Walden Wealth Partners LLC Invests $267,000 in Penske Automotive Group, Inc. (NYSE:PAG)

Walden Wealth Partners LLC acquired a new position in Penske Automotive Group, Inc. (NYSE:PAG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,663 shares of the company’s stock, valued at approximately $267,000.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Penske Automotive Group by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 2,036,010 shares of the company’s stock worth $326,800,000 after acquiring an additional 5,399 shares during the period. Burgundy Asset Management Ltd. grew its holdings in Penske Automotive Group by 3.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 755,463 shares of the company’s stock worth $121,259,000 after acquiring an additional 27,055 shares during the period. Goldman Sachs Group Inc. grew its holdings in Penske Automotive Group by 6.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 300,476 shares of the company’s stock worth $48,229,000 after acquiring an additional 18,310 shares during the period. Invesco Ltd. grew its holdings in Penske Automotive Group by 164.3% during the third quarter. Invesco Ltd. now owns 292,758 shares of the company’s stock worth $48,908,000 after acquiring an additional 181,995 shares during the period. Finally, Norges Bank acquired a new stake in Penske Automotive Group during the fourth quarter worth about $30,844,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PAG has been the topic of several analyst reports. Morgan Stanley raised their target price on Penske Automotive Group from $107.00 to $115.00 and gave the stock an “underweight” rating in a report on Thursday, February 29th. Bank of America raised their price objective on Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $163.20.

Penske Automotive Group Price Performance

PAG traded up $2.74 during trading on Monday, hitting $147.51. The company’s stock had a trading volume of 174,898 shares, compared to its average volume of 193,154. The company has a current ratio of 0.98, a quick ratio of 0.23 and a debt-to-equity ratio of 0.30. Penske Automotive Group, Inc. has a twelve month low of $137.95 and a twelve month high of $180.84. The business’s fifty day simple moving average is $152.27 and its 200 day simple moving average is $153.42. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 10.03 and a beta of 1.19.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $3.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.35 by ($0.14). The firm had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.52 billion. Penske Automotive Group had a return on equity of 21.72% and a net margin of 3.27%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.31 earnings per share. On average, equities research analysts forecast that Penske Automotive Group, Inc. will post 13.37 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Monday, May 20th were paid a $0.96 dividend. The ex-dividend date of this dividend was Friday, May 17th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.60%. Penske Automotive Group’s payout ratio is currently 26.70%.

Penske Automotive Group Profile

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.