Vestmark Advisory Solutions Inc. Purchases Shares of 1,534 Genuine Parts (NYSE:GPC)

Vestmark Advisory Solutions Inc. acquired a new position in shares of Genuine Parts (NYSE:GPC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,534 shares of the specialty retailer’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GPC. Invesco Ltd. grew its stake in shares of Genuine Parts by 71.1% in the third quarter. Invesco Ltd. now owns 2,590,036 shares of the specialty retailer’s stock worth $373,949,000 after purchasing an additional 1,076,361 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Genuine Parts by 15,175.4% during the 4th quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock worth $98,758,000 after buying an additional 708,388 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Genuine Parts by 17.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,521,786 shares of the specialty retailer’s stock worth $345,130,000 after acquiring an additional 367,665 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Genuine Parts by 23.7% in the third quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock valued at $235,916,000 after acquiring an additional 313,438 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Genuine Parts by 19.8% during the third quarter. Envestnet Asset Management Inc. now owns 892,717 shares of the specialty retailer’s stock worth $128,890,000 after purchasing an additional 147,674 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Insider Transactions at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.37% of the stock is currently owned by corporate insiders.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $154.88 on Wednesday. The business’s 50-day simple moving average is $153.64 and its 200-day simple moving average is $143.61. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $174.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The firm has a market cap of $21.57 billion, a price-to-earnings ratio of 17.27 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The company had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.14 earnings per share. As a group, equities research analysts expect that Genuine Parts will post 9.94 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Friday, June 7th. Genuine Parts’s dividend payout ratio is currently 44.59%.

Analysts Set New Price Targets

GPC has been the topic of several research analyst reports. Wedbush reiterated a “neutral” rating and set a $170.00 price target (up from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Evercore ISI reduced their target price on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a report on Tuesday, April 16th. Truist Financial upped their price target on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 19th. Jefferies Financial Group raised their price objective on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Finally, StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and an average price target of $173.10.

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.