Southwest Airlines Co. (NYSE:LUV) Stake Lowered by Linscomb Wealth Inc.

Linscomb Wealth Inc. trimmed its position in shares of Southwest Airlines Co. (NYSE:LUV) by 9.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,831 shares of the airline’s stock after selling 1,300 shares during the period. Linscomb Wealth Inc.’s holdings in Southwest Airlines were worth $351,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Capital World Investors boosted its holdings in Southwest Airlines by 14.9% in the first quarter. Capital World Investors now owns 61,422,187 shares of the airline’s stock worth $1,792,914,000 after purchasing an additional 7,946,199 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Southwest Airlines by 3.3% in the first quarter. Vanguard Group Inc. now owns 67,569,773 shares of the airline’s stock worth $1,972,362,000 after buying an additional 2,148,435 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Southwest Airlines during the 2nd quarter worth about $48,551,000. Canada Pension Plan Investment Board increased its holdings in shares of Southwest Airlines by 629.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,590,298 shares of the airline’s stock valued at $45,498,000 after acquiring an additional 1,372,305 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Southwest Airlines by 21.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,828,166 shares of the airline’s stock valued at $166,742,000 after acquiring an additional 1,034,496 shares in the last quarter. Institutional investors and hedge funds own 80.82% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on LUV. The Goldman Sachs Group reaffirmed a “sell” rating and set a $28.00 target price on shares of Southwest Airlines in a research report on Friday. Sanford C. Bernstein decreased their price objective on shares of Southwest Airlines from $26.00 to $24.00 and set a “market perform” rating for the company in a report on Monday, August 5th. StockNews.com upgraded shares of Southwest Airlines from a “sell” rating to a “hold” rating in a report on Monday, October 28th. Bank of America began coverage on shares of Southwest Airlines in a report on Monday, November 4th. They set a “neutral” rating and a $33.00 price target for the company. Finally, BNP Paribas upgraded Southwest Airlines to a “strong sell” rating in a research note on Thursday, September 19th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Southwest Airlines currently has an average rating of “Hold” and an average price target of $30.78.

Southwest Airlines Stock Up 0.6 %

Shares of LUV opened at $32.61 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $30.29 and a two-hundred day moving average price of $28.43. The stock has a market cap of $19.55 billion, a price-to-earnings ratio of -465.79, a P/E/G ratio of 7.57 and a beta of 1.15. Southwest Airlines Co. has a 12 month low of $23.58 and a 12 month high of $35.18.

Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, October 24th. The airline reported $0.15 EPS for the quarter, topping the consensus estimate of $0.05 by $0.10. Southwest Airlines had a positive return on equity of 4.56% and a negative net margin of 0.06%. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.77 billion. During the same quarter last year, the company earned $0.38 EPS. Southwest Airlines’s revenue was up 5.3% on a year-over-year basis. Equities analysts predict that Southwest Airlines Co. will post 0.75 EPS for the current fiscal year.

Insider Buying and Selling at Southwest Airlines

In other Southwest Airlines news, major shareholder Elliott Investment Management sold 1,203,920 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $29.83, for a total value of $35,912,933.60. Following the transaction, the insider now owns 59,912,580 shares of the company’s stock, valued at approximately $1,787,192,261.40. The trade was a 1.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rakesh Gangwal bought 643,788 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were acquired at an average price of $29.98 per share, for a total transaction of $19,300,764.24. Following the acquisition, the director now directly owns 3,606,311 shares of the company’s stock, valued at approximately $108,117,203.78. The trade was a 21.73 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

About Southwest Airlines

Southwest Airlines Co operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.