Genuine Parts Company $GPC Shares Bought by Equity Investment Corp

Equity Investment Corp boosted its position in shares of Genuine Parts Company (NYSE:GPC) by 1.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 743,758 shares of the specialty retailer’s stock after purchasing an additional 11,808 shares during the period. Genuine Parts makes up 1.9% of Equity Investment Corp’s portfolio, making the stock its 29th biggest position. Equity Investment Corp’s holdings in Genuine Parts were worth $90,225,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in GPC. Concord Wealth Partners grew its stake in shares of Genuine Parts by 148.7% during the second quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock valued at $36,000 after acquiring an additional 177 shares in the last quarter. Hantz Financial Services Inc. grew its stake in Genuine Parts by 7,825.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 313 shares in the last quarter. Quaker Wealth Management LLC grew its position in shares of Genuine Parts by 11,533.3% during the second quarter. Quaker Wealth Management LLC now owns 343 shares of the specialty retailer’s stock worth $42,000 after buying an additional 346 shares in the last quarter. Cromwell Holdings LLC grew its position in shares of Genuine Parts by 49.1% during the second quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock worth $42,000 after buying an additional 114 shares in the last quarter. Finally, WPG Advisers LLC acquired a new stake in shares of Genuine Parts during the first quarter worth approximately $45,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Genuine Parts

In other news, EVP Naveen Krishna sold 5,303 shares of the company’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $138.12, for a total transaction of $732,450.36. Following the completion of the sale, the executive vice president directly owned 26,112 shares of the company’s stock, valued at $3,606,589.44. This represents a 16.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GPC. Weiss Ratings reissued a “hold (c)” rating on shares of Genuine Parts in a report on Wednesday, October 8th. UBS Group lifted their price target on Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Evercore ISI lifted their price target on Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Loop Capital lifted their target price on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $143.33.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $122.69 on Wednesday. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $143.48. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $17.07 billion, a price-to-earnings ratio of 21.12 and a beta of 0.75. The firm has a 50-day moving average of $135.70 and a two-hundred day moving average of $129.44.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.04). Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. The business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same period in the previous year, the company posted $1.88 earnings per share. Genuine Parts’s revenue was up 4.9% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. As a group, analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Friday, September 5th. Genuine Parts’s dividend payout ratio is 70.91%.

Genuine Parts Company 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.