Donaldson Capital Management Lowers stake in Penske Automotive Group (PAG)

Penske Automotive Group (PAG) : Donaldson Capital Management reduced its stake in Penske Automotive Group by 12.4% during the most recent quarter end. The investment management company now holds a total of 359,426 shares of Penske Automotive Group which is valued at $18,010,837 after selling 50,884 shares in Penske Automotive Group , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Penske Automotive Group makes up approximately 2.40% of Donaldson Capital Management’s portfolio.

Other Hedge Funds, Including , Schwab Charles Investment Management Inc boosted its stake in PAG in the latest quarter, The investment management firm added 7,647 additional shares and now holds a total of 232,778 shares of Penske Automotive Group which is valued at $11,664,506. Penske Automotive Group makes up approx 0.01% of Schwab Charles Investment Management Inc’s portfolio.Burgundy Asset Management Ltd. boosted its stake in PAG in the latest quarter, The investment management firm added 71,785 additional shares and now holds a total of 2,659,952 shares of Penske Automotive Group which is valued at $123,927,164. Penske Automotive Group makes up approx 1.22% of Burgundy Asset Management Ltd.’s portfolio.Tiaa Cref Investment Management boosted its stake in PAG in the latest quarter, The investment management firm added 66,218 additional shares and now holds a total of 126,426 shares of Penske Automotive Group which is valued at $5,560,215.First Trust Advisors Lp boosted its stake in PAG in the latest quarter, The investment management firm added 287,681 additional shares and now holds a total of 832,734 shares of Penske Automotive Group which is valued at $36,482,077. Penske Automotive Group makes up approx 0.11% of First Trust Advisors Lp’s portfolio. Bartlett sold out all of its stake in PAG during the most recent quarter. The investment firm sold 700 shares of PAG which is valued $31,332.

Penske Automotive Group closed down -0.21 points or -0.43% at $48.44 with 5,67,153 shares getting traded on Monday. Post opening the session at $48.35, the shares hit an intraday low of $47.87 and an intraday high of $48.99 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Penske Automotive Group reported $1.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 26, 2016. Analyst had a consensus of $1.02. The company had revenue of $5152.00 million for the quarter, compared to analysts expectations of $5207.27 million. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS.

Penske Automotive Group Inc. is a transportation services company that operates automotive and commercial vehicle dealerships in the United States and Western Europe. The Company distributes commercial vehicles diesel engines gas engines power systems and related parts and services in Australia and New Zealand. The Company operates in two segments: Retail Automotive which includes the Company’s retail automotive dealership operations and Other which include the Company’s retail commercial vehicle dealership operations commercial vehicle distribution operations and its investments in non-automotive retail operations. The individual dealership operations of Retail Automotive segment operates in four geographic regions: Eastern Central Western United States and International. As of December 31 2014 the Company operated 327 automotive retail franchises of which 179 franchises are located in the United States and 148 franchises are located outside of the United States.

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