Meeder Asset Management Inc. Grows Stock Position in Southwest Airlines Co. (NYSE:LUV)

Meeder Asset Management Inc. lifted its stake in Southwest Airlines Co. (NYSE:LUV) by 475.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,308 shares of the airline’s stock after buying an additional 23,390 shares during the quarter. Meeder Asset Management Inc.’s holdings in Southwest Airlines were worth $952,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Kestra Investment Management LLC purchased a new stake in Southwest Airlines in the 4th quarter worth approximately $26,000. Raleigh Capital Management Inc. lifted its stake in shares of Southwest Airlines by 186.7% in the 4th 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 period. Sanctuary Wealth Management L.L.C. boosted its holdings in Southwest Airlines by 196.3% during the fourth quarter. Sanctuary Wealth Management L.L.C. now owns 889 shares of the airline’s stock worth $30,000 after buying an additional 589 shares in the last quarter. TD Private Client Wealth LLC grew its position in Southwest Airlines by 41.1% during the third quarter. TD Private Client Wealth LLC now owns 1,184 shares of the airline’s stock valued at $35,000 after buying an additional 345 shares during the period. Finally, VSM Wealth Advisory LLC acquired a new stake in Southwest Airlines during the fourth quarter valued at $42,000. 80.82% of the stock is owned by institutional investors and hedge funds.

Southwest Airlines Price Performance

NYSE:LUV 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. The company has a quick ratio of 0.85, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. Southwest Airlines Co. has a 52 week low of $23.58 and a 52 week high of $36.12. The stock’s fifty day moving average is $31.33 and its two-hundred day moving average is $31.56.

Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, January 30th. The airline reported $0.56 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%. Equities analysts expect that Southwest Airlines Co. will post 1.55 EPS for the current year.

Southwest Airlines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given 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 payout ratio is 100.00%.

Analyst Ratings Changes

A number of brokerages have weighed in on LUV. Barclays upped their price objective on shares of Southwest Airlines from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Morgan Stanley reiterated an “overweight” rating and set a $42.00 price target on shares of Southwest Airlines in a research report on Wednesday, December 11th. Melius upgraded Southwest Airlines from a “sell” rating to a “hold” rating in a research report on Thursday, March 20th. Melius Research raised shares of Southwest Airlines from a “sell” rating to a “hold” rating and lifted their price target for the company from $28.00 to $34.00 in a research note on Thursday, March 20th. Finally, Bank of America restated an “underperform” rating and set a $31.00 price objective (down from $33.00) on shares of Southwest Airlines in a research report on Friday, January 17th. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Southwest Airlines has a consensus rating of “Hold” and an average price target of $32.54.

Insider Activity at Southwest Airlines

In other news, Director C. David Cush bought 5,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $30.03 per share, with a total value of $150,150.00. Following the transaction, the director now directly owns 19,011 shares in the company, valued at $570,900.33. The trade was a 35.69 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.33% of the company’s stock.

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.