National Bank of Canada FI Raises Stock Holdings in Genuine Parts (NYSE:GPC)

National Bank of Canada FI raised its position in Genuine Parts (NYSE:GPC - Free Report) by 5.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 71,912 shares of the specialty retailer's stock after purchasing an additional 3,633 shares during the period. National Bank of Canada FI owned 0.05% of Genuine Parts worth $8,397,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Quantinno Capital Management LP boosted its position in shares of Genuine Parts by 74.0% during the 3rd quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer's stock valued at $1,580,000 after acquiring an additional 4,809 shares during the last quarter. Caprock Group LLC acquired a new position in Genuine Parts in the 4th quarter valued at about $540,000. Verity & Verity LLC increased its holdings in shares of Genuine Parts by 9.7% during the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer's stock worth $12,198,000 after buying an additional 9,199 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Genuine Parts during the 4th quarter valued at approximately $21,840,000. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Genuine Parts by 23.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer's stock valued at $42,417,000 after acquiring an additional 56,776 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company's stock.

Genuine Parts Stock Down 2.8 %

Shares of GPC stock traded down $3.18 during trading hours on Thursday, reaching $110.80. 302,761 shares of the stock were exchanged, compared to its average volume of 1,245,339. Genuine Parts has a 12-month low of $104.01 and a 12-month high of $164.45. The business's fifty day moving average is $120.38 and its two-hundred day moving average is $122.57. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The firm has a market capitalization of $15.38 billion, a P/E ratio of 17.15 and a beta of 0.82.

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

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th were issued a dividend of $1.03 per share. The ex-dividend date was Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a yield of 3.72%. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's dividend payout ratio (DPR) is presently 63.68%.

Wall Street Analyst Weigh In

GPC has been the topic of a number of research analyst reports. Truist Financial lifted their target price on Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Loop Capital initiated coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a "buy" rating and a $155.00 price target for the company. Evercore ISI upgraded shares of Genuine Parts from an "in-line" rating to an "outperform" rating and upped their price objective for the stock from $128.00 to $135.00 in a report on Friday, April 4th. Finally, Northcoast Research lowered Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Genuine Parts presently has an average rating of "Hold" and a consensus price target of $135.88.

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.