Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC) Position Reduced by Strs Ohio

Strs Ohio reduced its position in shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 269,000 shares of the transportation company’s stock after selling 3,000 shares during the period. Strs Ohio owned 0.51% of Grupo Aeroportuario Del Pacifico, S.A. de C.V. worth $30,208,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in PAC. Comerica Bank increased its stake in shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. by 12.6% in the fourth quarter. Comerica Bank now owns 2,697 shares of the transportation company’s stock worth $205,000 after buying an additional 301 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. during the second quarter worth $210,000. Adalta Capital Management LLC purchased a new stake in shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. during the first quarter worth $267,000. First Trust Advisors LP purchased a new stake in shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. during the first quarter worth $285,000. Finally, World Asset Management Inc increased its stake in shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. by 0.8% in the first quarter. World Asset Management Inc now owns 2,970 shares of the transportation company’s stock worth $288,000 after buying an additional 23 shares in the last quarter. Institutional investors and hedge funds own 6.30% of the company’s stock.

Shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. (PAC) opened at 110.39 on Friday. Grupo Aeroportuario Del Pacifico, S.A. de C.V. has a 1-year low of $72.52 and a 1-year high of $119.87. The company’s 50-day moving average price is $113.79 and its 200-day moving average price is $101.59. The company has a market capitalization of $5.80 billion, a PE ratio of 23.49 and a beta of 0.29.

Grupo Aeroportuario Del Pacifico, S.A. de C.V. declared that its Board of Directors has initiated a stock buyback plan on Wednesday, April 26th that allows the company to repurchase 995,000,000 outstanding shares. This repurchase authorization allows the transportation company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

The firm also recently declared a None dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, August 14th will be paid a $1.599 dividend. The ex-dividend date is Thursday, August 10th. This is a positive change from Grupo Aeroportuario Del Pacifico, S.A. de C.V.’s previous None dividend of $0.91. This represents a yield of 2.79%. Grupo Aeroportuario Del Pacifico, S.A. de C.V.’s payout ratio is 86.23%.

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A number of analysts recently weighed in on PAC shares. Zacks Investment Research upgraded shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. from a “sell” rating to a “buy” rating and set a $128.00 price target on the stock in a research report on Tuesday, August 1st. BidaskClub cut Grupo Aeroportuario Del Pacifico, S.A. de C.V. from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. UBS AG cut Grupo Aeroportuario Del Pacifico, S.A. de C.V. from a “neutral” rating to a “sell” rating in a research note on Wednesday, May 17th. Finally, Morgan Stanley cut Grupo Aeroportuario Del Pacifico, S.A. de C.V. from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, May 30th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $106.50.

About Grupo Aeroportuario Del Pacifico, S.A. de C.V.

Grupo Aeroportuario del Pacifico, SAB. de C.V. is a holding company. The Company holds concessions to operate, maintain and develop approximately 10 international airports in the Pacific and Central regions of Mexico, and an international airport in Jamaica. The Company’s segments include Guadalajara, Tijuana, Puerto Vallarta, San Jose del Cabo, Montego Bay, Hermosillo, Bajio, Other Airports and Others Companies.

Institutional Ownership by Quarter for Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC)

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