Provident Trust Co Lowers stake in Southwest Airlines Co (LUV)

Southwest Airlines Co (LUV) : Provident Trust Co reduced its stake in Southwest Airlines Co by 1.08% during the most recent quarter end. The investment management company now holds a total of 2,804,868 shares of Southwest Airlines Co which is valued at $125,125,161 after selling 30,565 shares in Southwest Airlines Co , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.Southwest Airlines Co makes up approximately 6.85% of Provident Trust Co’s portfolio.

Southwest Airlines Co closed down -0.6 points or -1.34% at $44.01 with 54,82,771 shares getting traded on Monday. Post opening the session at $44.63, the shares hit an intraday low of $43.925 and an intraday high of $45 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Other Hedge Funds, Including , Wright Investors Service Inc boosted its stake in LUV in the latest quarter, The investment management firm added 17,282 additional shares and now holds a total of 47,430 shares of Southwest Airlines Co which is valued at $2,115,852. Southwest Airlines Co makes up approx 0.84% of Wright Investors Service Inc’s portfolio.Cornerstone Advisors boosted its stake in LUV in the latest quarter, The investment management firm added 32 additional shares and now holds a total of 676 shares of Southwest Airlines Co which is valued at $31,941. Southwest Airlines Co makes up approx 0.03% of Cornerstone Advisors’s portfolio.Reinhart Partners reduced its stake in LUV by selling 4,510 shares or 34.83% in the most recent quarter. The Hedge Fund company now holds 8,440 shares of LUV which is valued at $398,790. Southwest Airlines Co makes up approx 0.04% of Reinhart Partners’s portfolio. Fox Run Management L.l.c. sold out all of its stake in LUV during the most recent quarter. The investment firm sold 9,500 shares of LUV which is valued $448,875.Oregon Public Employees Retirement Fund boosted its stake in LUV in the latest quarter, The investment management firm added 361 additional shares and now holds a total of 68,122 shares of Southwest Airlines Co which is valued at $3,204,459. Southwest Airlines Co makes up approx 0.07% of Oregon Public Employees Retirement Fund’s portfolio.

On the company’s financial health, Southwest Airlines Co reported $0.88 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.84. The company had revenue of $4826.00 million for the quarter, compared to analysts expectations of $4804.75 million. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS.

Many Wall Street Analysts have commented on Southwest Airlines Co. Company shares were Upgraded by Barclays on Apr 15, 2016 to ” Equal Weight”, Firm has raised the Price Target to $ 48 from a previous price target of $41 .

Southwest Airlines Co. operates Southwest Airlines (Southwest). Southwest is a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company serves around 93 destinations in 40 states and runs international services to Montego Bay Nassau Oranjestad Cabo San Lucas/Los Cabos Cancun Mexico City and Punta Cana. It serves around 17 non-stop destinations and 581 non-stop city pairs. It operates around 665 Boeing 737 aircrafts. It provides several products such as Business Select Fly By Priority Lanes and SWABIZ. Its Website southwest.com enables purchasing and managing travel online. It offers southwest.com and swabiz.com in a translated Spanish version. Southwest provides inflight satellite-based wireless fidelity (Wi-Fi) service and live television. Its service offerings include EarlyBird Check-In Pets Are Welcome on Southwest (P.A.W.S.) products Automated Outbound Messaging (AOM) service and southwest.com/rebook.

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