Edgestream Partners L.P. Makes New Investment in Genuine Parts (NYSE:GPC)

Edgestream Partners L.P. acquired a new stake in Genuine Parts (NYSE:GPC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,644 shares of the specialty retailer's stock, valued at approximately $776,000.

Other large investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in shares of Genuine Parts in the 3rd quarter valued at $26,000. Kestra Investment Management LLC acquired a new position in Genuine Parts in the fourth quarter valued at $28,000. First Command Advisory Services Inc. purchased a new stake in shares of Genuine Parts in the fourth quarter valued at about $28,000. Compass Planning Associates Inc acquired a new stake in shares of Genuine Parts during the fourth quarter worth about $29,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Genuine Parts during the third quarter worth about $31,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on GPC. Northcoast Research downgraded Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Truist Financial increased their price target on Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Loop Capital assumed coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a "buy" rating and a $155.00 price objective on the stock. Finally, Evercore ISI dropped their price objective on shares of Genuine Parts from $128.00 to $125.00 and set an "in-line" rating on the stock in a research note on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $137.63.

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Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the company's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now owns 11,357 shares of the company's stock, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.42% of the stock is currently owned by insiders.

Genuine Parts Price Performance

Genuine Parts stock opened at $123.74 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a market cap of $17.17 billion, a P/E ratio of 19.13 and a beta of 0.93. The business has a fifty day moving average of $120.15 and a two-hundred day moving average of $125.76.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The firm had revenue of $5.77 billion during the quarter, compared to analysts' expectations of $5.71 billion. During the same quarter last year, the business earned $2.26 earnings per share. As a group, analysts predict that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.33%. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's dividend payout ratio is currently 63.68%.

Genuine Parts Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.

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