Empowered Funds LLC Buys 68,212 Shares of Grupo Aeroportuario del Centro Norte S.A.B. de C.V. $OMAB

Key Points

• Empowered Funds increased its OMAB stake by 68.1% in the first quarter, buying 68,212 additional shares and bringing its holdings to 168,401 shares valued at approximately $19.3 million.
• Analyst sentiment remains mixed: HSBC and Citigroup upgraded the stock to “Buy,” while others maintained or lowered ratings. The consensus rating is “Hold”, with a price target of $134.
• OMAB reported quarterly earnings of $1.74 per share, beating estimates of $1.69, while revenue of $255.27 million also exceeded expectations. Shares opened at $108.27, and the company recently paid a $2.9165-per-share dividend.

Empowered Funds LLC grew its stake in shares of Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (NASDAQ:OMAB - Free Report) by 68.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 168,401 shares of the transportation company's stock after buying an additional 68,212 shares during the period. Empowered Funds LLC owned 0.40% of Grupo Aeroportuario del Centro Norte worth $19,321,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Triumph Capital Management purchased a new position in Grupo Aeroportuario del Centro Norte during the third quarter valued at approximately $30,000. EverSource Wealth Advisors LLC lifted its stake in Grupo Aeroportuario del Centro Norte by 288.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the transportation company's stock worth $39,000 after purchasing an additional 271 shares in the last quarter. Quantbot Technologies LP bought a new position in Grupo Aeroportuario del Centro Norte in the 2nd quarter valued at $56,000. Atlas Capital Advisors Inc. bought a new position in Grupo Aeroportuario del Centro Norte in the 4th quarter valued at $61,000. Finally, Fifth Third Bancorp grew its position in shares of Grupo Aeroportuario del Centro Norte by 22.3% during the 4th quarter. Fifth Third Bancorp now owns 791 shares of the transportation company's stock valued at $86,000 after purchasing an additional 144 shares in the last quarter. 9.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Grupo Aeroportuario del Centro Norte from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. HSBC raised Grupo Aeroportuario del Centro Norte from a "hold" rating to a "buy" rating and lifted their price objective for the company from $112.00 to $134.00 in a research note on Thursday, April 16th. Zacks Research upgraded Grupo Aeroportuario del Centro Norte from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 25th. Weiss Ratings cut Grupo Aeroportuario del Centro Norte from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, May 1st. Finally, Citigroup upgraded Grupo Aeroportuario del Centro Norte from a "neutral" rating to a "buy" rating in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Grupo Aeroportuario del Centro Norte has an average rating of "Hold" and a consensus price target of $134.00.

Grupo Aeroportuario del Centro Norte Stock Up 3.3%

Shares of NASDAQ:OMAB opened at $108.27 on Wednesday. The firm has a market capitalization of $4.61 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 1.36 and a beta of 0.60. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.12 and a current ratio of 1.12. Grupo Aeroportuario del Centro Norte S.A.B. de C.V. has a 52-week low of $95.69 and a 52-week high of $134.99. The firm has a fifty day moving average of $105.95 and a 200 day moving average of $111.76.

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The transportation company reported $1.74 earnings per share for the quarter, beating analysts' consensus estimates of $1.69 by $0.05. Grupo Aeroportuario del Centro Norte had a return on equity of 49.46% and a net margin of 32.67%.The business had revenue of $255.27 million for the quarter, compared to the consensus estimate of $227.38 million. As a group, research analysts anticipate that Grupo Aeroportuario del Centro Norte S.A.B. de C.V. will post 6.93 EPS for the current fiscal year.

Grupo Aeroportuario del Centro Norte Dividend Announcement

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

Grupo Aeroportuario del Centro Norte Profile

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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