Fort Washington Investment Advisors Inc. OH Has $22.31 Million Stake in SkyWest, Inc. (SKYW)
Fort Washington Investment Advisors Inc. OH grew its position in SkyWest, Inc. (NASDAQ:SKYW) by 55.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 501,601 shares of the transportation company’s stock after purchasing an additional 178,000 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in SkyWest were worth $22,306,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of SKYW. M&T Bank Corp raised its holdings in SkyWest by 13.4% during the fourth quarter. M&T Bank Corp now owns 5,781 shares of the transportation company’s stock worth $257,000 after buying an additional 685 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of SkyWest by 20.7% in the fourth quarter. Rhumbline Advisers now owns 151,259 shares of the transportation company’s stock valued at $6,726,000 after purchasing an additional 25,922 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of SkyWest by 5.8% in the fourth quarter. Arizona State Retirement System now owns 79,918 shares of the transportation company’s stock valued at $3,554,000 after purchasing an additional 4,372 shares during the last quarter. Boston Advisors LLC raised its holdings in shares of SkyWest by 126.5% in the fourth quarter. Boston Advisors LLC now owns 39,203 shares of the transportation company’s stock valued at $1,743,000 after purchasing an additional 21,898 shares during the last quarter. Finally, SG Capital Management LLC purchased a new stake in shares of SkyWest in the fourth quarter valued at about $924,000. Institutional investors own 92.28% of the company’s stock.
Several brokerages have recently commented on SKYW. ValuEngine upgraded shares of SkyWest from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Imperial Capital reiterated an “outperform” rating and issued a $69.00 target price (up previously from $63.00) on shares of SkyWest in a report on Monday, February 4th. Cowen reiterated an “outperform” rating and issued a $64.00 target price (up previously from $61.00) on shares of SkyWest in a report on Friday, February 1st. BidaskClub upgraded shares of SkyWest from a “sell” rating to a “hold” rating in a report on Tuesday, January 22nd. Finally, Zacks Investment Research upgraded shares of SkyWest from a “hold” rating to a “strong-buy” rating and set a $56.00 target price for the company in a report on Monday, January 21st. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. SkyWest currently has a consensus rating of “Buy” and an average price target of $65.86.
SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, January 31st. The transportation company reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.20. The company had revenue of $803.49 million during the quarter, compared to analyst estimates of $789.62 million. SkyWest had a net margin of 8.70% and a return on equity of 14.87%. On average, equities research analysts anticipate that SkyWest, Inc. will post 5.78 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Friday, March 29th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, March 28th. This represents a $0.48 annualized dividend and a yield of 0.89%. This is a positive change from SkyWest’s previous quarterly dividend of $0.10. SkyWest’s dividend payout ratio is presently 7.55%.
SkyWest Company Profile
SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.
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