Russell Investments Group Ltd. Trims Stock Holdings in Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (NASDAQ:OMAB)

Posted by Defense World Staff on May 13th, 2023

Russell Investments Group Ltd. reduced its stake in Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (NASDAQ:OMAB – Get Rating) by 12.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 168,582 shares of the transportation company’s stock after selling 23,358 shares during the period. Russell Investments Group Ltd. owned approximately 0.40% of Grupo Aeroportuario del Centro Norte worth $10,425,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Royal Bank of Canada increased its stake in Grupo Aeroportuario del Centro Norte by 62.7% during the third quarter. Royal Bank of Canada now owns 532 shares of the transportation company’s stock worth $27,000 after purchasing an additional 205 shares during the period. Atlas Capital Advisors LLC purchased a new stake in Grupo Aeroportuario del Centro Norte during the third quarter worth about $28,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Grupo Aeroportuario del Centro Norte during the third quarter worth approximately $3,512,000. Tower Research Capital LLC TRC purchased a new stake in shares of Grupo Aeroportuario del Centro Norte during the third quarter worth approximately $47,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Grupo Aeroportuario del Centro Norte during the fourth quarter worth approximately $101,000. 9.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Scotiabank upgraded shares of Grupo Aeroportuario del Centro Norte from an “underperform” rating to a “sector perform” rating in a research note on Monday, March 13th. StockNews.com initiated coverage on shares of Grupo Aeroportuario del Centro Norte in a research note on Thursday, March 16th. They set a “buy” rating on the stock. The Goldman Sachs Group upped their price target on Grupo Aeroportuario del Centro Norte from $64.00 to $76.00 and gave the company a “buy” rating in a report on Friday, March 3rd. JPMorgan Chase & Co. downgraded Grupo Aeroportuario del Centro Norte from a “neutral” rating to an “underweight” rating in a report on Thursday, March 30th. Finally, Citigroup initiated coverage on Grupo Aeroportuario del Centro Norte in a report on Tuesday, April 18th. They issued a “sell” rating for the company. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Grupo Aeroportuario del Centro Norte presently has an average rating of “Hold” and an average target price of $68.33.

Grupo Aeroportuario del Centro Norte Price Performance

OMAB stock opened at $87.59 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $3.77 billion, a P/E ratio of 19.38, a PEG ratio of 6.63 and a beta of 1.34. The business has a 50 day simple moving average of $85.38 and a 200-day simple moving average of $75.23. Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. has a twelve month low of $46.53 and a twelve month high of $91.73.

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The transportation company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.22. The firm had revenue of $186.30 million during the quarter. Grupo Aeroportuario del Centro Norte had a net margin of 32.68% and a return on equity of 55.32%. As a group, equities analysts anticipate that Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. will post 4.28 EPS for the current year.

Grupo Aeroportuario del Centro Norte Dividend Announcement

The firm also recently declared a — dividend, which was paid on Friday, March 10th. Investors of record on Friday, March 3rd were paid a dividend of $1.6197 per share. This represents a yield of 2.7%. The ex-dividend date was Thursday, March 2nd. Grupo Aeroportuario del Centro Norte’s dividend payout ratio is currently 77.21%.

Grupo Aeroportuario del Centro Norte Company Profile

(Get Rating)

Grupo Aeroportuario del Centro Norte SAB de CV is a holding company, which engages in operating and managing airports. It operates through the following segments: Metropolitan, Tourist, Regional, Border, Hotel, Industrial Park, and Other. The Metropolitan segment handles operations of the Monterrey airport.