Public Employees Retirement System of Ohio increased its position in shares of Southwest Airlines Co. (NYSE:LUV - Free Report) by 31.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 284,312 shares of the airline's stock after purchasing an additional 67,307 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Southwest Airlines were worth $9,559,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in shares of Southwest Airlines by 9.6% during the fourth quarter. Franklin Resources Inc. now owns 32,978,869 shares of the airline's stock worth $1,108,750,000 after acquiring an additional 2,896,150 shares during the last quarter. National Bank of Canada FI boosted its stake in Southwest Airlines by 1,327.7% during the 4th quarter. National Bank of Canada FI now owns 2,840,529 shares of the airline's stock valued at $95,499,000 after purchasing an additional 2,641,564 shares during the period. Sound Shore Management Inc. CT bought a new position in Southwest Airlines in the 4th quarter worth about $85,262,000. Jacobs Levy Equity Management Inc. increased its stake in shares of Southwest Airlines by 66.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 6,014,828 shares of the airline's stock valued at $202,219,000 after purchasing an additional 2,391,495 shares during the period. Finally, Norges Bank acquired a new stake in shares of Southwest Airlines in the fourth quarter valued at approximately $57,724,000. Institutional investors and hedge funds own 80.82% of the company's stock.
Southwest Airlines Trading Up 2.4%
LUV traded up $0.79 during trading on Thursday, reaching $33.68. The company had a trading volume of 13,344,165 shares, compared to its average volume of 10,178,787. The firm's 50-day simple moving average is $29.35 and its 200 day simple moving average is $31.13. Southwest Airlines Co. has a 12-month low of $23.58 and a 12-month high of $36.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 0.92. The company has a market cap of $19.19 billion, a price-to-earnings ratio of 46.78, a PEG ratio of 0.97 and a beta of 1.18.
Southwest Airlines (NYSE:LUV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The airline reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.05. The firm had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.47 billion. Southwest Airlines had a return on equity of 5.77% and a net margin of 1.69%. The business's quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company posted ($0.36) EPS. Equities research analysts anticipate that Southwest Airlines Co. will post 1.55 earnings per share for the current year.
Southwest Airlines Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be given a $0.18 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.72 dividend on an annualized basis and a yield of 2.14%. Southwest Airlines's payout ratio is 84.71%.
Insider Buying and Selling at Southwest Airlines
In related news, Director C. David Cush bought 5,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $30.03 per share, for a total transaction of $150,150.00. Following the transaction, the director now directly owns 19,011 shares of the company's stock, valued at $570,900.33. This represents a 35.69% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gregg A. Saretsky acquired 3,670 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were bought at an average cost of $27.29 per share, with a total value of $100,154.30. Following the completion of the acquisition, the director now owns 14,881 shares of the company's stock, valued at approximately $406,102.49. This trade represents a 32.74% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 16,670 shares of company stock valued at $464,944 in the last quarter. Company insiders own 0.79% of the company's stock.
Wall Street Analysts Forecast Growth
LUV has been the subject of a number of recent analyst reports. Raymond James reissued an "outperform" rating and issued a $40.00 price objective (down from $42.00) on shares of Southwest Airlines in a report on Tuesday, April 29th. Barclays decreased their price target on Southwest Airlines from $32.00 to $26.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Melius upgraded shares of Southwest Airlines from a "sell" rating to a "hold" rating in a research note on Thursday, March 20th. Citigroup decreased their target price on shares of Southwest Airlines from $30.00 to $23.00 and set a "sell" rating for the company in a research report on Monday, April 14th. Finally, Argus raised shares of Southwest Airlines from a "hold" rating to a "buy" rating and set a $35.00 target price on the stock in a research note on Tuesday, February 11th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $31.53.
Check Out Our Latest Stock Report on Southwest Airlines
About Southwest Airlines
(
Free Report)
Southwest Airlines Co operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; 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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