Palouse Capital Management Inc. Lowers Holdings in Southwest Airlines Co (NYSE:LUV)
Palouse Capital Management Inc. decreased its position in Southwest Airlines Co (NYSE:LUV) by 6.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 34,492 shares of the airline’s stock after selling 2,342 shares during the period. Palouse Capital Management Inc.’s holdings in Southwest Airlines were worth $1,790,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Ballentine Partners LLC lifted its position in shares of Southwest Airlines by 4.3% in the first quarter. Ballentine Partners LLC now owns 4,802 shares of the airline’s stock valued at $250,000 after acquiring an additional 199 shares in the last quarter. Haverford Financial Services Inc. lifted its position in shares of Southwest Airlines by 1.2% in the first quarter. Haverford Financial Services Inc. now owns 16,400 shares of the airline’s stock valued at $851,000 after acquiring an additional 200 shares in the last quarter. Raymond James Trust N.A. lifted its position in shares of Southwest Airlines by 2.1% in the first quarter. Raymond James Trust N.A. now owns 10,238 shares of the airline’s stock valued at $532,000 after acquiring an additional 209 shares in the last quarter. Piedmont Investment Advisors Inc. lifted its position in shares of Southwest Airlines by 0.6% in the first quarter. Piedmont Investment Advisors Inc. now owns 34,286 shares of the airline’s stock valued at $1,780,000 after acquiring an additional 217 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in shares of Southwest Airlines by 4.6% in the fourth quarter. Cerity Partners LLC now owns 5,179 shares of the airline’s stock valued at $241,000 after acquiring an additional 228 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors.
LUV has been the topic of several recent research reports. Macquarie downgraded Southwest Airlines from an “outperform” rating to a “neutral” rating in a research report on Friday, February 22nd. Goldman Sachs Group upped their price objective on Southwest Airlines to $49.00 and gave the company a “sell” rating in a research report on Wednesday, March 20th. Imperial Capital restated an “in-line” rating and issued a $58.00 price objective (down from $60.00) on shares of Southwest Airlines in a research report on Thursday, February 21st. ValuEngine downgraded Southwest Airlines from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. Finally, Barclays reduced their price objective on Southwest Airlines from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Southwest Airlines has an average rating of “Hold” and an average target price of $58.15.
Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, April 25th. The airline reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.09. Southwest Airlines had a return on equity of 23.94% and a net margin of 10.78%. The firm had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the prior year, the business posted $0.79 earnings per share. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities analysts predict that Southwest Airlines Co will post 4.57 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 5th will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, June 4th. This is an increase from Southwest Airlines’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.41%. Southwest Airlines’s dividend payout ratio is 16.98%.
About Southwest Airlines
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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