Wealthspire Advisors LLC Trims Stake in Southwest Airlines Co. (NYSE:LUV)

Wealthspire Advisors LLC lowered its holdings in Southwest Airlines Co. (NYSE:LUV) by 11.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,014 shares of the airline’s stock after selling 790 shares during the period. Wealthspire Advisors LLC’s holdings in Southwest Airlines were worth $202,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of LUV. TCW Group Inc. grew its stake in shares of Southwest Airlines by 16.2% during the fourth quarter. TCW Group Inc. now owns 254,750 shares of the airline’s stock valued at $8,565,000 after buying an additional 35,592 shares during the last quarter. Cowa LLC purchased a new stake in Southwest Airlines during the 4th quarter valued at about $304,000. Handelsbanken Fonder AB grew its position in Southwest Airlines by 93.4% during the 4th quarter. Handelsbanken Fonder AB now owns 212,308 shares of the airline’s stock worth $7,138,000 after acquiring an additional 102,523 shares during the last quarter. Financial Sense Advisors Inc. purchased a new position in Southwest Airlines in the 4th quarter worth approximately $737,000. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its position in Southwest Airlines by 39.1% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 24,673 shares of the airline’s stock valued at $830,000 after purchasing an additional 6,934 shares during the last quarter. Institutional investors own 80.82% of the company’s stock.

Insider Transactions at Southwest Airlines

In other Southwest Airlines news, insider Linda B. Rutherford sold 3,849 shares of Southwest Airlines stock in a transaction on Friday, December 6th. The shares were sold at an average price of $34.40, for a total value of $132,405.60. Following the transaction, the insider now directly owns 89,376 shares of the company’s stock, valued at approximately $3,074,534.40. The trade was a 4.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Southwest Airlines Price Performance

Shares of Southwest Airlines stock opened at $30.62 on Friday. The stock has a market cap of $18.15 billion, a price-to-earnings ratio of 42.53, a price-to-earnings-growth ratio of 0.97 and a beta of 1.14. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 0.92. The stock has a 50 day moving average price of $31.93 and a 200-day moving average price of $30.94. Southwest Airlines Co. has a one year low of $23.58 and a one year high of $36.12.

Southwest Airlines (NYSE:LUV) last posted 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%. Equities analysts expect that Southwest Airlines Co. will post 1.55 EPS for the current year.

Southwest Airlines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.72 annualized dividend and a dividend yield of 2.35%. Southwest Airlines’s dividend payout ratio is currently 100.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LUV shares. The Goldman Sachs Group reiterated a “sell” rating and set a $28.00 price target on shares of Southwest Airlines in a report on Friday, November 15th. Citigroup reaffirmed a “sell” rating and set a $29.50 price objective (down from $31.50) on shares of Southwest Airlines in a research note on Thursday, January 16th. Morgan Stanley reissued an “overweight” rating and issued a $42.00 target price on shares of Southwest Airlines in a research note on Wednesday, December 11th. Argus upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Tuesday, February 11th. Finally, TD Cowen increased their price objective on Southwest Airlines from $25.00 to $28.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Southwest Airlines currently has an average rating of “Hold” and a consensus price target of $31.78.

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.