QCI Asset Management Inc. NY increased its stake in shares of Southwest Airlines Co (NYSE:LUV) by 0.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 253,817 shares of the airline’s stock after purchasing an additional 2,016 shares during the period. QCI Asset Management Inc. NY’s holdings in Southwest Airlines were worth $15,851,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Boston Partners grew its stake in Southwest Airlines by 5.2% during the 2nd quarter. Boston Partners now owns 8,927,411 shares of the airline’s stock worth $454,227,000 after purchasing an additional 443,918 shares in the last quarter. Bank of Montreal Can grew its stake in Southwest Airlines by 9.3% during the 2nd quarter. Bank of Montreal Can now owns 5,832,599 shares of the airline’s stock worth $296,764,000 after purchasing an additional 494,484 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Southwest Airlines by 9.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,637,579 shares of the airline’s stock worth $185,076,000 after purchasing an additional 328,453 shares in the last quarter. American Century Companies Inc. grew its stake in Southwest Airlines by 33.9% during the 2nd quarter. American Century Companies Inc. now owns 3,500,152 shares of the airline’s stock worth $178,088,000 after purchasing an additional 886,325 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Southwest Airlines by 12.2% during the 2nd quarter. Wells Fargo & Company MN now owns 3,324,336 shares of the airline’s stock worth $169,142,000 after purchasing an additional 360,539 shares in the last quarter. 78.03% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on the company. Macquarie raised Southwest Airlines to an “outperform” rating in a research note on Tuesday, September 18th. ValuEngine raised Southwest Airlines from a “hold” rating to a “buy” rating in a research note on Monday, September 17th. Imperial Capital reissued an “outperform” rating and set a $66.00 target price (up from $60.00) on shares of Southwest Airlines in a research note on Thursday, September 27th. Zacks Investment Research cut Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Finally, Buckingham Research boosted their target price on Southwest Airlines from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. Southwest Airlines currently has an average rating of “Buy” and an average price target of $66.78.
In other news, EVP Andrew M. Watterson sold 6,130 shares of the company’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $59.28, for a total transaction of $363,386.40. Following the completion of the transaction, the executive vice president now directly owns 16,597 shares of the company’s stock, valued at approximately $983,870.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.23% of the company’s stock.
NYSE:LUV opened at $52.49 on Friday. The stock has a market cap of $29.73 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 1.15 and a beta of 1.22. Southwest Airlines Co has a 1 year low of $47.10 and a 1 year high of $66.99. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.47.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, October 25th. The airline reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.02. The business had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.56 billion. Southwest Airlines had a return on equity of 22.27% and a net margin of 17.18%. During the same period in the prior year, the firm posted $0.88 EPS. As a group, research analysts forecast that Southwest Airlines Co will post 4.12 earnings per share for the current year.
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, 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.
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