Elo Mutual Pension Insurance Co Sells 2,767 Shares of Southwest Airlines Co. (NYSE:LUV)

Elo Mutual Pension Insurance Co decreased its position in Southwest Airlines Co. (NYSE:LUV) by 21.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,315 shares of the airline’s stock after selling 2,767 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Southwest Airlines were worth $347,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Kestra Investment Management LLC acquired a new position in Southwest Airlines in the 4th quarter valued at $26,000. Raleigh Capital Management Inc. grew its position in shares of Southwest Airlines by 186.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 883 shares of the airline’s stock valued at $30,000 after purchasing an additional 575 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of Southwest Airlines by 41.1% in the third quarter. TD Private Client Wealth LLC now owns 1,184 shares of the airline’s stock worth $35,000 after purchasing an additional 345 shares during the period. VSM Wealth Advisory LLC acquired a new position in shares of Southwest Airlines during the 4th quarter worth about $42,000. Finally, Millstone Evans Group LLC bought a new stake in Southwest Airlines during the 4th quarter valued at approximately $53,000. 80.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Southwest Airlines

In related news, Director C. David Cush purchased 5,000 shares of Southwest Airlines stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $30.03 per share, for a total transaction of $150,150.00. Following the transaction, the director now directly owns 19,011 shares in the company, valued at approximately $570,900.33. This represents a 35.69 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Melius Research upgraded Southwest Airlines from a “sell” rating to a “hold” rating and upped their price target for the stock from $28.00 to $34.00 in a report on Thursday, March 20th. UBS Group raised shares of Southwest Airlines from a “sell” rating to a “neutral” rating and increased their price target for the company from $29.00 to $36.00 in a report on Thursday, March 20th. TD Cowen raised their price target on shares of Southwest Airlines from $25.00 to $28.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Sanford C. Bernstein upped their price objective on shares of Southwest Airlines from $30.00 to $33.00 and gave the company a “market perform” rating in a research report on Wednesday, December 11th. Finally, Argus raised Southwest Airlines from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Tuesday, February 11th. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $32.54.

Southwest Airlines Trading Down 1.0 %

Shares of LUV stock opened at $33.58 on Monday. The company has a market capitalization of $19.90 billion, a P/E ratio of 46.63, a P/E/G ratio of 0.97 and a beta of 1.10. Southwest Airlines Co. has a 12-month low of $23.58 and a 12-month high of $36.12. The company has a quick ratio of 0.85, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average price of $31.33 and a 200 day moving average price of $31.56.

Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, January 30th. The airline reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. Southwest Airlines had a net margin of 1.69% and a return on equity of 5.77%. Research analysts forecast that Southwest Airlines Co. will post 1.55 earnings per share for the current fiscal year.

Southwest Airlines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Wednesday, March 12th. Southwest Airlines’s dividend payout ratio is currently 100.00%.

Southwest Airlines Company 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.