Grupo Aeroportuario Del Pacifico, S.A. de C.V. $PAC Stock Holdings Increased by Lazard Asset Management LLC

Key Points

• Lazard Asset Management increased its Grupo Aeroportuario del Pacífico stake by 1.6% in the first quarter, holding 1.17 million shares worth approximately $289.5 million, or 2.32% of the company.
• PAC recently reported weaker-than-expected quarterly results, with earnings per share of $2.80 versus the $3.10 consensus estimate and revenue of $645.2 million versus expectations of $732.3 million.
• Despite the earnings miss and shares opening at $215.59—near the 12-month low—analysts maintain a “Moderate Buy” consensus; Citigroup upgraded the stock to “buy,” while institutional investors own 11.73% of shares.

Lazard Asset Management LLC increased its stake in shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,172,634 shares of the transportation company's stock after purchasing an additional 18,139 shares during the quarter. Lazard Asset Management LLC owned approximately 2.32% of Grupo Aeroportuario Del Pacifico worth $289,488,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PAC. Itau Unibanco Holding S.A. purchased a new stake in Grupo Aeroportuario Del Pacifico in the 4th quarter worth approximately $42,634,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in shares of Grupo Aeroportuario Del Pacifico during the 3rd quarter valued at $30,453,000. Fisher Funds Management LTD purchased a new position in shares of Grupo Aeroportuario Del Pacifico during the 4th quarter valued at $25,933,000. Janney Montgomery Scott LLC grew its holdings in shares of Grupo Aeroportuario Del Pacifico by 4,465.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 47,842 shares of the transportation company's stock valued at $12,613,000 after acquiring an additional 46,794 shares in the last quarter. Finally, Empirical Finance LLC increased its stake in shares of Grupo Aeroportuario Del Pacifico by 148.1% in the first quarter. Empirical Finance LLC now owns 74,607 shares of the transportation company's stock worth $18,418,000 after acquiring an additional 44,531 shares during the last quarter. 11.73% of the stock is owned by hedge funds and other institutional investors.

Grupo Aeroportuario Del Pacifico Price Performance

NYSE PAC opened at $215.59 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $10.89 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.50 and a beta of 0.93. Grupo Aeroportuario Del Pacifico, S.A. de C.V. has a 12-month low of $206.91 and a 12-month high of $300.41. The company has a 50 day moving average price of $238.59 and a two-hundred day moving average price of $251.43.

Grupo Aeroportuario Del Pacifico (NYSE:PAC - Get Free Report) last released its quarterly earnings results on Tuesday, July 14th. The transportation company reported $2.80 earnings per share for the quarter, missing analysts' consensus estimates of $3.10 by ($0.30). Grupo Aeroportuario Del Pacifico had a net margin of 25.36% and a return on equity of 32.44%. The business had revenue of $645.23 million for the quarter, compared to the consensus estimate of $732.26 million. As a group, equities analysts predict that Grupo Aeroportuario Del Pacifico, S.A. de C.V. will post 11.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on PAC. Citigroup upgraded Grupo Aeroportuario Del Pacifico from a "neutral" rating to a "buy" rating in a report on Monday, July 20th. Weiss Ratings restated a "hold (c)" rating on shares of Grupo Aeroportuario Del Pacifico in a research note 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy".

Grupo Aeroportuario Del Pacifico Company 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.

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