Provident Investment Management Inc. Raises Position in O’Reilly Automotive, Inc. $ORLY

Provident Investment Management Inc. grew its position in shares of O’Reilly Automotive, Inc. (NASDAQ:ORLY) by 1,384.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 383,699 shares of the specialty retailer’s stock after buying an additional 357,853 shares during the quarter. O’Reilly Automotive accounts for 3.0% of Provident Investment Management Inc.’s portfolio, making the stock its 18th largest position. Provident Investment Management Inc.’s holdings in O’Reilly Automotive were worth $34,583,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in ORLY. Vanguard Group Inc. boosted its stake in O’Reilly Automotive by 1,404.9% during the 2nd quarter. Vanguard Group Inc. now owns 78,834,967 shares of the specialty retailer’s stock valued at $7,105,396,000 after purchasing an additional 73,596,571 shares during the last quarter. State Street Corp raised its stake in shares of O’Reilly Automotive by 1,424.2% in the second quarter. State Street Corp now owns 37,179,783 shares of the specialty retailer’s stock worth $3,351,014,000 after purchasing an additional 34,740,553 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of O’Reilly Automotive by 1,443.1% during the second quarter. Geode Capital Management LLC now owns 23,679,108 shares of the specialty retailer’s stock valued at $2,130,866,000 after purchasing an additional 22,144,563 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of O’Reilly Automotive by 1,317.8% during the second quarter. Bank of New York Mellon Corp now owns 17,651,104 shares of the specialty retailer’s stock valued at $1,590,894,000 after buying an additional 16,406,181 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in O’Reilly Automotive by 1,820.9% in the 2nd quarter. Jennison Associates LLC now owns 14,116,976 shares of the specialty retailer’s stock worth $1,272,363,000 after buying an additional 13,382,074 shares in the last quarter. 85.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ORLY has been the topic of several research analyst reports. Baird R W upgraded shares of O’Reilly Automotive to a “strong-buy” rating in a research note on Thursday, December 4th. UBS Group reissued a “buy” rating and set a $120.00 price objective (up from $115.00) on shares of O’Reilly Automotive in a report on Wednesday, October 15th. Wells Fargo & Company set a $115.00 price target on O’Reilly Automotive and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Barclays set a $91.00 target price on shares of O’Reilly Automotive and gave the company an “equal weight” rating in a report on Monday, October 27th. Finally, Wolfe Research began coverage on O’Reilly Automotive in a research report on Thursday, September 18th. They issued an “outperform” rating and a $121.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, O’Reilly Automotive currently has a consensus rating of “Moderate Buy” and an average target price of $112.05.

Insider Activity at O’Reilly Automotive

In related news, Director John Raymond Murphy sold 3,125 shares of O’Reilly Automotive stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $92.60, for a total transaction of $289,375.00. Following the sale, the director owned 8,125 shares of the company’s stock, valued at approximately $752,375. This trade represents a 27.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Philip M. Hopper sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $101.25, for a total value of $354,375.00. Following the completion of the transaction, the senior vice president owned 4,792 shares of the company’s stock, valued at $485,190. The trade was a 42.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 8,980 shares of company stock valued at $882,335. 1.01% of the stock is owned by company insiders.

O’Reilly Automotive Stock Performance

ORLY opened at $94.11 on Friday. O’Reilly Automotive, Inc. has a fifty-two week low of $78.30 and a fifty-two week high of $108.71. The firm’s fifty day moving average is $98.63 and its 200 day moving average is $98.15. The stock has a market cap of $79.44 billion, a price-to-earnings ratio of 32.60, a price-to-earnings-growth ratio of 2.22 and a beta of 0.62.

O’Reilly Automotive (NASDAQ:ORLY) last issued its quarterly earnings results on Wednesday, October 22nd. The specialty retailer reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. O’Reilly Automotive had a negative return on equity of 206.86% and a net margin of 14.23%.The business had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.69 billion. During the same quarter in the prior year, the business posted $11.41 EPS. O’Reilly Automotive’s revenue for the quarter was up 7.8% compared to the same quarter last year. O’Reilly Automotive has set its FY 2025 guidance at 2.900-3.000 EPS. On average, equities research analysts predict that O’Reilly Automotive, Inc. will post 43.94 earnings per share for the current year.

O’Reilly Automotive Company Profile

O’Reilly Automotive, Inc, together with its subsidiaries, operates as a retailer and supplier of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States, Puerto Rico, and Mexico. The company provides new and remanufactured automotive hard parts and maintenance items, such as alternators, batteries, brake system components, belts, chassis parts, driveline parts, engine parts, fuel pumps, hoses, starters, temperature control, water pumps, antifreeze, appearance products, engine additives, filters, fluids, lighting products, and oil and wiper blades; and accessories, including floor mats, seat covers, and truck accessories.