Morris Capital Advisors LLC lessened its position in Southwest Airlines Co (NYSE:LUV) by 3.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 48,379 shares of the airline’s stock after selling 1,936 shares during the period. Southwest Airlines comprises about 2.3% of Morris Capital Advisors LLC’s investment portfolio, making the stock its 17th biggest holding. Morris Capital Advisors LLC’s holdings in Southwest Airlines were worth $2,613,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of LUV. Nuveen Asset Management LLC lifted its position in Southwest Airlines by 333.6% during the second quarter. Nuveen Asset Management LLC now owns 3,739,565 shares of the airline’s stock valued at $189,895,000 after purchasing an additional 2,877,170 shares during the period. AQR Capital Management LLC lifted its position in Southwest Airlines by 50.7% during the second quarter. AQR Capital Management LLC now owns 5,547,705 shares of the airline’s stock valued at $281,712,000 after purchasing an additional 1,865,500 shares during the period. Schroder Investment Management Group lifted its position in Southwest Airlines by 938.6% during the second quarter. Schroder Investment Management Group now owns 385,935 shares of the airline’s stock valued at $19,598,000 after purchasing an additional 348,777 shares during the period. Panagora Asset Management Inc. lifted its position in Southwest Airlines by 975.2% during the second quarter. Panagora Asset Management Inc. now owns 378,124 shares of the airline’s stock valued at $19,201,000 after purchasing an additional 342,955 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Southwest Airlines by 120.2% during the second quarter. Renaissance Technologies LLC now owns 611,780 shares of the airline’s stock valued at $31,066,000 after purchasing an additional 333,900 shares during the period. Hedge funds and other institutional investors own 82.08% of the company’s stock.
NYSE:LUV traded down $0.09 during trading hours on Monday, reaching $53.39. 326,213 shares of the company were exchanged, compared to its average volume of 3,631,151. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 0.37. The stock’s 50-day moving average is $53.72 and its 200-day moving average is $52.18. The firm has a market cap of $28.95 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 1.41 and a beta of 1.48. Southwest Airlines Co has a twelve month low of $44.28 and a twelve month high of $58.77.
Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, July 25th. The airline reported $1.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.02. Southwest Airlines had a net margin of 10.73% and a return on equity of 24.12%. The business had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the prior year, the firm earned $1.26 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, research analysts anticipate that Southwest Airlines Co will post 4.27 EPS for the current year.
A number of brokerages have commented on LUV. Berenberg Bank began coverage on shares of Southwest Airlines in a research note on Friday, September 6th. They issued a “hold” rating and a $57.00 price objective for the company. Bank of America upgraded shares of Southwest Airlines to a “buy” rating and set a $65.00 target price for the company in a report on Monday, September 23rd. Tigress Financial restated a “buy” rating on shares of Southwest Airlines in a report on Thursday, September 26th. Stifel Nicolaus cut shares of Southwest Airlines from a “buy” rating to a “hold” rating and decreased their price objective for the company from $75.00 to $60.00 in a research note on Monday. Finally, Cowen restated a “market perform” rating and set a $57.00 price objective (up from $55.00) on shares of Southwest Airlines in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $58.07.
Southwest Airlines 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, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 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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