Handelsbanken Fonder AB grew its stake in shares of Southwest Airlines Co. (NYSE:LUV – Free Report) by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 112,033 shares of the airline’s stock after purchasing an additional 1,478 shares during the quarter. Handelsbanken Fonder AB’s holdings in Southwest Airlines were worth $3,646,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also modified their holdings of LUV. Roundview Capital LLC grew its holdings in shares of Southwest Airlines by 21.2% during the first quarter. Roundview Capital LLC now owns 13,336 shares of the airline’s stock worth $611,000 after purchasing an additional 2,335 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Southwest Airlines during the 1st quarter worth approximately $403,000. APG Asset Management N.V. increased its position in Southwest Airlines by 16.6% during the first quarter. APG Asset Management N.V. now owns 6,335 shares of the airline’s stock worth $261,000 after buying an additional 900 shares during the period. Raymond James Trust N.A. lifted its stake in Southwest Airlines by 5.3% in the first quarter. Raymond James Trust N.A. now owns 12,187 shares of the airline’s stock valued at $559,000 after buying an additional 615 shares during the last quarter. Finally, Cibc World Market Inc. boosted its holdings in shares of Southwest Airlines by 3.2% in the first quarter. Cibc World Market Inc. now owns 40,189 shares of the airline’s stock valued at $1,841,000 after acquiring an additional 1,246 shares during the period. Hedge funds and other institutional investors own 75.81% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently commented on LUV shares. StockNews.com started coverage on shares of Southwest Airlines in a report on Thursday, May 18th. They issued a “hold” rating on the stock. 22nd Century Group reaffirmed a “maintains” rating on shares of Southwest Airlines in a report on Monday, June 26th. Barclays raised their price target on Southwest Airlines from $38.00 to $40.00 in a report on Thursday, July 13th. Jefferies Financial Group increased their price objective on Southwest Airlines from $32.00 to $40.00 in a research report on Tuesday, July 11th. Finally, Bank of America lifted their target price on Southwest Airlines from $39.00 to $45.00 in a research note on Monday, June 26th. Nine analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $44.53.
Southwest Airlines Stock Down 0.7 %
Southwest Airlines (NYSE:LUV – Get Free Report) last posted its quarterly earnings results on Thursday, April 27th. The airline reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.06). The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.73 billion. Southwest Airlines had a net margin of 2.65% and a return on equity of 6.99%. Southwest Airlines’s revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.32) earnings per share. On average, research analysts expect that Southwest Airlines Co. will post 2.64 earnings per share for the current fiscal year.
Southwest Airlines Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Wednesday, June 21st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Tuesday, June 20th. Southwest Airlines’s dividend payout ratio (DPR) is 72.00%.
Insider Activity
In related news, EVP Ryan C. Green sold 4,936 shares of the stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $29.94, for a total value of $147,783.84. Following the sale, the executive vice president now directly owns 26,361 shares of the company’s stock, valued at approximately $789,248.34. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.30% of the company’s stock.
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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