Empirical Finance LLC Boosts Stock Position in Grupo Aeroportuario del Centro Norte S.A.B. de C.V. $OMAB

Key Points

• Empirical Finance LLC increased its stake in Grupo Aeroportuario del Centro Norte by 74.6% in the first quarter, bringing its holdings to 168,343 shares worth about $19.3 million.
• The company’s latest earnings showed a mixed result: EPS of $1.41 missed analyst estimates, but revenue of $213.33 million topped expectations.
• Analysts remain split on OMAB, with a consensus rating of “Hold” and an average price target of $134; Citigroup and HSBC recently upgraded the stock to Buy.

Empirical Finance LLC raised its stake in shares of Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (NASDAQ:OMAB - Free Report) by 74.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 168,343 shares of the transportation company's stock after buying an additional 71,924 shares during the quarter. Grupo Aeroportuario del Centro Norte comprises about 0.9% of Empirical Finance LLC's investment portfolio, making the stock its 17th biggest holding. Empirical Finance LLC owned about 0.40% of Grupo Aeroportuario del Centro Norte worth $19,314,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its holdings in shares of Grupo Aeroportuario del Centro Norte by 13.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,130 shares of the transportation company's stock valued at $123,000 after acquiring an additional 136 shares in the last quarter. Fifth Third Bancorp boosted its stake in Grupo Aeroportuario del Centro Norte by 22.3% in the 4th quarter. Fifth Third Bancorp now owns 791 shares of the transportation company's stock worth $86,000 after purchasing an additional 144 shares in the last quarter. Vident Advisory LLC grew its position in Grupo Aeroportuario del Centro Norte by 1.6% during the 4th quarter. Vident Advisory LLC now owns 11,809 shares of the transportation company's stock valued at $1,285,000 after purchasing an additional 188 shares during the last quarter. O Brien Greene & Co. Inc grew its position in Grupo Aeroportuario del Centro Norte by 3.4% during the 4th quarter. O Brien Greene & Co. Inc now owns 6,147 shares of the transportation company's stock valued at $669,000 after purchasing an additional 200 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in Grupo Aeroportuario del Centro Norte by 5.9% during the 4th quarter. ProShare Advisors LLC now owns 3,838 shares of the transportation company's stock valued at $417,000 after purchasing an additional 215 shares in the last quarter. 9.53% of the stock is owned by institutional investors.

Grupo Aeroportuario del Centro Norte Trading Down 0.7%

Shares of OMAB stock opened at $103.43 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.81. Grupo Aeroportuario del Centro Norte S.A.B. de C.V. has a 12-month low of $95.69 and a 12-month high of $134.99. The stock has a market capitalization of $4.40 billion, a P/E ratio of 17.30, a P/E/G ratio of 1.35 and a beta of 0.60. The firm's 50 day moving average is $105.85 and its 200 day moving average is $111.82.

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB - Get Free Report) last announced its earnings results on Tuesday, April 28th. The transportation company reported $1.41 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.08). Grupo Aeroportuario del Centro Norte had a net margin of 32.67% and a return on equity of 49.46%. The company had revenue of $213.33 million for the quarter, compared to analysts' expectations of $199.73 million. Research analysts expect that Grupo Aeroportuario del Centro Norte S.A.B. de C.V. will post 6.97 earnings per share for the current year.

Grupo Aeroportuario del Centro Norte Announces Dividend

The company also recently declared a dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 26th were paid a dividend of $2.9165 per share. This represents a dividend yield of 571.0%. The ex-dividend date was Tuesday, May 26th. Grupo Aeroportuario del Centro Norte's payout ratio is currently 85.12%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OMAB. Citigroup upgraded shares of Grupo Aeroportuario del Centro Norte from a "neutral" rating to a "buy" rating in a research note on Friday, May 8th. Weiss Ratings lowered shares of Grupo Aeroportuario del Centro Norte from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, May 1st. Wall Street Zen cut Grupo Aeroportuario del Centro Norte from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. JPMorgan Chase & Co. upgraded Grupo Aeroportuario del Centro Norte from an "underweight" rating to a "neutral" rating in a research note on Wednesday. Finally, HSBC raised Grupo Aeroportuario del Centro Norte from a "hold" rating to a "buy" rating and lifted their target price for the stock from $112.00 to $134.00 in a report on Thursday, April 16th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $134.00.

About Grupo Aeroportuario del Centro Norte

Grupo Aeroportuario del Centro Norte, SAB. de C.V. (OMAB) is a Mexican airport operator that develops, manages and operates airports under long‐term concessions granted by the Federal Government of Mexico. The company's core business covers all aspects of airport operations, including passenger processing, airfield services, security, ground handling, cargo handling and commercial activities such as retail, food and beverage, and parking.

OMA currently holds concession contracts for 13 airports in central and northern Mexico, serving key markets such as Monterrey, Ciudad Juárez, Culiacán, Hermosillo and Torreón.

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