APG Asset Management N.V. Acquires 17,500 Shares of Southwest Airlines Co. (NYSE:LUV)

APG Asset Management N.V. increased its holdings in shares of Southwest Airlines Co. (NYSE:LUV) by 235.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,943 shares of the airline’s stock after acquiring an additional 17,500 shares during the period. APG Asset Management N.V.’s holdings in Southwest Airlines were worth $666,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Czech National Bank boosted its position in shares of Southwest Airlines by 0.6% in the 1st quarter. Czech National Bank now owns 104,990 shares of the airline’s stock worth $3,065,000 after purchasing an additional 585 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Southwest Airlines by 14.6% in the first quarter. GAMMA Investing LLC now owns 4,680 shares of the airline’s stock worth $137,000 after acquiring an additional 595 shares in the last quarter. Polianta Ltd purchased a new stake in shares of Southwest Airlines in the first quarter worth $1,223,000. Tidal Investments LLC increased its holdings in shares of Southwest Airlines by 26.0% during the first quarter. Tidal Investments LLC now owns 100,351 shares of the airline’s stock valued at $2,931,000 after acquiring an additional 20,694 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Southwest Airlines by 15.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 493,954 shares of the airline’s stock worth $14,419,000 after purchasing an additional 64,284 shares in the last quarter. Hedge funds and other institutional investors own 80.82% of the company’s stock.

Southwest Airlines Trading Up 0.8 %

Shares of LUV stock opened at $29.88 on Wednesday. Southwest Airlines Co. has a 1 year low of $21.91 and a 1 year high of $35.18. The firm has a fifty day moving average price of $27.75 and a 200-day moving average price of $27.88. The company has a market cap of $17.90 billion, a price-to-earnings ratio of 47.43, a PEG ratio of 26.83 and a beta of 1.16. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.90 and a quick ratio of 0.85.

Southwest Airlines (NYSE:LUV) last issued its quarterly earnings results on Thursday, July 25th. The airline reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.07. Southwest Airlines had a return on equity of 5.92% and a net margin of 0.41%. The business had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $7.32 billion. During the same quarter in the prior year, the business posted $1.09 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities analysts predict that Southwest Airlines Co. will post 0.24 earnings per share for the current year.

Southwest Airlines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a $0.18 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.41%. Southwest Airlines’s dividend payout ratio (DPR) is presently 114.29%.

Analyst Upgrades and Downgrades

LUV has been the topic of several analyst reports. BNP Paribas upgraded shares of Southwest Airlines to a “strong sell” rating in a research note on Thursday, September 19th. Melius reaffirmed a “sell” rating and issued a $26.00 price objective on shares of Southwest Airlines in a research report on Monday, June 10th. Barclays lifted their target price on Southwest Airlines from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. TD Cowen upped their price target on Southwest Airlines from $19.00 to $25.00 and gave the company a “hold” rating in a report on Monday. Finally, Sanford C. Bernstein reduced their price objective on Southwest Airlines from $26.00 to $24.00 and set a “market perform” rating for the company in a report on Monday, August 5th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $28.75.

Southwest Airlines Profile

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.