SurgoCap Partners LP Takes $31.34 Million Position in DPC Holdings PLC $DPC

SurgoCap Partners LP purchased a new position in DPC Holdings PLC (NYSE:DPC) in the second quarter, HoldingsChannel reports. The fund purchased 638,725 shares of the company’s stock, valued at approximately $31,336,000. DPC makes up about 1.0% of SurgoCap Partners LP’s portfolio, making the stock its 13th biggest holding.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on DPC shares. Wall Street Zen upgraded shares of DPC to a “hold” rating in a research note on Saturday, July 4th. Jefferies Financial Group initiated coverage on DPC in a research report on Monday, July 20th. They issued a “buy” rating and a $56.00 target price for the company. Morgan Stanley upped their price target on DPC from $47.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 12th. Rothschild & Co Redburn assumed coverage on shares of DPC in a report on Monday, July 20th. They issued a “buy” rating and a $53.50 price objective for the company. Finally, Royal Bank Of Canada boosted their target price on shares of DPC from $53.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.62.

DPC Trading Down 5.1%

DPC opened at $43.12 on Tuesday. The stock’s 50-day simple moving average is $48.47. DPC Holdings PLC has a fifty-two week low of $42.50 and a fifty-two week high of $57.25.

DPC (NYSE:DPC) last issued its earnings results on Tuesday, August 11th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). The business had revenue of $268.70 million during the quarter. Sell-side analysts predict that DPC Holdings PLC will post 0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO David John Egan acquired 275,363 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was purchased at an average cost of $33.00 per share, for a total transaction of $9,086,979.00. Following the purchase, the chief financial officer directly owned 294,529 shares in the company, valued at $9,719,457. This represents a 1,436.73% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Taiwo K. Danmola bought 60,604 shares of the company’s stock in a transaction on Friday, June 26th. The stock was bought at an average cost of $33.00 per share, for a total transaction of $1,999,932.00. Following the completion of the transaction, the director directly owned 60,604 shares of the company’s stock, valued at $1,999,932. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 2,297,621 shares of company stock worth $75,821,493.

DPC Profile

DPC Holdings is a manufacturer of engineered engine products which include complex precision cast components and nickel- and cobalt-based superalloys primarily serving Aerospace and IGT end markets. DPC Holdings is based in United Kingdom.