Grupo Aeroportuario Del Pacifico, S.A. de C.V. $PAC Shares Acquired by Empowered Funds LLC

Key Points

• Empowered Funds LLC increased its Grupo Aeroportuario del Pacifico stake by 148.1% in the first quarter, holding 74,607 shares worth approximately $18.4 million. Institutional investors collectively own 11.73% of the company.
• PAC was trading at $216.51, near its 52-week low of $206.91 and well below its 52-week high of $300.41. The stock has declined below both its 50-day and 200-day moving averages.
• The company reported quarterly EPS of $2.80, missing estimates of $3.10, while revenue of $645.23 million also fell short of expectations. Despite the earnings miss, Citigroup upgraded the stock to “buy,” contributing to a “Moderate Buy” consensus rating.

Empowered Funds LLC lifted its stake in shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC - Free Report) by 148.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,607 shares of the transportation company's stock after purchasing an additional 44,531 shares during the period. Empowered Funds LLC owned approximately 0.15% of Grupo Aeroportuario Del Pacifico worth $18,418,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PAC. EverSource Wealth Advisors LLC raised its holdings in Grupo Aeroportuario Del Pacifico by 65.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 164 shares of the transportation company's stock worth $43,000 after buying an additional 65 shares during the period. Measured Wealth Private Client Group LLC purchased a new position in shares of Grupo Aeroportuario Del Pacifico in the third quarter worth approximately $43,000. Kestra Advisory Services LLC acquired a new stake in shares of Grupo Aeroportuario Del Pacifico during the fourth quarter valued at approximately $54,000. Van ECK Associates Corp raised its holdings in shares of Grupo Aeroportuario Del Pacifico by 20.6% during the third quarter. Van ECK Associates Corp now owns 334 shares of the transportation company's stock valued at $79,000 after acquiring an additional 57 shares during the period. Finally, Allworth Financial LP lifted its position in shares of Grupo Aeroportuario Del Pacifico by 92.0% in the 4th quarter. Allworth Financial LP now owns 311 shares of the transportation company's stock valued at $82,000 after acquiring an additional 149 shares in the last quarter. Institutional investors and hedge funds own 11.73% of the company's stock.

Grupo Aeroportuario Del Pacifico Trading Up 0.1%

NYSE:PAC opened at $216.51 on Wednesday. The stock has a market cap of $10.94 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 1.54 and a beta of 0.93. Grupo Aeroportuario Del Pacifico, S.A. de C.V. has a fifty-two week low of $206.91 and a fifty-two week high of $300.41. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.84 and a quick ratio of 0.84. The stock's 50-day moving average is $237.47 and its two-hundred day moving average is $250.73.

Grupo Aeroportuario Del Pacifico (NYSE:PAC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 14th. The transportation company reported $2.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.10 by ($0.30). The company had revenue of $645.23 million during the quarter, compared to analysts' expectations of $732.26 million. Grupo Aeroportuario Del Pacifico had a return on equity of 32.44% and a net margin of 25.36%. As a group, equities research analysts forecast that Grupo Aeroportuario Del Pacifico, S.A. de C.V. will post 11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Citigroup upgraded shares of Grupo Aeroportuario Del Pacifico from a "neutral" rating to a "buy" rating in a research report on Monday, July 20th. Weiss Ratings restated a "hold (c)" rating on shares of Grupo Aeroportuario Del Pacifico in a report on Wednesday, June 3rd. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

Grupo Aeroportuario Del Pacifico Profile

Grupo Aeroportuario del Pacífico, SAB. de C.V. NYSE: PAC, commonly known as GAP, is a leading airport operator in Mexico. Established in 1998 as part of the federal government’s airport privatization program, GAP holds long‐term concession agreements—typically 50 years—to manage, develop and operate airports under a public–private partnership model. Through these concessions, the company undertakes terminal expansions, runway maintenance and the modernization of navigation and security systems.

The company’s portfolio comprises 12 airports across Mexico’s Pacific and western regions, including major hubs such as Guadalajara, Tijuana, Los Cabos, Puerto Vallarta and Mazatlán, as well as regional facilities in Aguascalientes, Morelia and La Paz.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.