Old Mutual Global Investors UK Ltd. lifted its stake in Southwest Airlines Co (NYSE:LUV) by 86,686.9% in the fourth quarter, HoldingsChannel reports. The firm owned 171,838 shares of the airline’s stock after acquiring an additional 171,640 shares during the quarter. Old Mutual Global Investors UK Ltd.’s holdings in Southwest Airlines were worth $11,246,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BB&T Investment Services Inc. raised its position in Southwest Airlines by 325.5% during the third quarter. BB&T Investment Services Inc. now owns 1,583 shares of the airline’s stock valued at $110,000 after acquiring an additional 1,211 shares in the last quarter. Cerebellum GP LLC bought a new position in Southwest Airlines during the fourth quarter valued at approximately $127,000. SeaCrest Wealth Management LLC bought a new position in Southwest Airlines during the fourth quarter valued at approximately $136,000. Grove Bank & Trust raised its position in Southwest Airlines by 365.0% during the third quarter. Grove Bank & Trust now owns 2,395 shares of the airline’s stock valued at $134,000 after acquiring an additional 1,880 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in Southwest Airlines by 580.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,607 shares of the airline’s stock valued at $170,000 after acquiring an additional 2,224 shares in the last quarter. 77.97% of the stock is owned by institutional investors and hedge funds.
LUV has been the topic of several recent research reports. Zacks Investment Research raised shares of Southwest Airlines from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Deutsche Bank reaffirmed a “buy” rating and set a $71.00 price objective on shares of Southwest Airlines in a research report on Friday, October 27th. Stifel Nicolaus reaffirmed a “buy” rating and set a $85.00 price objective (up previously from $80.00) on shares of Southwest Airlines in a research report on Wednesday, January 10th. Vetr raised shares of Southwest Airlines from a “sell” rating to a “hold” rating and set a $65.81 price objective on the stock in a research report on Monday, January 1st. Finally, JPMorgan Chase & Co. lowered shares of Southwest Airlines from an “overweight” rating to a “neutral” rating and set a $70.00 price objective on the stock. in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Southwest Airlines presently has a consensus rating of “Buy” and a consensus target price of $67.97.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Thursday, January 25th. The airline reported $0.77 EPS for the quarter, beating the consensus estimate of $0.76 by $0.01. Southwest Airlines had a return on equity of 23.43% and a net margin of 16.48%. The company had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.25 billion. During the same quarter last year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. equities research analysts forecast that Southwest Airlines Co will post 5 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $0.50 annualized dividend and a yield of 0.87%. Southwest Airlines’s dividend payout ratio (DPR) is presently 8.59%.
In other news, EVP Robert E. Jordan sold 32,931 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $64.38, for a total value of $2,120,097.78. Following the sale, the executive vice president now owns 76,993 shares in the company, valued at $4,956,809.34. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John T. Montford sold 1,695 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $63.27, for a total transaction of $107,242.65. Following the completion of the sale, the director now owns 23,098 shares in the company, valued at approximately $1,461,410.46. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.
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About Southwest Airlines
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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