Modera Wealth Management LLC Acquires 14,783 Shares of Genuine Parts (NYSE:GPC)

Modera Wealth Management LLC grew its holdings in shares of Genuine Parts (NYSE:GPC - Free Report) by 614.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,190 shares of the specialty retailer's stock after acquiring an additional 14,783 shares during the quarter. Modera Wealth Management LLC's holdings in Genuine Parts were worth $2,401,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GPC. Comerica Bank lifted its position in Genuine Parts by 19.6% in the 1st quarter. Comerica Bank now owns 113,657 shares of the specialty retailer's stock worth $17,609,000 after buying an additional 18,657 shares during the last quarter. Mezzasalma Advisors LLC raised its position in Genuine Parts by 497.0% in the 1st quarter. Mezzasalma Advisors LLC now owns 12,035 shares of the specialty retailer's stock worth $1,865,000 after purchasing an additional 10,019 shares during the period. Acadian Asset Management LLC lifted its stake in Genuine Parts by 137.9% in the first quarter. Acadian Asset Management LLC now owns 22,997 shares of the specialty retailer's stock worth $3,560,000 after purchasing an additional 13,330 shares during the last quarter. Orion Portfolio Solutions LLC boosted its position in Genuine Parts by 707.2% during the first quarter. Orion Portfolio Solutions LLC now owns 14,691 shares of the specialty retailer's stock valued at $2,276,000 after buying an additional 12,871 shares during the period. Finally, UniSuper Management Pty Ltd grew its stake in shares of Genuine Parts by 422.7% during the first quarter. UniSuper Management Pty Ltd now owns 7,840 shares of the specialty retailer's stock valued at $1,215,000 after buying an additional 6,340 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Genuine Parts from $162.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 22nd. UBS Group dropped their price target on Genuine Parts from $145.00 to $125.00 and set a "neutral" rating for the company in a research note on Wednesday, October 23rd. Evercore ISI lifted their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an "in-line" rating in a research report on Tuesday, October 22nd. Truist Financial lowered their price objective on Genuine Parts from $164.00 to $129.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. Finally, StockNews.com cut Genuine Parts from a "buy" rating to a "hold" rating in a research report on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $139.57.

Genuine Parts Stock Performance

Shares of GPC stock traded up $4.11 during trading hours on Monday, reaching $118.35. The company had a trading volume of 3,932,514 shares, compared to its average volume of 1,021,574. The firm has a market cap of $16.49 billion, a PE ratio of 12.74 and a beta of 0.90. The business has a fifty day moving average price of $137.22 and a 200-day moving average price of $142.08. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.54 and a current ratio of 1.17.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same period in the previous year, the firm earned $2.49 EPS. The business's revenue was up 3.0% on a year-over-year basis. Sell-side analysts predict that Genuine Parts will post 8.1 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a dividend of $1.00 per share. The ex-dividend date was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.38%. Genuine Parts's dividend payout ratio is currently 44.59%.

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.