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 0.1% during the most recent quarter end. The investment management company now holds a total of 2,801,955 shares of Southwest Airlines Co which is valued at $100,534,145 after selling 2,913 shares in Southwest Airlines Co , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Southwest Airlines Co makes up approximately 5.39% of Provident Trust Co’s portfolio.

Other Hedge Funds, Including , Hussman Strategic Advisors added LUV to its portfolio by purchasing 100,000 company shares during the most recent quarter which is valued at $3,588,000. Southwest Airlines Co makes up approx 0.53% of Hussman Strategic Advisors’s portfolio.Tocqueville Asset Management reduced its stake in LUV by selling 5,000 shares or 12.71% in the most recent quarter. The Hedge Fund company now holds 34,346 shares of LUV which is valued at $1,271,145. Southwest Airlines Co makes up approx 0.02% of Tocqueville Asset Management’s portfolio.Reinhart Partners reduced its stake in LUV by selling 840 shares or 9.95% in the most recent quarter. The Hedge Fund company now holds 7,600 shares of LUV which is valued at $287,508. Southwest Airlines Co makes up approx 0.03% of Reinhart Partners’s portfolio.Alpha Windward reduced its stake in LUV by selling 46 shares or 8.9% in the most recent quarter. The Hedge Fund company now holds 471 shares of LUV which is valued at $19,094. Southwest Airlines Co makes up approx 0.01% of Alpha Windward’s portfolio.

Southwest Airlines Co opened for trading at $36.21 and hit $36.81 on the upside on Thursday, eventually ending the session at $36.42, with a gain of 1.51% or 0.54 points. The heightened volatility saw the trading volume jump to 73,66,166 shares. Company has a market cap of $22,589 M.

On the company’s financial health, Southwest Airlines Co reported $1.19 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Jul 21, 2016. Analyst had a consensus of $1.21. The company had revenue of $5384.00 million for the quarter, compared to analysts expectations of $5398.38 million. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS.

Many Wall Street Analysts have commented on Southwest Airlines Co. Southwest Airlines Co was Downgraded by JP Morgan to ” Neutral” on Jul 27, 2016. Southwest Airlines Co was Downgraded by Argus to ” Hold” on Jul 25, 2016. Shares were Reiterated by Cowen on Jul 22, 2016 to “Outperform” and Lowered the Price Target to $ 47 from a previous price target of $49 .

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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