DnB Asset Management AS lifted its holdings in shares of Southwest Airlines Co. (NYSE:LUV – Get Rating) by 5.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 30,087 shares of the airline’s stock after buying an additional 1,505 shares during the period. DnB Asset Management AS’s holdings in Southwest Airlines were worth $1,087,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Southwest Airlines by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 63,028,745 shares of the airline’s stock worth $2,886,717,000 after buying an additional 1,213,767 shares during the period. U S Global Investors Inc. raised its stake in shares of Southwest Airlines by 1.0% during the 1st quarter. U S Global Investors Inc. now owns 7,162,933 shares of the airline’s stock worth $328,062,000 after buying an additional 69,278 shares during the period. Northern Trust Corp raised its stake in shares of Southwest Airlines by 2.2% during the 1st quarter. Northern Trust Corp now owns 4,854,746 shares of the airline’s stock worth $222,347,000 after buying an additional 104,191 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Southwest Airlines by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,317,071 shares of the airline’s stock worth $197,717,000 after buying an additional 40,437 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Southwest Airlines by 3.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,861,289 shares of the airline’s stock worth $131,047,000 after buying an additional 84,212 shares during the period. 76.40% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. Morgan Stanley reduced their target price on Southwest Airlines from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, August 2nd. Cowen reduced their price objective on Southwest Airlines from $67.00 to $55.00 in a research note on Friday, July 29th. Cowen reduced their price objective on Southwest Airlines from $67.00 to $55.00 in a research note on Friday, July 29th. Raymond James raised Southwest Airlines from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the company from $57.00 to $55.00 in a research note on Thursday, June 23rd. Finally, Argus downgraded Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Monday, August 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Southwest Airlines has a consensus rating of “Moderate Buy” and a consensus price target of $53.06.
Southwest Airlines Stock Performance
Southwest Airlines (NYSE:LUV – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The airline reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.39. The business had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.69 billion. Southwest Airlines had a return on equity of 5.54% and a net margin of 4.71%. The company’s revenue was up 67.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.35) EPS. Equities analysts anticipate that Southwest Airlines Co. will post 2.14 earnings per share for the current year.
Southwest Airlines Profile
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.
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