Fisher Funds Management LTD Boosts Stake in Grupo Aeroportuario del Centro Norte S.A.B. de C.V. $OMAB

Key Points

• Fisher Funds Management increased its stake in Grupo Aeroportuario del Centro Norte by 19.8% in the first quarter, bringing its holdings to 148,551 shares worth about $17.0 million.
• The company reported mixed quarterly results: EPS of $1.41 missed estimates, but revenue of $213.33 million came in above expectations. Analysts still forecast full-year EPS of 6.95.
• OMAB recently paid a $2.9165 dividend, while analyst sentiment remains cautious overall with a consensus rating of Hold and an average price target of $134.

Fisher Funds Management LTD lifted its stake in shares of Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (NASDAQ:OMAB - Free Report) by 19.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 148,551 shares of the transportation company's stock after acquiring an additional 24,583 shares during the period. Fisher Funds Management LTD owned approximately 0.35% of Grupo Aeroportuario del Centro Norte worth $17,043,000 as of its most recent SEC filing.

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

Grupo Aeroportuario del Centro Norte Stock Performance

NASDAQ OMAB opened at $114.00 on Monday. The firm has a market cap of $4.85 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 1.50 and a beta of 0.62. Grupo Aeroportuario del Centro Norte S.A.B. de C.V. has a 1-year low of $95.69 and a 1-year high of $134.99. The stock has a 50-day moving average of $106.99 and a 200-day moving average of $111.69. 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 (NASDAQ:OMAB - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.08). Grupo Aeroportuario del Centro Norte had a return on equity of 49.46% and a net margin of 32.67%.The company had revenue of $213.33 million for the quarter, compared to the consensus estimate of $199.73 million. As a group, sell-side analysts forecast that Grupo Aeroportuario del Centro Norte S.A.B. de C.V. will post 6.95 EPS for the current year.

Grupo Aeroportuario del Centro Norte Announces Dividend

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

Analyst Ratings Changes

OMAB has been the topic of a number of research reports. 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. Wall Street Zen lowered Grupo Aeroportuario del Centro Norte from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Zacks Research downgraded shares of Grupo Aeroportuario del Centro Norte from a "hold" rating to a "strong sell" rating in a research note on Wednesday, May 27th. Citigroup upgraded shares of Grupo Aeroportuario del Centro Norte from a "neutral" rating to a "buy" rating in a report on Friday, May 8th. Finally, HSBC raised shares of Grupo Aeroportuario del Centro Norte from a "hold" rating to a "buy" rating and upped their price objective for the company from $112.00 to $134.00 in a research note on Thursday, April 16th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Grupo Aeroportuario del Centro Norte currently has an average rating of "Hold" and a consensus price target of $134.00.

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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