Pitcairn Co. Raises Position in Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC)

Pitcairn Co. raised its stake in shares of Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC) by 9.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,331 shares of the transportation company’s stock after purchasing an additional 382 shares during the quarter. Pitcairn Co.’s holdings in Grupo Aeroportuario del Pacífico were worth $754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PAC. Northcape Capital Pty Ltd increased its holdings in shares of Grupo Aeroportuario del Pacífico by 1.6% in the third quarter. Northcape Capital Pty Ltd now owns 164,368 shares of the transportation company’s stock worth $28,603,000 after buying an additional 2,557 shares during the period. Dimensional Fund Advisors LP raised its holdings in Grupo Aeroportuario del Pacífico by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 138,103 shares of the transportation company’s stock worth $21,515,000 after purchasing an additional 5,481 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in Grupo Aeroportuario del Pacífico during the 2nd quarter valued at about $13,976,000. Janney Montgomery Scott LLC lifted its holdings in shares of Grupo Aeroportuario del Pacífico by 3.5% during the third quarter. Janney Montgomery Scott LLC now owns 86,233 shares of the transportation company’s stock valued at $15,006,000 after purchasing an additional 2,918 shares during the last quarter. Finally, Eagle Ridge Investment Management raised its stake in Grupo Aeroportuario del Pacífico by 2.5% during the third quarter. Eagle Ridge Investment Management now owns 72,552 shares of the transportation company’s stock valued at $12,625,000 after buying an additional 1,758 shares during the last quarter. 11.73% of the stock is currently owned by hedge funds and other institutional investors.

Grupo Aeroportuario del Pacífico Stock Up 1.1 %

NYSE PAC opened at $187.08 on Monday. Grupo Aeroportuario del Pacífico, S.A.B. de C.V. has a 52 week low of $139.64 and a 52 week high of $197.31. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 2.08. The company has a fifty day moving average of $177.04 and a two-hundred day moving average of $171.02. The firm has a market capitalization of $9.45 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 1.65 and a beta of 1.46.

Grupo Aeroportuario del Pacífico Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 25th will be given a dividend of $3.7626 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $15.05 annualized dividend and a dividend yield of 8.04%. Grupo Aeroportuario del Pacífico’s dividend payout ratio (DPR) is presently 19.18%.

Wall Street Analyst Weigh In

Several research firms have issued reports on PAC. Citigroup upgraded shares of Grupo Aeroportuario del Pacífico to a “strong-buy” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group lifted their price target on shares of Grupo Aeroportuario del Pacífico from $177.00 to $205.00 and gave the company a “buy” rating in a report on Friday, August 30th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Grupo Aeroportuario del Pacífico in a research note on Thursday, September 5th. 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. Finally, Scotiabank downgraded Grupo Aeroportuario del Pacífico from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $224.00 to $185.00 in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $195.00.

Grupo Aeroportuario del Pacífico 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.