Oregon Public Employees Retirement Fund boosted its holdings in shares of Southwest Airlines Co (NYSE:LUV) by 3,711.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,546,074 shares of the airline’s stock after buying an additional 7,348,070 shares during the period. Oregon Public Employees Retirement Fund owned about 1.34% of Southwest Airlines worth $162,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of LUV. Millennium Management LLC boosted its position in shares of Southwest Airlines by 107.6% during the 2nd quarter. Millennium Management LLC now owns 33,349 shares of the airline’s stock worth $1,697,000 after purchasing an additional 17,285 shares in the last quarter. First Hawaiian Bank bought a new position in shares of Southwest Airlines during the 3rd quarter worth about $1,829,000. Nisa Investment Advisors LLC boosted its position in shares of Southwest Airlines by 5.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 232,718 shares of the airline’s stock worth $14,531,000 after purchasing an additional 10,991 shares in the last quarter. BB&T Corp acquired a new stake in shares of Southwest Airlines in the 3rd quarter worth about $292,000. Finally, Highland Capital Management LLC raised its holdings in shares of Southwest Airlines by 134.5% in the 3rd quarter. Highland Capital Management LLC now owns 20,566 shares of the airline’s stock worth $1,284,000 after acquiring an additional 11,794 shares during the last quarter. Hedge funds and other institutional investors own 80.88% of the company’s stock.
A number of equities research analysts recently weighed in on LUV shares. Imperial Capital restated an “in-line” rating and issued a $52.00 target price (down previously from $57.00) on shares of Southwest Airlines in a report on Wednesday, January 9th. Citigroup upped their target price on shares of Southwest Airlines from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, November 29th. Susquehanna Bancshares started coverage on shares of Southwest Airlines in a report on Wednesday, November 28th. They issued a “neutral” rating and a $56.00 target price on the stock. Credit Suisse Group started coverage on shares of Southwest Airlines in a report on Monday, November 19th. They issued a “neutral” rating and a $54.00 target price on the stock. Finally, Morgan Stanley lowered their target price on shares of Southwest Airlines from $68.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, November 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $61.76.
In related news, Director John T. Montford sold 980 shares of the company’s stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $51.27, for a total transaction of $50,244.60. Following the transaction, the director now directly owns 20,983 shares of the company’s stock, valued at $1,075,798.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is currently owned by insiders.
Shares of LUV stock traded down $0.66 on Friday, hitting $51.77. 4,648,066 shares of the stock traded hands, compared to its average volume of 5,302,123. The stock has a market cap of $28.49 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 0.83 and a beta of 1.54. Southwest Airlines Co has a twelve month low of $44.28 and a twelve month high of $64.02. The company has a current ratio of 0.64, a quick ratio of 0.58 and a debt-to-equity ratio of 0.45.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, January 24th. The airline reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. Southwest Airlines had a return on equity of 24.56% and a net margin of 11.22%. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same quarter last year, the company earned $0.77 earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, equities research analysts predict that Southwest Airlines Co will post 5.12 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Tuesday, March 5th. Southwest Airlines’s dividend payout ratio (DPR) is presently 15.09%.
COPYRIGHT VIOLATION NOTICE: This report was originally published by Fairfield Current and is the sole property of of Fairfield Current. If you are reading this report on another website, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright legislation. The legal version of this report can be read at https://www.fairfieldcurrent.com/news/2019/03/08/southwest-airlines-co-luv-holdings-increased-by-oregon-public-employees-retirement-fund.html.
Southwest Airlines Company Profile
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, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 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.
Further Reading: How to Calculate Compound Annual Growth Rate (CAGR)
Receive News & Ratings for Southwest Airlines Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Southwest Airlines and related companies with MarketBeat.com’s FREE daily email newsletter.