Concurrent Investment Advisors LLC Boosts Stock Position in Genuine Parts (NYSE:GPC)

Concurrent Investment Advisors LLC raised its position in shares of Genuine Parts (NYSE:GPC) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,367 shares of the specialty retailer’s stock after purchasing an additional 813 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Genuine Parts were worth $1,561,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC raised its holdings in Genuine Parts by 14,222.1% in the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock worth $81,621,000 after purchasing an additional 580,262 shares during the period. State Street Corp raised its holdings in shares of Genuine Parts by 5.4% during the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock valued at $1,103,300,000 after acquiring an additional 401,180 shares during the last quarter. Boston Trust Walden Corp acquired a new position in shares of Genuine Parts during the third quarter valued at approximately $39,474,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Genuine Parts by 1,038.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer’s stock valued at $38,803,000 after acquiring an additional 253,400 shares during the last quarter. Finally, Synovus Financial Corp raised its holdings in shares of Genuine Parts by 95.4% during the third quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer’s stock valued at $54,708,000 after acquiring an additional 191,272 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GPC. Truist Financial upped their price target on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Evercore ISI decreased their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research note on Wednesday. Finally, Loop Capital started coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Genuine Parts has a consensus rating of “Hold” and a consensus price target of $137.63.

Genuine Parts Stock Down 1.3 %

Genuine Parts stock opened at $121.68 on Friday. The stock’s fifty day moving average is $118.29 and its two-hundred day moving average is $127.07. The stock has a market cap of $16.92 billion, a PE ratio of 18.81 and a beta of 0.94. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC) last issued 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 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 posted $2.26 earnings per share. On average, sell-side analysts expect that Genuine Parts will post 7.9 EPS 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. Investors of record on Friday, March 7th will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.39%. 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%.

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.