Entropy Technologies LP Has $400,000 Position in Penske Automotive Group, Inc. (NYSE:PAG)

Entropy Technologies LP lessened its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 22.2% in the third quarter, Holdings Channel reports. The institutional investor owned 2,462 shares of the company’s stock after selling 703 shares during the period. Entropy Technologies LP’s holdings in Penske Automotive Group were worth $400,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Applied Capital LLC FL raised its stake in shares of Penske Automotive Group by 0.4% during the third quarter. Applied Capital LLC FL now owns 21,176 shares of the company’s stock valued at $3,439,000 after acquiring an additional 77 shares during the last quarter. Arizona State Retirement System grew its position in shares of Penske Automotive Group by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 5,626 shares of the company’s stock valued at $838,000 after buying an additional 84 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Penske Automotive Group by 32.2% in the second quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock valued at $56,000 after buying an additional 91 shares during the period. Linden Thomas Advisory Services LLC raised its position in shares of Penske Automotive Group by 1.5% during the second quarter. Linden Thomas Advisory Services LLC now owns 6,985 shares of the company’s stock worth $1,041,000 after acquiring an additional 102 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Penske Automotive Group by 17.5% in the second quarter. Blue Trust Inc. now owns 757 shares of the company’s stock worth $123,000 after acquiring an additional 113 shares during the period. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PAG shares. Bank of America raised their price target on shares of Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Morgan Stanley upgraded shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $115.00 to $180.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. lifted their price objective on Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 10th. Finally, Stephens initiated coverage on Penske Automotive Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $161.00 target price on the stock.

Penske Automotive Group Trading Down 0.5 %

PAG opened at $160.23 on Friday. The company has a fifty day moving average price of $156.44 and a two-hundred day moving average price of $156.29. Penske Automotive Group, Inc. has a 1-year low of $142.32 and a 1-year high of $179.72. The company has a market cap of $10.70 billion, a P/E ratio of 12.28 and a beta of 1.17. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Tuesday, October 29th. The company reported $3.39 EPS for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.02). Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The firm had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.67 billion. During the same period in the previous year, the firm earned $3.90 earnings per share. The business’s quarterly revenue was up 1.9% on a year-over-year basis. Analysts predict that Penske Automotive Group, Inc. will post 13.72 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be paid a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.07. Penske Automotive Group’s payout ratio is 32.80%.

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.