Air management

DNB Asset Management AS increases its stake in Southwest Airlines Co. (NYSE:LUV)


DNB Asset Management AS increased its stake in Southwest Airlines Co. (NYSE: LUVGet a rating) by 4.1% in Q1, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,582 shares of the airline after acquiring an additional 1,128 shares during the period. DNB Asset Management AS’s holdings in Southwest Airlines were worth $1,309,000 when it last filed with the SEC.

A number of other institutional investors and hedge funds have also recently increased or reduced their stakes in LUV. Renaissance Technologies LLC increased its position in Southwest Airlines by 39.4% in the fourth quarter. Renaissance Technologies LLC now owns 2,815,980 shares of the airline worth $120,637,000 after acquiring an additional 795,400 shares last quarter. Ruffer LLP purchased a new stock position in Southwest Airlines during the fourth quarter valued at approximately $32,581,000. TD Asset Management Inc. increased its position in Southwest Airlines shares by 61.7% during the fourth quarter. TD Asset Management Inc. now owns 1,813,505 shares of the airline valued at $77,691,000 after purchasing an additional 691,777 shares during the period. Panagora Asset Management Inc. increased its position in Southwest Airlines shares by 106.9% during the fourth quarter. Panagora Asset Management Inc. now owns 1,088,381 shares of the airline valued at $46,626,000 after purchasing an additional 562,355 shares during the period. Finally, Kiltearn Partners LLP increased its position in Southwest Airlines shares by 22.8% during the fourth quarter. Kiltearn Partners LLP now owns 2,005,519 shares of the airline valued at $85,916,000 after purchasing an additional 371,700 shares during the period. Institutional investors hold 76.74% of the company’s shares.

Several brokerages have published reports on LUV. Raymond James upgraded Southwest Airlines from an “outperform” rating to a “strong buy” rating and lowered its target price for the company from $57.00 to $55.00 in a research report Thursday. Evercore ISI upgraded Southwest Airlines from an “in line” rating to an “outperforming” rating and set a target price of $48.00 for the company in a Thursday, March 3 research report. Citigroup raised its target price on Southwest Airlines from $48.00 to $53.00 in a Monday, May 2 research report. Morgan Stanley raised its price target on Southwest Airlines from $65.00 to $67.00 and gave the company an “overweight” rating in a Monday, April 4 report. Finally, JPMorgan Chase & Co. raised its price target on Southwest Airlines from $62.00 to $72.00 in a Friday, April 29 report. One analyst rated the stock with a sell rating, eight issued a hold rating, eight gave the stock a buy rating and one gave the stock a strong buy rating. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.56.

Shares of NYSE: LUV opened at $37.73 on Friday. The company has a market cap of $22.37 billion, a price-to-earnings ratio of 40.14, a growth price-to-earnings ratio of 2.26, and a beta of 0.92. Southwest Airlines Co. has a 52-week low of $34.36 and a 52-week high of $56.33. The company has a quick ratio of 1.81, a current ratio of 1.87 and a leverage ratio of 0.99. The company has a 50-day moving average of $43.16 and a 200-day moving average of $43.43.

South West Airlines (NYSE: LUVGet a rating) last released its quarterly earnings data on Thursday, April 28. The airline reported ($0.32) EPS for the quarter, beating analyst consensus estimates of ($0.34) by $0.02. The company posted revenue of $4.69 billion in the quarter, versus a consensus estimate of $4.67 billion. Southwest Airlines had a net margin of 3.17% and a negative return on equity of 4.39%. Southwest Airlines’ revenue for the quarter increased 128.8% compared to the same quarter last year. During the same quarter of the previous year, the firm had posted ($1.72) earnings per share. On average, sell-side analysts expect Southwest Airlines Co. to post EPS of 2.66 for the current year.

In other news, Director John T. Montford sold 2,300 shares of the company in a trade on Friday, May 27. The stock was sold at an average price of $45.70, for a total transaction of $105,110.00. Following the transaction, the administrator now directly owns 23,296 shares of the company, valued at $1,064,627.20. The sale was disclosed in a legal filing with the SEC, accessible via the SEC website. Insiders own 0.32% of the shares of the company.

Southwest Airlines Profile (Get a rating)

Southwest Airlines Co operates as a passenger airline that provides scheduled airline service in the United States and near-international markets. As of December 31, 2021, the company operated a total fleet of 728 Boeing 737s; and served 121 destinations in 42 states, the District of Columbia and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, Bahamas, Aruba, Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands and the Turks and Caicos Islands.

See also

Want to see which other hedge funds hold LUVs? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Southwest Airlines Co. (NYSE: LUVGet a rating).

Institutional ownership by quarter for Southwest Airlines (NYSE:LUV)



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