Public Sector Pension Investment Board Has $10.63 Million Holdings in Group 1 Automotive, Inc. (NYSE:GPI)

Public Sector Pension Investment Board decreased its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,751 shares of the company’s stock after selling 1,300 shares during the quarter. Public Sector Pension Investment Board’s holdings in Group 1 Automotive were worth $10,630,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. raised its stake 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 in the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Group 1 Automotive during the third quarter worth about $36,000. Avior Wealth Management LLC bought a new stake in shares of Group 1 Automotive during the third quarter worth about $46,000. Hexagon Capital Partners LLC grew its holdings in shares of Group 1 Automotive by 53.7% during the second quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock worth $43,000 after purchasing an additional 51 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Group 1 Automotive during the second quarter worth about $48,000. Institutional investors and hedge funds own 99.92% of the company’s stock.

Group 1 Automotive Stock Performance

Shares of GPI stock opened at $427.76 on Friday. The stock has a market capitalization of $5.70 billion, a PE ratio of 11.40 and a beta of 1.33. Group 1 Automotive, Inc. has a one year low of $255.73 and a one year high of $440.32. The business’s 50 day simple moving average is $380.89 and its 200 day simple moving average is $345.33. 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 posted its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.87 by $0.03. The firm had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.06 billion. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $12.07 EPS. As a group, research analysts forecast that Group 1 Automotive, Inc. will post 38.38 earnings per share for the current year.

Group 1 Automotive declared that its Board of Directors has authorized a share repurchase program on Tuesday, November 12th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 9.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Group 1 Automotive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, December 2nd. Group 1 Automotive’s payout ratio is 5.01%.

Insiders Place Their Bets

In other Group 1 Automotive news, VP Edward Mckissic sold 79 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total transaction of $29,546.79. Following the transaction, the vice president now directly owns 6,259 shares in the company, valued at approximately $2,340,928.59. This represents a 1.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GPI. JPMorgan Chase & Co. boosted their price target on Group 1 Automotive from $420.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Morgan Stanley upgraded Group 1 Automotive from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $285.00 to $430.00 in a report on Wednesday, September 25th. Stephens assumed coverage on Group 1 Automotive in a report on Thursday, September 12th. They set an “equal weight” rating and a $394.00 price target on the stock. Guggenheim upped their target price on Group 1 Automotive from $420.00 to $442.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, StockNews.com upgraded Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $425.20.

About Group 1 Automotive

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.