares of the airline’s stock valued at $77,000 after purchasing an additional 319 shares during the period. Institutional investors and hedge funds own 82.10% of the company’s stock.
LUV has been the subject of several recent research reports. Morgan Stanley cut their price target on Southwest Airlines from $64.00 to $59.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. Cowen reissued a “market perform” rating and set a $57.00 price target (up previously from $55.00) on shares of Southwest Airlines in a report on Friday, July 26th. Macquarie raised Southwest Airlines from a “neutral” rating to an “outperform” rating in a report on Friday. Berenberg Bank initiated coverage on Southwest Airlines in a report on Friday, September 6th. They set a “hold” rating and a $57.00 price target for the company. Finally, Argus lowered Southwest Airlines from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. Southwest Airlines presently has a consensus rating of “Hold” and a consensus price target of $56.08.
NYSE LUV opened at $56.18 on Friday. The firm has a market cap of $28.69 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 1.29 and a beta of 1.45. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $51.39 and a 200-day moving average price of $51.75. Southwest Airlines Co has a twelve month low of $44.28 and a twelve month high of $64.02.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, July 25th. The airline reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.02. The firm had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.94 billion. Southwest Airlines had a return on equity of 24.12% and a net margin of 10.73%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.26 earnings per share. Research analysts expect that Southwest Airlines Co will post 4.27 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Wednesday, August 21st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Tuesday, August 20th. Southwest Airlines’s dividend payout ratio (DPR) is 16.98%.
About Southwest Airlines
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, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 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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