Congress Wealth Management LLC DE Lowers Holdings in Genuine Parts (NYSE:GPC)

Congress Wealth Management LLC DE trimmed its position in Genuine Parts (NYSE:GPC - Free Report) by 53.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,106 shares of the specialty retailer's stock after selling 34,984 shares during the quarter. Congress Wealth Management LLC DE's holdings in Genuine Parts were worth $3,515,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new stake in shares of Genuine Parts during the 4th quarter valued at $25,000. Kestra Investment Management LLC purchased a new stake in Genuine Parts in the 4th quarter worth $28,000. First Command Advisory Services Inc. bought a new stake in Genuine Parts during the fourth quarter valued at about $28,000. Compass Planning Associates Inc purchased a new position in shares of Genuine Parts in the fourth quarter valued at about $29,000. Finally, Synergy Asset Management LLC bought a new position in shares of Genuine Parts in the fourth quarter worth about $32,000. Institutional investors own 78.83% of the company's stock.

Genuine Parts Price Performance

GPC stock traded up $0.80 during trading on Monday, hitting $119.27. 1,109,938 shares of the company's stock traded hands, compared to its average volume of 1,213,077. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The stock has a market capitalization of $16.55 billion, a price-to-earnings ratio of 18.43 and a beta of 0.93. The business has a fifty day simple moving average of $121.14 and a 200 day simple moving average of $123.88. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16.

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

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.45%. Genuine Parts's dividend payout ratio is currently 63.68%.

Wall Street Analyst Weigh In

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

Genuine Parts Company 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.