Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $1.10 Million Holdings in Danaos Co. (NYSE:DAC)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Danaos Co. (NYSE:DAC) by 61.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 13,697 shares of the shipping company’s stock after purchasing an additional 5,228 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Danaos were worth $1,097,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Danaos by 37.7% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,460 shares of the shipping company’s stock worth $117,000 after purchasing an additional 400 shares in the last quarter. Allworth Financial LP increased its stake in shares of Danaos by 340.1% in the 4th quarter. Allworth Financial LP now owns 1,941 shares of the shipping company’s stock valued at $149,000 after acquiring an additional 1,500 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of Danaos by 24.1% during the 4th quarter. Avior Wealth Management LLC now owns 2,321 shares of the shipping company’s stock valued at $186,000 after acquiring an additional 451 shares during the period. Verition Fund Management LLC acquired a new position in shares of Danaos during the 3rd quarter valued at $205,000. Finally, Ballentine Partners LLC boosted its stake in Danaos by 18.1% during the fourth quarter. Ballentine Partners LLC now owns 3,053 shares of the shipping company’s stock worth $244,000 after acquiring an additional 467 shares in the last quarter. 19.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on DAC. StockNews.com upgraded shares of Danaos from a “hold” rating to a “buy” rating in a report on Monday, March 10th. Jefferies Financial Group reiterated a “buy” rating and issued a $105.00 price target on shares of Danaos in a report on Tuesday, February 11th.

Danaos Stock Performance

DAC opened at $80.53 on Thursday. Danaos Co. has a 1-year low of $71.32 and a 1-year high of $98.25. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 3.11 and a beta of 1.41. The company’s fifty day moving average price is $80.33 and its two-hundred day moving average price is $81.32. The company has a current ratio of 3.93, a quick ratio of 3.78 and a debt-to-equity ratio of 0.19.

Danaos (NYSE:DAC) last posted its earnings results on Monday, February 10th. The shipping company reported $6.50 earnings per share for the quarter, missing analysts’ consensus estimates of $6.52 by ($0.02). Danaos had a return on equity of 16.03% and a net margin of 49.81%. On average, analysts expect that Danaos Co. will post 29.21 EPS for the current fiscal year.

Danaos Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $3.40 annualized dividend and a yield of 4.22%. Danaos’s dividend payout ratio (DPR) is currently 13.12%.

Danaos Profile

Danaos Corporation, together with its subsidiaries, provides container and drybulk vessels services in Australia, Asia, and Europe. The company offers seaborne transportation services by operating vessels in the containership and drybulk sectors of the shipping industry. As of April 03, 2024, it had a fleet of 68 containerships aggregating 421,293 twenty-foot equivalent units in capacity.