DNB Asset Management AS Has $844,000 Holdings in Southwest Airlines Co. (NYSE:LUV)

DNB Asset Management AS lifted its holdings in shares of Southwest Airlines Co. (NYSE:LUV) by 19.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,493 shares of the airline’s stock after purchasing an additional 4,777 shares during the period. DNB Asset Management AS’s holdings in Southwest Airlines were worth $844,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of LUV. Czech National Bank lifted its holdings in Southwest Airlines by 0.6% in the first quarter. Czech National Bank now owns 104,990 shares of the airline’s stock valued at $3,065,000 after buying an additional 585 shares during the period. GAMMA Investing LLC raised its holdings in shares of Southwest Airlines by 14.6% during the first quarter. GAMMA Investing LLC now owns 4,680 shares of the airline’s stock valued at $137,000 after purchasing an additional 595 shares during the period. Artisan Partners Limited Partnership raised its holdings in shares of Southwest Airlines by 0.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 10,790,654 shares of the airline’s stock valued at $311,634,000 after purchasing an additional 47,119 shares during the period. Polianta Ltd acquired a new position in shares of Southwest Airlines during the first quarter valued at about $1,223,000. Finally, Tidal Investments LLC raised its holdings in shares of Southwest Airlines by 26.0% during the first quarter. Tidal Investments LLC now owns 100,351 shares of the airline’s stock valued at $2,931,000 after purchasing an additional 20,694 shares during the period. Institutional investors and hedge funds own 80.82% of the company’s stock.

Southwest Airlines Stock Up 2.4 %

Shares of LUV stock traded up $0.59 during mid-day trading on Wednesday, hitting $24.93. 357,078 shares of the stock traded hands, compared to its average volume of 9,501,221. The stock has a market cap of $14.94 billion, a P/E ratio of 38.62, a P/E/G ratio of 15.50 and a beta of 1.15. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.90 and a quick ratio of 0.85. The stock’s fifty day moving average is $27.58 and its two-hundred day moving average is $29.02. Southwest Airlines Co. has a 52-week low of $21.91 and a 52-week high of $35.18.

Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, July 25th. The airline reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.07. The business had revenue of $7.40 billion for the quarter, compared to analysts’ expectations of $7.32 billion. Southwest Airlines had a net margin of 0.41% and a return on equity of 5.92%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company earned $1.09 EPS. Equities analysts predict that Southwest Airlines Co. will post 0.35 EPS for the current year.

Southwest Airlines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $0.72 annualized dividend and a dividend yield of 2.89%. Southwest Airlines’s dividend payout ratio is presently 114.29%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LUV. Jefferies Financial Group lowered shares of Southwest Airlines from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $28.00 to $20.00 in a report on Monday, April 29th. Sanford C. Bernstein decreased their target price on shares of Southwest Airlines from $26.00 to $24.00 and set a “market perform” rating for the company in a research report on Monday. Argus reissued a “hold” rating on shares of Southwest Airlines in a research report on Tuesday, May 28th. StockNews.com downgraded shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research report on Friday, April 12th. Finally, TD Cowen decreased their target price on shares of Southwest Airlines from $26.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, July 17th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Southwest Airlines currently has an average rating of “Hold” and a consensus target price of $28.39.

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.