Alliance Wealth Advisors LLC acquired a new stake in Genuine Parts (NYSE:GPC) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,990 shares of the specialty retailer’s stock, valued at approximately $230,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Penserra Capital Management LLC lifted its position in shares of Genuine Parts by 49.5% in the fourth quarter. Penserra Capital Management LLC now owns 305 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 101 shares during the last quarter. Trustcore Financial Services LLC increased its stake in shares of Genuine Parts by 1.7% during the fourth quarter. Trustcore Financial Services LLC now owns 6,578 shares of the specialty retailer’s stock worth $661,000 after purchasing an additional 112 shares during the period. GWM Advisors LLC increased its stake in shares of Genuine Parts by 3.6% during the fourth quarter. GWM Advisors LLC now owns 3,341 shares of the specialty retailer’s stock worth $335,000 after purchasing an additional 115 shares during the period. Boston Private Wealth LLC increased its stake in shares of Genuine Parts by 1.6% during the fourth quarter. Boston Private Wealth LLC now owns 7,808 shares of the specialty retailer’s stock worth $784,000 after purchasing an additional 120 shares during the period. Finally, We Are One Seven LLC increased its stake in shares of Genuine Parts by 1.6% during the fourth quarter. We Are One Seven LLC now owns 8,243 shares of the specialty retailer’s stock worth $828,000 after purchasing an additional 129 shares during the period. 76.87% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on GPC. Zacks Investment Research lowered Genuine Parts from a “hold” rating to a “sell” rating and set a $110.00 target price on the stock. in a research note on Tuesday, February 23rd. Royal Bank of Canada increased their target price on Genuine Parts from $97.00 to $104.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 25th. Finally, TheStreet lowered Genuine Parts from a “b” rating to a “c+” rating in a research note on Tuesday, March 23rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $105.33.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, February 16th. The specialty retailer reported $1.52 EPS for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.17. The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.32 billion. Genuine Parts had a positive return on equity of 23.26% and a negative net margin of 1.10%. During the same quarter last year, the company earned $1.35 EPS. Sell-side analysts anticipate that Genuine Parts will post 5.1 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Shareholders of record on Friday, March 5th were issued a $0.815 dividend. This represents a $3.26 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Thursday, March 4th. This is an increase from Genuine Parts’s previous quarterly dividend of $0.79. Genuine Parts’s dividend payout ratio (DPR) is currently 57.29%.
Genuine Parts Profile
Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. The company distributes automotive replacement parts for imported vehicles, hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.
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