Principal Financial Group Inc. Sells 20,973 Shares of Southwest Airlines Co. (NYSE:LUV)

Principal Financial Group Inc. lessened its holdings in Southwest Airlines Co. (NYSE:LUVGet Rating) by 2.9% during the fourth quarter, Holdings Channel reports. The fund owned 707,426 shares of the airline’s stock after selling 20,973 shares during the period. Principal Financial Group Inc.’s holdings in Southwest Airlines were worth $30,306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. TCW Group Inc. raised its holdings in Southwest Airlines by 33.8% in the 4th quarter. TCW Group Inc. now owns 224,894 shares of the airline’s stock valued at $9,635,000 after acquiring an additional 56,800 shares during the period. Versor Investments LP bought a new position in Southwest Airlines in the 4th quarter valued at about $335,000. William Blair Investment Management LLC raised its holdings in Southwest Airlines by 28.1% in the 3rd quarter. William Blair Investment Management LLC now owns 94,374 shares of the airline’s stock valued at $4,854,000 after acquiring an additional 20,674 shares during the period. Strs Ohio raised its holdings in Southwest Airlines by 0.6% in the 4th quarter. Strs Ohio now owns 774,212 shares of the airline’s stock valued at $33,167,000 after acquiring an additional 4,913 shares during the period. Finally, Toronto Dominion Bank raised its holdings in Southwest Airlines by 10.7% in the 4th quarter. Toronto Dominion Bank now owns 259,276 shares of the airline’s stock valued at $11,108,000 after acquiring an additional 24,966 shares during the period. Institutional investors and hedge funds own 76.74% of the company’s stock.

NYSE LUV opened at $42.99 on Friday. Southwest Airlines Co. has a 1 year low of $36.75 and a 1 year high of $63.68. The company has a current ratio of 1.87, a quick ratio of 1.81 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $25.49 billion, a price-to-earnings ratio of 45.73, a P/E/G ratio of 3.10 and a beta of 0.92. The firm’s 50 day simple moving average is $44.44 and its 200 day simple moving average is $44.71.

Southwest Airlines (NYSE:LUVGet Rating) last issued its earnings results on Thursday, April 28th. The airline reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.02. Southwest Airlines had a net margin of 3.17% and a negative return on equity of 4.39%. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter last year, the business posted ($1.72) earnings per share. The company’s quarterly revenue was up 128.8% on a year-over-year basis. On average, equities research analysts forecast that Southwest Airlines Co. will post 2.31 earnings per share for the current year.

A number of research analysts have issued reports on the stock. Evercore ISI upgraded shares of Southwest Airlines from an “in-line” rating to an “outperform” rating and set a $48.00 target price on the stock in a research report on Thursday, March 3rd. JPMorgan Chase & Co. increased their target price on shares of Southwest Airlines from $62.00 to $72.00 in a research report on Friday, April 29th. Raymond James increased their target price on shares of Southwest Airlines from $54.00 to $57.00 in a research report on Friday, April 29th. Citigroup increased their target price on shares of Southwest Airlines from $48.00 to $53.00 in a research report on Monday, May 2nd. Finally, StockNews.com assumed coverage on shares of Southwest Airlines in a research report on Thursday, March 31st. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $53.88.

Southwest Airlines Profile (Get Rating)

Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2021, the company operated a total fleet of 728 Boeing 737 aircrafts; and served 121 destinations in 42 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

Want to see what other hedge funds are holding LUV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southwest Airlines Co. (NYSE:LUVGet Rating).

Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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.