APG Asset Management N.V. Makes New Investment in Southwest Airlines Co. (NYSE:LUV)

APG Asset Management N.V. purchased a new position in Southwest Airlines Co. (NYSE:LUV - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 85,000 shares of the airline's stock, valued at approximately $2,760,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC increased its position in shares of Southwest Airlines by 41.1% during the third quarter. TD Private Client Wealth LLC now owns 1,184 shares of the airline's stock worth $35,000 after acquiring an additional 345 shares during the period. Avior Wealth Management LLC grew its stake in Southwest Airlines by 3.8% in the fourth quarter. Avior Wealth Management LLC now owns 10,116 shares of the airline's stock worth $340,000 after purchasing an additional 369 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in Southwest Airlines by 3.9% during the 4th quarter. V Square Quantitative Management LLC now owns 9,822 shares of the airline's stock worth $330,000 after purchasing an additional 369 shares during the period. Diversify Wealth Management LLC raised its position in Southwest Airlines by 2.6% during the 4th quarter. Diversify Wealth Management LLC now owns 16,135 shares of the airline's stock valued at $534,000 after purchasing an additional 409 shares in the last quarter. Finally, Independent Advisor Alliance lifted its holdings in shares of Southwest Airlines by 3.4% in the 4th quarter. Independent Advisor Alliance now owns 12,853 shares of the airline's stock worth $432,000 after buying an additional 422 shares during the period. Hedge funds and other institutional investors own 80.82% of the company's stock.

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Southwest Airlines Stock Performance

NYSE:LUV traded up $0.29 during mid-day trading on Tuesday, hitting $25.85. The company's stock had a trading volume of 8,958,966 shares, compared to its average volume of 9,874,168. The business's fifty day moving average is $30.33 and its two-hundred day moving average is $31.44. The stock has a market cap of $14.83 billion, a price-to-earnings ratio of 35.90, a PEG ratio of 0.97 and a beta of 0.94. Southwest Airlines Co. has a 1 year low of $23.58 and a 1 year high of $36.12. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.85.

Southwest Airlines (NYSE:LUV - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The airline reported $0.56 earnings per share for the quarter, topping 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%. Analysts anticipate that Southwest Airlines Co. will post 1.55 EPS for the current fiscal year.

Southwest Airlines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.72 dividend on an annualized basis and a yield of 2.79%. Southwest Airlines's payout ratio is presently 100.00%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Melius upgraded shares of Southwest Airlines from a "sell" rating to a "hold" rating in a report on Thursday, March 20th. Citigroup reduced their price objective on shares of Southwest Airlines from $30.00 to $23.00 and set a "sell" rating for the company in a research note on Monday. JPMorgan Chase & Co. increased their target price on Southwest Airlines from $25.00 to $30.00 and gave the company an "underweight" rating in a research report on Tuesday, March 18th. Bank of America reissued an "underperform" rating and issued a $31.00 price target (down from $33.00) on shares of Southwest Airlines in a research report on Friday, January 17th. Finally, Melius Research upgraded Southwest Airlines from a "sell" rating to a "hold" rating and lifted their target price for the company from $28.00 to $34.00 in a research note on Thursday, March 20th. Six research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $30.88.

Insider Activity at Southwest Airlines

In related news, Director C. David Cush bought 5,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $30.03 per share, for a total transaction of $150,150.00. Following the acquisition, the director now directly owns 19,011 shares in the company, valued at approximately $570,900.33. This trade represents a 35.69 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is owned by corporate insiders.

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.