First Dallas Securities Inc. Sells 1,550 Shares of Southwest Airlines Co. (NYSE:LUV)

First Dallas Securities Inc. lessened its position in shares of Southwest Airlines Co. (NYSE:LUV) by 8.3% during the first quarter, HoldingsChannel.com reports. The fund owned 17,025 shares of the airline’s stock after selling 1,550 shares during the period. First Dallas Securities Inc.’s holdings in Southwest Airlines were worth $497,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Envestnet Asset Management Inc. increased its holdings in shares of Southwest Airlines by 33.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 237,665 shares of the airline’s stock worth $6,434,000 after buying an additional 59,428 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Southwest Airlines by 75.1% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 10,768 shares of the airline’s stock worth $291,000 after buying an additional 4,619 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of Southwest Airlines by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 268,700 shares of the airline’s stock worth $7,274,000 after buying an additional 1,010 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Southwest Airlines by 37.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 36,004 shares of the airline’s stock valued at $975,000 after purchasing an additional 9,806 shares during the last quarter. Finally, Bank of Nova Scotia grew its holdings in shares of Southwest Airlines by 8.0% during the 3rd quarter. Bank of Nova Scotia now owns 44,674 shares of the airline’s stock valued at $1,209,000 after purchasing an additional 3,321 shares during the last quarter. Institutional investors own 80.82% of the company’s stock.

Southwest Airlines Trading Up 0.5 %

Shares of NYSE:LUV traded up $0.14 on Friday, hitting $28.61. The company had a trading volume of 10,740,125 shares, compared to its average volume of 9,707,550. The firm’s 50-day simple moving average is $27.73 and its two-hundred day simple moving average is $29.39. Southwest Airlines Co. has a 1 year low of $21.91 and a 1 year high of $39.53. The company has a quick ratio of 1.02, a current ratio of 1.09 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $17.12 billion, a price-to-earnings ratio of 45.41, a P/E/G ratio of 1.82 and a beta of 1.15.

Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, April 25th. The airline reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.02). The company had revenue of $6.33 billion during the quarter, compared to analysts’ expectations of $6.42 billion. Southwest Airlines had a return on equity of 8.91% and a net margin of 1.59%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.27) earnings per share. Equities analysts anticipate that Southwest Airlines Co. will post 0.98 earnings per share for the current fiscal year.

Southwest Airlines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Wednesday, June 19th will be paid a $0.18 dividend. The ex-dividend date is Tuesday, June 18th. This represents a $0.72 annualized dividend and a dividend yield of 2.52%. Southwest Airlines’s payout ratio is 114.29%.

Analyst Ratings Changes

Several research firms recently commented on LUV. Morgan Stanley reduced their target price on shares of Southwest Airlines from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, April 5th. Melius reaffirmed a “sell” rating and set a $26.00 target price on shares of Southwest Airlines in a report on Monday, June 10th. Sanford C. Bernstein reduced their target price on shares of Southwest Airlines from $27.00 to $26.00 and set a “market perform” rating on the stock in a report on Monday, May 6th. TD Cowen reduced their target price on shares of Southwest Airlines from $26.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Finally, Jefferies Financial Group cut shares of Southwest Airlines from a “hold” rating to an “underperform” rating and dropped their price target for the company from $28.00 to $20.00 in a research report on Monday, April 29th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $29.83.

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.