KLP Kapitalforvaltning AS Makes New Investment in Southwest Airlines Co. (NYSE:LUV)

KLP Kapitalforvaltning AS acquired a new stake in shares of Southwest Airlines Co. (NYSE:LUV) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 72,055 shares of the airline’s stock, valued at approximately $2,434,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Kestra Investment Management LLC purchased a new position in Southwest Airlines during the fourth quarter valued at $26,000. Raleigh Capital Management Inc. raised its stake in shares of Southwest Airlines by 186.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 883 shares of the airline’s stock worth $30,000 after buying an additional 575 shares during the period. TD Private Client Wealth LLC lifted its position in shares of Southwest Airlines by 41.1% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,184 shares of the airline’s stock valued at $35,000 after buying an additional 345 shares in the last quarter. VSM Wealth Advisory LLC bought a new position in shares of Southwest Airlines during the 4th quarter valued at approximately $42,000. Finally, Millstone Evans Group LLC purchased a new stake in Southwest Airlines in the 4th quarter worth approximately $53,000. 80.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director C. David Cush acquired 5,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were acquired at an average price of $30.03 per share, for a total transaction of $150,150.00. Following the completion of the transaction, the director now directly owns 19,011 shares of the company’s stock, valued at approximately $570,900.33. The trade was a 35.69 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by corporate insiders.

Southwest Airlines Stock Performance

Shares of NYSE:LUV opened at $33.94 on Friday. The firm has a fifty day simple moving average of $31.30 and a two-hundred day simple moving average of $31.50. Southwest Airlines Co. has a 52 week low of $23.58 and a 52 week high of $36.12. The company has a quick ratio of 0.85, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $20.11 billion, a P/E ratio of 47.13, a PEG ratio of 0.97 and a beta of 1.10.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Thursday, January 30th. The airline reported $0.56 EPS for the quarter, topping the consensus estimate of $0.45 by $0.11. Southwest Airlines had a return on equity of 5.77% and a net margin of 1.69%. On average, analysts expect that Southwest Airlines Co. will post 1.55 earnings per share for the current fiscal year.

Southwest Airlines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Wednesday, March 12th. Southwest Airlines’s dividend payout ratio is currently 100.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Melius Research raised shares of Southwest Airlines from a “sell” rating to a “hold” rating and lifted their price target for the company from $28.00 to $34.00 in a report on Thursday, March 20th. Sanford C. Bernstein upped their target price on shares of Southwest Airlines from $30.00 to $33.00 and gave the stock a “market perform” rating in a report on Wednesday, December 11th. UBS Group upgraded Southwest Airlines from a “sell” rating to a “neutral” rating and increased their price target for the stock from $29.00 to $36.00 in a research note on Thursday, March 20th. Citigroup restated a “sell” rating and issued a $29.50 price objective (down from $31.50) on shares of Southwest Airlines in a research report on Thursday, January 16th. Finally, Melius upgraded Southwest Airlines from a “sell” rating to a “hold” rating in a research report on Thursday, March 20th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $32.52.

Southwest Airlines Company 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.