Riverview Trust Co Purchases Shares of 1,390 Southwest Airlines Co. (NYSE:LUV)

Riverview Trust Co purchased a new stake in Southwest Airlines Co. (NYSE:LUV) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,390 shares of the airline’s stock, valued at approximately $41,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its position in shares of Southwest Airlines by 33.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 237,665 shares of the airline’s stock valued at $6,434,000 after purchasing an additional 59,428 shares in the last quarter. Northern Trust Corp boosted its position in shares of Southwest Airlines by 0.7% during the 3rd quarter. Northern Trust Corp now owns 4,866,933 shares of the airline’s stock valued at $131,748,000 after purchasing an additional 32,089 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Southwest Airlines by 75.1% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 10,768 shares of the airline’s stock valued at $291,000 after purchasing an additional 4,619 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in shares of Southwest Airlines by 0.4% during the 3rd quarter. Treasurer of the State of North Carolina now owns 268,700 shares of the airline’s stock valued at $7,274,000 after purchasing an additional 1,010 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position 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 in the last quarter. Institutional investors own 80.82% of the company’s stock.

Southwest Airlines Stock Performance

Shares of LUV traded up $0.09 on Tuesday, reaching $28.58. 1,959,115 shares of the company’s stock traded hands, compared to its average volume of 9,033,813. The company has a current ratio of 1.09, a quick ratio of 1.02 and a debt-to-equity ratio of 0.78. The stock has a market cap of $17.10 billion, a PE ratio of 45.35, a PEG ratio of 1.73 and a beta of 1.15. The stock’s 50 day simple moving average is $27.75 and its two-hundred day simple moving average is $29.42. Southwest Airlines Co. has a 52-week low of $21.91 and a 52-week high of $39.53.

Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, April 25th. The airline reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.02). Southwest Airlines had a return on equity of 8.91% and a net margin of 1.59%. The firm had revenue of $6.33 billion during the quarter, compared to analysts’ expectations of $6.42 billion. During the same period in the prior year, the business earned ($0.27) earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, analysts forecast that Southwest Airlines Co. will post 1.03 earnings per share for the current fiscal year.

Southwest Airlines Announces Dividend

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

Wall Street Analysts Forecast Growth

LUV has been the topic of several recent research reports. Argus reiterated a “hold” rating on shares of Southwest Airlines in a report on Tuesday, May 28th. Morgan Stanley cut their price target on Southwest Airlines from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, April 5th. StockNews.com lowered Southwest Airlines from a “hold” rating to a “sell” rating in a report on Friday, April 12th. Raymond James reiterated an “outperform” rating and issued a $30.00 price target (down previously from $33.00) on shares of Southwest Airlines in a report on Friday, April 26th. Finally, Melius reiterated a “sell” rating and issued a $26.00 price target on shares of Southwest Airlines in a report on Monday, June 10th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $29.83.

Southwest Airlines Profile

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.