Penske Automotive Group, Inc. (NYSE:PAG) Shares Bought by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. grew its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 7.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,779 shares of the company’s stock after buying an additional 4,912 shares during the period. Bahl & Gaynor Inc.’s holdings in Penske Automotive Group were worth $10,980,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Edgestream Partners L.P. raised its stake in Penske Automotive Group by 133.9% during the 1st quarter. Edgestream Partners L.P. now owns 30,048 shares of the company’s stock valued at $4,867,000 after acquiring an additional 17,204 shares in the last quarter. Ontario Teachers Pension Plan Board raised its stake in shares of Penske Automotive Group by 30.9% during the first quarter. Ontario Teachers Pension Plan Board now owns 8,754 shares of the company’s stock valued at $1,418,000 after purchasing an additional 2,068 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Penske Automotive Group by 15.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 30,466 shares of the company’s stock worth $4,935,000 after purchasing an additional 4,057 shares during the period. Entropy Technologies LP grew its position in Penske Automotive Group by 161.9% in the 1st quarter. Entropy Technologies LP now owns 14,754 shares of the company’s stock valued at $2,390,000 after buying an additional 9,121 shares in the last quarter. Finally, Inspire Investing LLC increased its stake in Penske Automotive Group by 17.7% during the 1st quarter. Inspire Investing LLC now owns 7,038 shares of the company’s stock valued at $1,140,000 after buying an additional 1,056 shares during the period. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Penske Automotive Group Price Performance

Penske Automotive Group stock traded down $1.79 during midday trading on Tuesday, hitting $154.76. The company’s stock had a trading volume of 85,256 shares, compared to its average volume of 192,835. Penske Automotive Group, Inc. has a 12 month low of $137.95 and a 12 month high of $177.34. The company has a quick ratio of 0.23, a current ratio of 0.98 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $10.35 billion, a PE ratio of 10.74 and a beta of 1.18. The stock’s 50-day moving average price is $151.18 and its 200-day moving average price is $152.19.

Penske Automotive Group (NYSE:PAG) last released its earnings results on Tuesday, April 30th. The company reported $3.21 EPS for the quarter, missing analysts’ consensus estimates of $3.35 by ($0.14). Penske Automotive Group had a return on equity of 21.72% and a net margin of 3.27%. The business had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.52 billion. During the same quarter in the previous year, the firm earned $4.31 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. Analysts anticipate that Penske Automotive Group, Inc. will post 13.39 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Monday, May 20th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend was Friday, May 17th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.87. Penske Automotive Group’s dividend payout ratio is 26.70%.

Wall Street Analysts Forecast Growth

Separately, Bank of America upped their price target on shares of Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $157.75.

About Penske Automotive Group

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.