Lazard Asset Management LLC Grows Stock Holdings in Danaos Corporation $DAC

Key Points

• Lazard Asset Management increased its Danaos stake by 206.4% in the first quarter, bringing its holdings to 15,815 shares valued at approximately $1.78 million. Institutional investors and hedge funds collectively own 19.01% of the company.
• Danaos reported quarterly earnings of $7.29 per share, exceeding estimates of $6.80, while revenue of $274.37 million also surpassed expectations. The company declared a quarterly dividend of $0.90 per share, representing a 2.5% annualized yield.
• Analyst sentiment remains positive, with recent upgrades to “strong buy” and “buy” ratings; however, the consensus price target of $105 is below the stock’s reported price of $142.08.

Lazard Asset Management LLC increased its holdings in shares of Danaos Corporation (NYSE:DAC - Free Report) by 206.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,815 shares of the shipping company's stock after purchasing an additional 10,654 shares during the period. Lazard Asset Management LLC owned approximately 0.09% of Danaos worth $1,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DAC. Kestra Advisory Services LLC purchased a new stake in Danaos in the fourth quarter valued at $43,000. Ascentis Independent Advisors purchased a new position in shares of Danaos during the 1st quarter valued at about $56,000. Raymond James Financial Inc. acquired a new position in shares of Danaos in the 2nd quarter valued at about $64,000. Tower Research Capital LLC TRC acquired a new position in shares of Danaos in the 2nd quarter valued at about $67,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Danaos by 165.0% in the fourth quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company's stock worth $73,000 after buying an additional 485 shares during the last quarter. 19.01% of the stock is currently owned by institutional investors and hedge funds.

Danaos Price Performance

NYSE:DAC opened at $142.08 on Tuesday. Danaos Corporation has a 52 week low of $83.56 and a 52 week high of $143.48. The stock's fifty day moving average is $129.53 and its two-hundred day moving average is $119.49. The company has a market capitalization of $2.59 billion, a P/E ratio of 5.01 and a beta of 0.89. The company has a quick ratio of 8.40, a current ratio of 8.66 and a debt-to-equity ratio of 0.26.

Danaos (NYSE:DAC - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The shipping company reported $7.29 earnings per share for the quarter, topping analysts' consensus estimates of $6.80 by $0.49. The business had revenue of $274.37 million during the quarter, compared to analysts' expectations of $258.27 million. Danaos had a return on equity of 13.18% and a net margin of 49.85%.

Danaos Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Shareholders of record on Tuesday, July 21st were given a dividend of $0.90 per share. The ex-dividend date was Tuesday, July 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.5%. Danaos's dividend payout ratio (DPR) is currently 12.70%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Weiss Ratings raised Danaos from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday, July 28th. Fearnley Fonds raised Danaos from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $105.00.

About Danaos

Danaos Corporation is a leading independent owner and manager of containerships, specializing in long-term charters of modern vessels to major liner companies worldwide. The company's core services include vessel acquisition and sale, technical and crew management, and commercial chartering, all aimed at supporting global containerized trade. Danaos leverages its in-house expertise in operations, maintenance and regulatory compliance to ensure reliable and efficient fleet performance.

Founded in 1972 by Dr.

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