Nomura Asset Management Co. Ltd. Purchases 85,811 Shares of Genuine Parts (NYSE:GPC)

Nomura Asset Management Co. Ltd. increased its position in Genuine Parts (NYSE:GPC) by 28.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 389,487 shares of the specialty retailer’s stock after purchasing an additional 85,811 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.28% of Genuine Parts worth $45,477,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GPC. Norges Bank bought a new stake in Genuine Parts in the fourth quarter valued at about $206,645,000. Equity Investment Corp acquired a new stake in Genuine Parts during the fourth quarter valued at approximately $84,128,000. Raymond James Financial Inc. bought a new stake in shares of Genuine Parts in the 4th quarter valued at approximately $57,407,000. State Street Corp lifted its position in shares of Genuine Parts by 5.4% during the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock worth $1,103,300,000 after buying an additional 401,180 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Genuine Parts by 1,038.4% in the 3rd 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 buying an additional 253,400 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Evercore ISI dropped their target price on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Loop Capital began coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. Finally, Truist Financial raised their price objective 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. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $137.63.

Genuine Parts Stock Down 1.7 %

NYSE:GPC opened at $118.49 on Friday. The company has a market cap of $16.44 billion, a price-to-earnings ratio of 18.31 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The stock’s fifty day moving average price is $121.13 and its two-hundred day moving average price is $124.15. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.07. The business had revenue of $5.77 billion for the quarter, compared to analysts’ expectations 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 business earned $2.26 earnings per share. On average, analysts anticipate that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.48%. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. Genuine Parts’s payout ratio is 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.