1832 Asset Management L.P. Purchases New Holdings in Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC)

1832 Asset Management L.P. purchased a new position in shares of Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 89,724 shares of the transportation company’s stock, valued at approximately $13,976,000. 1832 Asset Management L.P. owned approximately 0.18% of Grupo Aeroportuario del Pacífico at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PAC. Sei Investments Co. increased its position in shares of Grupo Aeroportuario del Pacífico by 7.4% in the second quarter. Sei Investments Co. now owns 13,373 shares of the transportation company’s stock worth $2,083,000 after purchasing an additional 927 shares during the period. Dimensional Fund Advisors LP grew its stake in Grupo Aeroportuario del Pacífico by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 138,103 shares of the transportation company’s stock worth $21,515,000 after buying an additional 5,481 shares in the last quarter. American Century Companies Inc. increased its holdings in Grupo Aeroportuario del Pacífico by 6.4% in the 2nd quarter. American Century Companies Inc. now owns 36,486 shares of the transportation company’s stock valued at $5,683,000 after buying an additional 2,198 shares during the period. Financial Advocates Investment Management acquired a new position in shares of Grupo Aeroportuario del Pacífico in the 2nd quarter valued at approximately $347,000. Finally, Eagle Ridge Investment Management lifted its holdings in shares of Grupo Aeroportuario del Pacífico by 0.9% during the 2nd quarter. Eagle Ridge Investment Management now owns 70,794 shares of the transportation company’s stock worth $11,028,000 after acquiring an additional 651 shares during the period. Institutional investors own 11.73% of the company’s stock.

Grupo Aeroportuario del Pacífico Stock Performance

Shares of Grupo Aeroportuario del Pacífico stock opened at $182.62 on Tuesday. The company’s 50 day moving average price is $165.76 and its two-hundred day moving average price is $167.20. The firm has a market capitalization of $9.23 billion, a P/E ratio of 16.31, a P/E/G ratio of 1.63 and a beta of 1.47. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.13 and a quick ratio of 1.13. Grupo Aeroportuario del Pacífico, S.A.B. de C.V. has a fifty-two week low of $107.25 and a fifty-two week high of $197.31.

Grupo Aeroportuario del Pacífico (NYSE:PAC) last released its quarterly earnings data on Monday, July 22nd. The transportation company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $3.01 by ($0.46). Grupo Aeroportuario del Pacífico had a net margin of 29.26% and a return on equity of 47.50%. The firm had revenue of $421.54 million for the quarter. On average, equities analysts forecast that Grupo Aeroportuario del Pacífico, S.A.B. de C.V. will post 9.88 earnings per share for the current fiscal year.

Grupo Aeroportuario del Pacífico Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were paid a $3.8657 dividend. The ex-dividend date was Monday, July 22nd. This represents a dividend yield of 4.7%. This is an increase from Grupo Aeroportuario del Pacífico’s previous semi-annual dividend of $2.09. Grupo Aeroportuario del Pacífico’s dividend payout ratio is currently 33.75%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PAC shares. Bank of America raised shares of Grupo Aeroportuario del Pacífico from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group lifted their price target on Grupo Aeroportuario del Pacífico from $177.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Grupo Aeroportuario del Pacífico in a research report on Thursday, September 5th. Finally, Citigroup upgraded Grupo Aeroportuario del Pacífico to a “strong-buy” rating in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Grupo Aeroportuario del Pacífico has a consensus rating of “Moderate Buy” and a consensus price target of $205.00.

Grupo Aeroportuario del Pacífico Company Profile

Grupo Aeroportuario del Pacífico, SAB. de C.V., together with its subsidiaries, holds concessions to develop, operate, and manage airports in Mexico and Jamaica. The company operates twelve international airports in Guadalajara and Tijuana areas, Mexico; and two international airports in Montego Bay, Jamaica.