ProVise Management Group LLC reduced its stake in Genuine Parts (NYSE:GPC - Free Report) by 12.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,537 shares of the specialty retailer's stock after selling 2,783 shares during the quarter. ProVise Management Group LLC's holdings in Genuine Parts were worth $2,281,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Quantinno Capital Management LP grew its holdings in Genuine Parts by 74.0% in the 3rd quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer's stock valued at $1,580,000 after buying an additional 4,809 shares in the last quarter. Caprock Group LLC purchased a new stake in Genuine Parts in the 4th quarter valued at $540,000. Verity & Verity LLC grew its holdings in Genuine Parts by 9.7% in the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer's stock valued at $12,198,000 after buying an additional 9,199 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Genuine Parts in the 4th quarter valued at $21,840,000. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Genuine Parts by 23.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer's stock valued at $42,417,000 after buying an additional 56,776 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.
Genuine Parts Trading Down 1.5 %
Genuine Parts stock traded down $1.82 during midday trading on Friday, reaching $118.93. 3,064,471 shares of the stock traded hands, compared to its average volume of 1,150,171. The company has a 50-day simple moving average of $120.99 and a two-hundred day simple moving average of $124.70. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The firm has a market cap of $16.50 billion, a PE ratio of 18.38 and a beta of 0.93. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86.
Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.07. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same quarter last year, the company earned $2.26 EPS. Research analysts expect that Genuine Parts will post 7.9 earnings per share for the current fiscal year.
Genuine Parts Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given 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 yield of 3.46%. This is a positive change from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's dividend payout ratio (DPR) is currently 63.68%.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the company. Loop Capital assumed coverage on Genuine Parts in a report on Thursday, January 16th. They set a "buy" rating and a $155.00 price target for the company. Northcoast Research cut Genuine Parts from a "buy" rating to a "neutral" rating in a report 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. Finally, Evercore ISI lowered their price target on Genuine Parts from $128.00 to $125.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Genuine Parts presently has an average rating of "Hold" and a consensus target price of $137.63.
Check Out Our Latest Research Report on Genuine Parts
Genuine Parts Profile
(
Free Report)
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.
Recommended Stories
Before you consider Genuine Parts, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Genuine Parts wasn't on the list.
While Genuine Parts currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
