Group 1 Automotive, Inc. (NYSE:GPI) Position Trimmed by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 6.9% in the 2nd quarter, Holdings Channel reports. The firm owned 10,819 shares of the company’s stock after selling 804 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Group 1 Automotive were worth $3,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Principal Securities Inc. bought a new position in shares of Group 1 Automotive during the fourth quarter worth about $27,000. Hexagon Capital Partners LLC grew its position 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 acquiring an additional 51 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Group 1 Automotive by 37.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 213 shares of the company’s stock worth $65,000 after acquiring an additional 58 shares during the last quarter. Blue Trust Inc. grew its position in shares of Group 1 Automotive by 47.5% during the second quarter. Blue Trust Inc. now owns 270 shares of the company’s stock worth $79,000 after acquiring an additional 87 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of Group 1 Automotive by 1,452.8% during the first quarter. Covestor Ltd now owns 559 shares of the company’s stock worth $164,000 after acquiring an additional 523 shares during the last quarter. Institutional investors own 99.92% of the company’s stock.

Group 1 Automotive Price Performance

Shares of NYSE GPI opened at $364.39 on Monday. Group 1 Automotive, Inc. has a twelve month low of $228.84 and a twelve month high of $379.45. The company has a current ratio of 1.02, a quick ratio of 0.26 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 8.60, a PEG ratio of 1.72 and a beta of 1.33. The firm has a 50-day moving average of $340.13 and a two-hundred day moving average of $307.74.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $9.80 earnings per share for the quarter, beating analysts’ consensus estimates of $9.36 by $0.44. Group 1 Automotive had a net margin of 3.03% and a return on equity of 20.53%. The company had revenue of $4.70 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the prior year, the company earned $11.73 EPS. Group 1 Automotive’s revenue was up 3.0% on a year-over-year basis. As a group, analysts expect that Group 1 Automotive, Inc. will post 39.26 earnings per share for the current fiscal year.

Group 1 Automotive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 2nd will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Friday, August 30th. Group 1 Automotive’s payout ratio is 4.44%.

Insider Buying and Selling at Group 1 Automotive

In other Group 1 Automotive news, VP Michael David Jones sold 1,200 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $350.99, for a total value of $421,188.00. Following the completion of the sale, the vice president now directly owns 9,742 shares of the company’s stock, valued at approximately $3,419,344.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on GPI. Bank of America lowered their price target on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Stephens assumed coverage on shares of Group 1 Automotive in a research report on Thursday. They issued an “equal weight” rating and a $394.00 target price for the company. StockNews.com lowered shares of Group 1 Automotive from a “hold” rating to a “sell” rating in a research report on Thursday. Morgan Stanley increased their target price on shares of Group 1 Automotive from $260.00 to $285.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. increased their target price on shares of Group 1 Automotive from $360.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $367.80.

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.