Perpetual Ltd Raises Position in Group 1 Automotive, Inc. (NYSE:GPI)

Perpetual Ltd raised its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 88.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,069 shares of the company’s stock after buying an additional 971 shares during the period. Perpetual Ltd’s holdings in Group 1 Automotive were worth $872,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Franklin Resources Inc. lifted its stake in shares of Group 1 Automotive by 2.3% in the 3rd quarter. Franklin Resources Inc. now owns 156,627 shares of the company’s stock valued at $55,701,000 after acquiring an additional 3,507 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Group 1 Automotive in the third quarter valued at approximately $3,286,000. The Manufacturers Life Insurance Company boosted its stake in shares of Group 1 Automotive by 22.0% during the second quarter. The Manufacturers Life Insurance Company now owns 639,142 shares of the company’s stock valued at $190,004,000 after purchasing an additional 115,143 shares during the period. Raymond James & Associates grew its holdings in shares of Group 1 Automotive by 14.7% in the third quarter. Raymond James & Associates now owns 46,483 shares of the company’s stock worth $17,805,000 after purchasing an additional 5,942 shares during the last quarter. Finally, Pathstone Holdings LLC increased its stake in shares of Group 1 Automotive by 25.8% in the third quarter. Pathstone Holdings LLC now owns 10,180 shares of the company’s stock worth $3,899,000 after buying an additional 2,089 shares during the period. 99.92% of the stock is owned by institutional investors.

Group 1 Automotive Stock Performance

NYSE:GPI opened at $440.48 on Thursday. The stock has a 50-day moving average price of $424.96 and a 200 day moving average price of $379.50. The company has a current ratio of 1.00, a quick ratio of 0.24 and a debt-to-equity ratio of 0.91. Group 1 Automotive, Inc. has a 12-month low of $255.73 and a 12-month high of $456.68. The stock has a market capitalization of $5.87 billion, a P/E ratio of 11.74 and a beta of 1.36.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings data on Wednesday, October 30th. The company reported $9.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.87 by $0.03. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The firm had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter last year, the business posted $12.07 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities research analysts forecast that Group 1 Automotive, Inc. will post 38.31 EPS for the current fiscal year.

Group 1 Automotive declared that its Board of Directors has initiated a stock buyback plan on Tuesday, November 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 9.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Group 1 Automotive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, December 2nd. Group 1 Automotive’s dividend payout ratio (DPR) is presently 5.01%.

Insider Buying and Selling

In other news, VP Edward Mckissic sold 79 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total value of $29,546.79. Following the sale, the vice president now directly owns 6,259 shares in the company, valued at $2,340,928.59. The trade was a 1.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lincoln Pereira sold 6,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $426.68, for a total transaction of $2,560,080.00. Following the completion of the transaction, the director now directly owns 98,467 shares of the company’s stock, valued at approximately $42,013,899.56. The trade was a 5.74 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GPI. StockNews.com upgraded shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Friday, November 8th. JPMorgan Chase & Co. cut their target price on shares of Group 1 Automotive from $425.00 to $420.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Jefferies Financial Group started coverage on shares of Group 1 Automotive in a research note on Friday, December 13th. They issued a “buy” rating and a $500.00 price target for the company. Guggenheim upped their target price on Group 1 Automotive from $420.00 to $442.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Morgan Stanley upgraded Group 1 Automotive from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $285.00 to $430.00 in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $436.83.

Group 1 Automotive Profile

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. 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.