Pitcairn Co. Has $840,000 Holdings in Group 1 Automotive, Inc. (NYSE:GPI)

Pitcairn Co. cut its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 12.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,194 shares of the company’s stock after selling 313 shares during the period. Pitcairn Co.’s holdings in Group 1 Automotive were worth $840,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Assetmark Inc. lifted its holdings in Group 1 Automotive by 51.9% during the third quarter. Assetmark Inc. now owns 82 shares of the company’s stock worth $31,000 after acquiring an additional 28 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Group 1 Automotive during the third quarter valued at about $36,000. Avior Wealth Management LLC bought a new stake in Group 1 Automotive during the 3rd quarter valued at $46,000. Hexagon Capital Partners LLC raised its holdings in Group 1 Automotive by 53.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock valued at $43,000 after acquiring an additional 51 shares during the period. Finally, Headlands Technologies LLC bought a new stake in Group 1 Automotive during the 2nd quarter valued at $48,000. 99.92% of the stock is owned by institutional investors.

Insider Activity at Group 1 Automotive

In related news, VP Edward Mckissic sold 79 shares of the firm’s stock in a transaction that occurred on 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 owns 6,259 shares in the company, valued at approximately $2,340,928.59. This trade represents a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by insiders.

Group 1 Automotive Price Performance

GPI stock opened at $421.14 on Monday. Group 1 Automotive, Inc. has a 1 year low of $255.73 and a 1 year high of $422.92. The company has a market cap of $5.61 billion, a P/E ratio of 11.22 and a beta of 1.33. The firm has a 50-day moving average of $377.50 and a 200 day moving average of $342.90. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 0.24.

Group 1 Automotive (NYSE:GPI) last announced its earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter last year, the firm earned $12.07 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, sell-side analysts forecast that Group 1 Automotive, Inc. will post 38.37 EPS for the current year.

Group 1 Automotive announced that its Board of Directors has initiated a stock buyback program on Tuesday, November 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 9.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Group 1 Automotive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, December 2nd. Group 1 Automotive’s dividend payout ratio is 5.01%.

Wall Street Analyst Weigh In

GPI has been the topic of a number of analyst reports. StockNews.com raised shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Friday, November 8th. JPMorgan Chase & Co. upped their target price on shares of Group 1 Automotive from $420.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Stephens began coverage on shares of Group 1 Automotive in a research report on Thursday, September 12th. They set an “equal weight” rating and a $394.00 price target for the company. Guggenheim upped their price target on shares of Group 1 Automotive from $420.00 to $442.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Morgan Stanley upgraded shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $285.00 to $430.00 in a report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $425.20.

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.