Genuine Parts (NYSE:GPC) Position Reduced by Natixis Advisors LLC

Natixis Advisors LLC reduced its position in shares of Genuine Parts (NYSE:GPC) by 22.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 94,187 shares of the specialty retailer’s stock after selling 26,916 shares during the quarter. Natixis Advisors LLC owned about 0.07% of Genuine Parts worth $10,998,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Quantinno Capital Management LP boosted its stake in Genuine Parts by 74.0% during the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock valued at $1,580,000 after buying an additional 4,809 shares in the last quarter. Caprock Group LLC acquired a new position in shares of Genuine Parts in the 4th quarter worth approximately $540,000. Verity & Verity LLC raised its holdings in shares of Genuine Parts by 9.7% in the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock worth $12,198,000 after purchasing an additional 9,199 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Genuine Parts in the 4th quarter worth approximately $21,840,000. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Genuine Parts by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer’s stock valued at $42,417,000 after purchasing an additional 56,776 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Price Performance

Shares of GPC opened at $124.72 on Thursday. The business’s 50-day moving average is $120.84 and its 200-day moving average is $125.03. 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 company has a market capitalization of $17.31 billion, a price-to-earnings ratio of 19.28 and a beta of 0.93. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45.

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

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio (DPR) is 63.68%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on GPC shares. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Loop Capital began coverage on Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 target price on the stock. Truist Financial increased their price target on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Evercore ISI cut their price objective on 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 research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and a consensus target price of $137.63.

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.