Prudential Financial Inc. Has $10.84 Million Stake in Southwest Airlines Co. $LUV

by · The Markets Daily

Prudential Financial Inc. grew its stake in shares of Southwest Airlines Co. (NYSE:LUV – Free Report) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 334,294 shares of the airline’s stock after buying an additional 6,272 shares during the period. Prudential Financial Inc. owned approximately 0.06% of Southwest Airlines worth $10,844,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Southwest Airlines in the 2nd quarter valued at approximately $31,000. Pandora Wealth Inc. bought a new stake in Southwest Airlines in the first quarter valued at approximately $34,000. Hantz Financial Services Inc. increased its stake in Southwest Airlines by 81.4% in the second quarter. Hantz Financial Services Inc. now owns 1,056 shares of the airline’s stock valued at $34,000 after purchasing an additional 474 shares in the last quarter. Cheviot Value Management LLC acquired a new stake in Southwest Airlines in the first quarter worth $42,000. Finally, Armstrong Advisory Group Inc. acquired a new stake in Southwest Airlines in the second quarter worth $42,000. 80.82% of the stock is owned by institutional investors.

Southwest Airlines Price Performance

LUV stock opened at $35.07 on Friday. The stock has a 50-day moving average price of $32.44 and a two-hundred day moving average price of $32.51. Southwest Airlines Co. has a 1 year low of $23.82 and a 1 year high of $37.96. The stock has a market cap of $18.13 billion, a PE ratio of 53.95, a price-to-earnings-growth ratio of 0.75 and a beta of 1.23. The company has a current ratio of 0.49, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52.

Southwest Airlines (NYSE:LUV – Get Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The airline reported ($0.38) earnings per share for the quarter. The firm had revenue of $6.17 billion for the quarter. Southwest Airlines had a return on equity of 6.39% and a net margin of 1.38%. Equities analysts forecast that Southwest Airlines Co. will post 1.55 EPS for the current fiscal year.

Southwest Airlines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, December 26th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, December 26th. This represents a $0.72 dividend on an annualized basis and a yield of 2.1%. Southwest Airlines’s dividend payout ratio is 110.77%.

Analysts Set New Price Targets

LUV has been the subject of several research analyst reports. Sanford C. Bernstein boosted their price target on shares of Southwest Airlines from $31.00 to $34.00 and gave the company a “market perform” rating in a report on Thursday, November 20th. UBS Group decreased their target price on Southwest Airlines from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Wall Street Zen upgraded Southwest Airlines from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. JPMorgan Chase & Co. raised their price target on Southwest Airlines from $35.00 to $36.00 and gave the stock an “underweight” rating in a research report on Friday, October 24th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Southwest Airlines in a report on Tuesday. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $33.80.

Check Out Our Latest Analysis 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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