Bank of Nova Scotia Raises Stock Holdings in Southwest Airlines Co. (NYSE:LUV)

Bank of Nova Scotia boosted its holdings in Southwest Airlines Co. (NYSE:LUVFree Report) by 17.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52,380 shares of the airline’s stock after purchasing an additional 7,706 shares during the period. Bank of Nova Scotia’s holdings in Southwest Airlines were worth $1,513,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. U S Global Investors Inc. lifted its holdings in Southwest Airlines by 24.9% during the 4th quarter. U S Global Investors Inc. now owns 6,210,347 shares of the airline’s stock worth $179,355,000 after buying an additional 1,238,468 shares during the last quarter. Norges Bank bought a new position in Southwest Airlines during the 4th quarter worth approximately $29,789,000. Nuance Investments LLC bought a new position in Southwest Airlines during the 4th quarter worth approximately $24,404,000. Schonfeld Strategic Advisors LLC bought a new position in Southwest Airlines during the 3rd quarter worth approximately $13,193,000. Finally, Provident Trust Co. lifted its holdings in Southwest Airlines by 6.5% during the 4th quarter. Provident Trust Co. now owns 7,599,210 shares of the airline’s stock worth $219,465,000 after buying an additional 460,480 shares during the last quarter. Hedge funds and other institutional investors own 80.82% of the company’s stock.

Southwest Airlines Stock Performance

Shares of NYSE LUV opened at $27.85 on Friday. The stock has a fifty day moving average price of $27.73 and a two-hundred day moving average price of $29.15. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.02 and a current ratio of 1.09. The firm has a market cap of $16.67 billion, a P/E ratio of 44.21, a PEG ratio of 1.53 and a beta of 1.15. Southwest Airlines Co. has a 1 year low of $21.91 and a 1 year high of $39.53.

Southwest Airlines (NYSE:LUVGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The airline reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.02). The company had revenue of $6.33 billion for the quarter, compared to the consensus estimate of $6.42 billion. Southwest Airlines had a return on equity of 8.91% and a net margin of 1.59%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.27) earnings per share. Research analysts forecast that Southwest Airlines Co. will post 1.05 EPS for the current fiscal year.

Southwest Airlines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Wednesday, June 19th will be issued a dividend of $0.18 per share. The ex-dividend date is Tuesday, June 18th. This represents a $0.72 annualized dividend and a dividend yield of 2.59%. Southwest Airlines’s dividend payout ratio is 114.29%.

Wall Street Analyst Weigh In

A number of research analysts have commented on LUV shares. Barclays reduced their target price on Southwest Airlines from $30.00 to $26.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Argus reiterated a “hold” rating on shares of Southwest Airlines in a research report on Tuesday, May 28th. Morgan Stanley dropped their price target on Southwest Airlines from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, April 5th. TD Cowen dropped their price target on Southwest Airlines from $26.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Finally, StockNews.com cut Southwest Airlines from a “hold” rating to a “sell” rating in a research report on Friday, April 12th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $30.10.

Check Out Our Latest Report on Southwest Airlines

Southwest Airlines Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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