Wedge Capital Management L L P NC Has $11.73 Million Stock Holdings in Genuine Parts (NYSE:GPC)

Wedge Capital Management L L P NC raised its holdings in Genuine Parts (NYSE:GPC) by 4.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,681 shares of the specialty retailer’s stock after acquiring an additional 3,708 shares during the period. Wedge Capital Management L L P NC’s holdings in Genuine Parts were worth $11,728,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its stake in Genuine Parts by 42.8% in the third quarter. International Assets Investment Management LLC now owns 4,668 shares of the specialty retailer’s stock worth $664,000 after purchasing an additional 1,400 shares in the last quarter. CWM LLC grew its position in Genuine Parts by 13.4% during the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock worth $524,000 after buying an additional 428 shares during the period. Ronald Blue Trust Inc. boosted its holdings in shares of Genuine Parts by 32.8% in the 3rd quarter. Ronald Blue Trust Inc. now owns 352 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 87 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Genuine Parts by 18.7% in the 3rd quarter. SG Americas Securities LLC now owns 11,467 shares of the specialty retailer’s stock worth $1,656,000 after purchasing an additional 1,809 shares during the last quarter. Finally, RFG Advisory LLC acquired a new stake in shares of Genuine Parts in the 3rd quarter worth approximately $227,000. 78.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GPC shares. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Jefferies Financial Group lifted their price target on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday. Evercore ISI decreased their price target on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Truist Financial raised their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday. Finally, Wedbush restated a “neutral” rating and issued a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a research report on Friday. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $173.10.

Genuine Parts Trading Down 0.7 %

Shares of NYSE GPC traded down $1.20 during trading hours on Tuesday, reaching $161.89. The stock had a trading volume of 81,834 shares, compared to its average volume of 1,049,970. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. The business’s fifty day moving average price is $150.66 and its two-hundred day moving average price is $142.49. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $174.91. The firm has a market cap of $22.55 billion, a price-to-earnings ratio of 18.18 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The business had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the previous year, the firm earned $2.14 EPS. The company’s revenue was up .3% compared to the same quarter last year. Analysts expect that Genuine Parts will post 9.86 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $1.00 per share. The ex-dividend date was Thursday, February 29th. This represents a $4.00 dividend on an annualized basis and a yield of 2.47%. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s dividend payout ratio is presently 44.59%.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now directly owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

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.