Texas Permanent School Fund trimmed its stake in Group 1 Automotive, Inc. (NYSE:GPI – Get Rating) by 5.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,356 shares of the company’s stock after selling 710 shares during the period. Texas Permanent School Fund’s holdings in Group 1 Automotive were worth $1,622,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC boosted its stake in Group 1 Automotive by 43.4% during the 2nd quarter. SG Americas Securities LLC now owns 8,081 shares of the company’s stock worth $1,372,000 after purchasing an additional 2,444 shares during the period. M&T Bank Corp boosted its stake in Group 1 Automotive by 11.3% during the 2nd quarter. M&T Bank Corp now owns 1,786 shares of the company’s stock worth $303,000 after purchasing an additional 182 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Group 1 Automotive during the 2nd quarter worth $315,000. Burns JW & Co. Inc. NY acquired a new stake in Group 1 Automotive during the 3rd quarter worth $271,000. Finally, Clearbridge Investments LLC boosted its stake in Group 1 Automotive by 28.9% during the 2nd quarter. Clearbridge Investments LLC now owns 95,605 shares of the company’s stock worth $16,234,000 after purchasing an additional 21,409 shares during the period. 97.71% of the stock is owned by hedge funds and other institutional investors.
Group 1 Automotive Stock Up 2.0 %
GPI stock opened at $190.77 on Thursday. Group 1 Automotive, Inc. has a one-year low of $136.16 and a one-year high of $200.86. The stock has a market capitalization of $2.78 billion, a PE ratio of 4.64, a price-to-earnings-growth ratio of 2.48 and a beta of 1.49. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.31 and a current ratio of 1.03. The company has a fifty day moving average of $184.18 and a 200-day moving average of $174.43.
Group 1 Automotive (NYSE:GPI – Get Rating) last released its earnings results on Wednesday, October 26th. The company reported $12.00 EPS for the quarter, topping the consensus estimate of $10.99 by $1.01. Group 1 Automotive had a net margin of 4.32% and a return on equity of 36.79%. The company had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.07 billion. As a group, analysts expect that Group 1 Automotive, Inc. will post 45.87 EPS for the current year.
Group 1 Automotive Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend was Wednesday, November 30th. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.38. Group 1 Automotive’s dividend payout ratio (DPR) is 3.80%.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Group 1 Automotive from a “neutral” rating to an “overweight” rating and set a $210.00 price target for the company in a research note on Thursday, October 6th. StockNews.com started coverage on shares of Group 1 Automotive in a research note on Wednesday, October 12th. They set a “buy” rating for the company.
Insider Activity
In other news, CEO Earl J. Hesterberg sold 30,000 shares of the stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $173.74, for a total value of $5,212,200.00. Following the completion of the transaction, the chief executive officer now owns 8,974 shares in the company, valued at approximately $1,559,142.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via the SEC website. In other news, SVP Frank Grese sold 4,000 shares of the stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $178.61, for a total value of $714,440.00. Following the completion of the transaction, the senior vice president now owns 17,846 shares in the company, valued at approximately $3,187,474.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via the SEC website. Also, CEO Earl J. Hesterberg sold 30,000 shares of the stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $173.74, for a total transaction of $5,212,200.00. Following the completion of the transaction, the chief executive officer now owns 8,974 shares of the company’s stock, valued at approximately $1,559,142.76. The disclosure for this sale can be found here. Insiders sold 49,925 shares of company stock worth $8,920,415 in the last 90 days. 3.80% of the stock is currently owned by corporate insiders.
About Group 1 Automotive
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Group 1 Automotive, Inc., through its subsidiaries, operates in the automotive retail industry. The company sells new and used cars, light trucks and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services. It operates primarily in 17 states in the United States; and 35 towns in the United Kingdom.
Further Reading
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