New York State Common Retirement Fund Trims Stock Holdings in AutoNation, Inc. (NYSE:AN)

New York State Common Retirement Fund lowered its position in shares of AutoNation, Inc. (NYSE:AN) by 15.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 18,058 shares of the company’s stock after selling 3,416 shares during the quarter. New York State Common Retirement Fund’s holdings in AutoNation were worth $2,712,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its position in AutoNation by 2.5% in the third quarter. Commonwealth Equity Services LLC now owns 11,723 shares of the company’s stock valued at $1,775,000 after buying an additional 288 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of AutoNation by 4.7% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 9,150 shares of the company’s stock worth $1,385,000 after acquiring an additional 407 shares during the period. Raymond James & Associates raised its holdings in shares of AutoNation by 2.6% during the third quarter. Raymond James & Associates now owns 58,915 shares of the company’s stock worth $8,920,000 after purchasing an additional 1,474 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in AutoNation by 21.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,838 shares of the company’s stock valued at $1,035,000 after purchasing an additional 1,190 shares during the period. Finally, Strs Ohio boosted its holdings in AutoNation by 20.0% in the third quarter. Strs Ohio now owns 10,801 shares of the company’s stock valued at $1,635,000 after purchasing an additional 1,799 shares during the last quarter. Hedge funds and other institutional investors own 94.62% of the company’s stock.

AutoNation Trading Up 0.8 %

Shares of NYSE:AN opened at $166.44 on Tuesday. The business’s 50 day moving average price is $157.19 and its 200-day moving average price is $146.07. AutoNation, Inc. has a 1 year low of $123.81 and a 1 year high of $182.08. The firm has a market capitalization of $6.70 billion, a price-to-earnings ratio of 7.89, a price-to-earnings-growth ratio of 3.09 and a beta of 1.22. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.79 and a quick ratio of 0.23.

AutoNation (NYSE:AN) last posted its quarterly earnings data on Friday, April 26th. The company reported $4.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.45 by $0.04. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.49 billion. AutoNation had a net margin of 3.41% and a return on equity of 42.44%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same period last year, the firm posted $6.05 earnings per share. On average, equities research analysts forecast that AutoNation, Inc. will post 18.73 earnings per share for the current fiscal year.

AutoNation declared that its Board of Directors has authorized a stock buyback program on Friday, April 26th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 14.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wells Fargo & Company lifted their price objective on AutoNation from $153.00 to $169.00 and gave the company an “equal weight” rating in a research note on Monday, April 29th. Evercore ISI assumed coverage on AutoNation in a research report on Wednesday, January 17th. They issued an “outperform” rating and a $185.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of AutoNation from $142.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Bank of America decreased their target price on shares of AutoNation from $220.00 to $215.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Finally, StockNews.com lowered shares of AutoNation from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, AutoNation presently has a consensus rating of “Moderate Buy” and an average price target of $176.63.

Insider Activity at AutoNation

In other AutoNation news, major shareholder Edward S. Lampert sold 10,804 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $154.56, for a total transaction of $1,669,866.24. Following the completion of the sale, the insider now directly owns 4,267,860 shares in the company, valued at approximately $659,640,441.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other AutoNation news, major shareholder Edward S. Lampert sold 10,804 shares of AutoNation stock in a transaction on Monday, February 12th. The shares were sold at an average price of $154.56, for a total transaction of $1,669,866.24. Following the sale, the insider now owns 4,267,860 shares of the company’s stock, valued at approximately $659,640,441.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Edward S. Lampert sold 100,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $161.26, for a total transaction of $16,126,000.00. Following the completion of the sale, the insider now owns 4,167,270 shares of the company’s stock, valued at $672,013,960.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 131,279 shares of company stock valued at $21,041,962. 0.74% of the stock is owned by corporate insiders.

About AutoNation

AutoNation, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance, and wholesale parts and collision services.