Empirical Finance LLC Boosts Stake in Grupo Aeroportuario del Centro Norte S.A.B. de C.V. $OMAB

Empirical Finance LLC lifted its stake in shares of Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (NASDAQ:OMAB) by 74.6% in the first quarter, HoldingsChannel reports. The fund owned 168,343 shares of the transportation company’s stock after acquiring an additional 71,924 shares during the period. Grupo Aeroportuario del Centro Norte makes up approximately 0.9% of Empirical Finance LLC’s holdings, making the stock its 17th largest holding. Empirical Finance LLC’s holdings in Grupo Aeroportuario del Centro Norte were worth $19,314,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new stake in Grupo Aeroportuario del Centro Norte in the 1st quarter worth approximately $591,000. Quantbot Technologies LP bought a new position in Grupo Aeroportuario del Centro Norte during the second quarter valued at $56,000. EverSource Wealth Advisors LLC grew its stake in shares of Grupo Aeroportuario del Centro Norte by 288.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the transportation company’s stock worth $39,000 after buying an additional 271 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Grupo Aeroportuario del Centro Norte in the 2nd quarter worth about $208,000. Finally, Amundi lifted its holdings in shares of Grupo Aeroportuario del Centro Norte by 34.6% in the 2nd quarter. Amundi now owns 1,870 shares of the transportation company’s stock valued at $203,000 after acquiring an additional 481 shares during the last quarter. 9.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. HSBC raised Grupo Aeroportuario del Centro Norte from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $112.00 to $134.00 in a research note on Thursday, April 16th. JPMorgan Chase & Co. raised Grupo Aeroportuario del Centro Norte from an “underweight” rating to a “neutral” rating in a research report on Wednesday. Wall Street Zen lowered Grupo Aeroportuario del Centro Norte from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Citigroup upgraded Grupo Aeroportuario del Centro Norte from a “neutral” rating to a “buy” rating in a research report on Friday, May 8th. Finally, Zacks Research upgraded shares of Grupo Aeroportuario del Centro Norte from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Grupo Aeroportuario del Centro Norte has an average rating of “Hold” and an average price target of $134.00.

Grupo Aeroportuario del Centro Norte Stock Performance

Shares of Grupo Aeroportuario del Centro Norte stock opened at $103.43 on Friday. Grupo Aeroportuario del Centro Norte S.A.B. de C.V. has a 52 week low of $95.69 and a 52 week high of $134.99. The company has a market capitalization of $4.40 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 1.35 and a beta of 0.60. The stock’s fifty day moving average is $105.85 and its two-hundred day moving average is $111.82. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.81.

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) last posted its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.41 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 during the quarter, compared to analysts’ expectations of $199.73 million. As a group, analysts expect that Grupo Aeroportuario del Centro Norte S.A.B. de C.V. will post 6.97 earnings per share for the current year.

Grupo Aeroportuario del Centro Norte Dividend Announcement

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

About Grupo Aeroportuario del Centro Norte

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.