Genuine Parts Company $GPC Shares Bought by Equity Investment Corp

Equity Investment Corp boosted its stake in shares of Genuine Parts Company (NYSE:GPC) by 1.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 743,758 shares of the specialty retailer’s stock after acquiring an additional 11,808 shares during the quarter. Genuine Parts comprises 1.9% of Equity Investment Corp’s investment portfolio, making the stock its 29th biggest holding. Equity Investment Corp owned 0.53% of Genuine Parts worth $90,225,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of GPC. Teacher Retirement System of Texas acquired a new stake in shares of Genuine Parts during the first quarter worth $2,422,000. Principal Financial Group Inc. lifted its stake in shares of Genuine Parts by 6.9% in the 1st quarter. Principal Financial Group Inc. now owns 183,700 shares of the specialty retailer’s stock worth $21,886,000 after acquiring an additional 11,848 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Genuine Parts by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 855,151 shares of the specialty retailer’s stock worth $101,883,000 after acquiring an additional 10,445 shares during the period. Concurrent Investment Advisors LLC lifted its stake in shares of Genuine Parts by 4.6% in the 1st quarter. Concurrent Investment Advisors LLC now owns 13,979 shares of the specialty retailer’s stock worth $1,665,000 after acquiring an additional 612 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in Genuine Parts by 0.9% in the first quarter. Envestnet Asset Management Inc. now owns 536,944 shares of the specialty retailer’s stock valued at $63,971,000 after purchasing an additional 4,928 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Down 0.7%

GPC opened at $122.69 on Wednesday. The firm has a 50 day moving average price of $135.70 and a 200 day moving average price of $129.44. The company has a market cap of $17.07 billion, a PE ratio of 21.12 and a beta of 0.75. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $143.48. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.04). Genuine Parts had a return on equity of 22.57% and a net margin of 3.36%.The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same period last year, the company posted $1.88 EPS. The firm’s revenue for the quarter 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. Sell-side analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

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

Insider Transactions at Genuine Parts

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

Wall Street Analysts Forecast Growth

GPC has been the subject of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday, October 8th. UBS Group raised their price target on Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Truist Financial raised their target price on Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Evercore ISI raised their target price on Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $143.33.

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.