Donaldson Capital Management LLC cut its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 78.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,235 shares of the company’s stock after selling 72,805 shares during the period. Donaldson Capital Management LLC’s holdings in Penske Automotive Group were worth $947,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quantbot Technologies LP raised its position in Penske Automotive Group by 194.5% in the first quarter. Quantbot Technologies LP now owns 5,938 shares of the company’s stock worth $277,000 after buying an additional 3,922 shares in the last quarter. Pacer Advisors Inc. raised its position in Penske Automotive Group by 22.1% in the first quarter. Pacer Advisors Inc. now owns 5,230 shares of the company’s stock worth $245,000 after buying an additional 945 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Penske Automotive Group by 1.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 14,540 shares of the company’s stock worth $681,000 after buying an additional 240 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Penske Automotive Group during the first quarter worth $276,000. Finally, Quantitative Investment Management LLC bought a new position in Penske Automotive Group during the first quarter worth $2,012,000. Institutional investors own 42.25% of the company’s stock.
Shares of Penske Automotive Group, Inc. (NYSE:PAG) traded up 1.70% during mid-day trading on Friday, reaching $43.64. The company had a trading volume of 434,540 shares. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 10.76 and a beta of 1.38. Penske Automotive Group, Inc. has a one year low of $29.29 and a one year high of $56.05. The company has a 50 day moving average price of $45.51 and a 200 day moving average price of $49.43.
Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Wednesday, April 26th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.01. The business had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.85 billion. Penske Automotive Group had a return on equity of 19.31% and a net margin of 1.70%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 EPS. On average, analysts anticipate that Penske Automotive Group, Inc. will post $4.30 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Monday, May 22nd will be given a $0.31 dividend. The ex-dividend date is Thursday, May 18th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 2.89%. Penske Automotive Group’s dividend payout ratio is 29.00%.
A number of research firms have recently weighed in on PAG. Gabelli upgraded Penske Automotive Group from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Thursday, April 27th. Zacks Investment Research upgraded Penske Automotive Group from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, April 11th. Finally, Susquehanna Bancshares Inc initiated coverage on Penske Automotive Group in a report on Wednesday, February 1st. They issued a “positive” rating and a $63.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $55.00.
About Penske Automotive Group
Penske Automotive Group, Inc is an international transportation services company. The Company operates automotive and commercial truck dealerships principally in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services principally in Australia and New Zealand.
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