Quantbot Technologies LP Reduces Holdings in Genuine Parts (NYSE:GPC)

Quantbot Technologies LP cut its stake in Genuine Parts (NYSE:GPC) by 63.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,811 shares of the specialty retailer’s stock after selling 18,556 shares during the period. Quantbot Technologies LP’s holdings in Genuine Parts were worth $1,262,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Millstone Evans Group LLC acquired a new stake in shares of Genuine Parts during the fourth quarter worth about $25,000. Kestra Investment Management LLC acquired a new position in shares of Genuine Parts in the 4th quarter valued at $28,000. First Command Advisory Services Inc. purchased a new stake in shares of Genuine Parts in the fourth quarter valued at about $28,000. Compass Planning Associates Inc purchased a new stake in Genuine Parts during the 4th quarter valued at approximately $29,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of Genuine Parts during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

GPC has been the subject of several analyst reports. Truist Financial increased their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Loop Capital began coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price target for the company. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Finally, Evercore ISI reduced their target price on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $137.63.

Genuine Parts Stock Performance

NYSE GPC opened at $120.80 on Tuesday. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The business’s 50-day simple moving average is $121.07 and its 200-day simple moving average is $124.47. 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 $16.77 billion, a P/E ratio of 18.67 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period last year, the company posted $2.26 earnings per share. Equities analysts predict that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.41%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s dividend payout ratio is presently 63.68%.

About Genuine Parts

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.