Rockefeller Capital Management L.P. Takes $13.12 Million Position in Group 1 Automotive, Inc. (NYSE:GPI)

Rockefeller Capital Management L.P. bought a new position in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 34,245 shares of the company's stock, valued at approximately $13,117,000. Rockefeller Capital Management L.P. owned approximately 0.26% of Group 1 Automotive at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. raised its position in shares of Group 1 Automotive by 51.9% during the 3rd quarter. Assetmark Inc. now owns 82 shares of the company's stock valued at $31,000 after buying an additional 28 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Group 1 Automotive in the 3rd quarter worth approximately $36,000. Hexagon Capital Partners LLC increased its position in shares of 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 purchasing an additional 51 shares during the last quarter. Avior Wealth Management LLC purchased a new stake in Group 1 Automotive during the 3rd quarter valued at $46,000. Finally, Headlands Technologies LLC bought a new stake in Group 1 Automotive in the second quarter worth $48,000. 99.92% of the stock is owned by institutional investors.

Group 1 Automotive Stock Performance

Shares of NYSE GPI traded up $4.75 during midday trading on Tuesday, reaching $432.56. The company had a trading volume of 127,721 shares, compared to its average volume of 135,065. 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 1 year low of $255.73 and a 1 year high of $440.32. The stock has a market cap of $5.76 billion, a P/E ratio of 11.51 and a beta of 1.35. The business's 50-day simple moving average is $383.39 and its 200 day simple moving average is $347.81.

Group 1 Automotive (NYSE:GPI - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $9.90 EPS for the quarter, topping analysts' consensus estimates of $9.87 by $0.03. The business had revenue of $5.22 billion for the quarter, compared to analysts' expectations of $5.06 billion. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The business's revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $12.07 EPS. On average, analysts forecast that Group 1 Automotive, Inc. will post 38.37 earnings per share for the current fiscal year.

Group 1 Automotive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Monday, December 2nd. Group 1 Automotive's payout ratio is currently 5.01%.

Group 1 Automotive announced that its Board of Directors has approved a share buyback plan on Tuesday, November 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 9.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

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

Insider Transactions at Group 1 Automotive

In related news, VP Edward Mckissic sold 79 shares of the business's 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 completion of the sale, the vice president now directly owns 6,259 shares in the company, valued at approximately $2,340,928.59. The trade was a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company's stock.

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.