Nuveen LLC Invests $41.65 Million in Genuine Parts Company (NYSE:GPC)

Nuveen LLC bought a new position in shares of Genuine Parts Company (NYSE:GPC) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 349,559 shares of the specialty retailer’s stock, valued at approximately $41,646,000.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Genuine Parts by 12.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer’s stock worth $198,338,000 after buying an additional 182,965 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Genuine Parts by 436.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer’s stock worth $3,672,000 after buying an additional 25,583 shares during the period. Parvin Asset Management LLC acquired a new position in shares of Genuine Parts during the 4th quarter worth about $1,320,000. FORA Capital LLC grew its position in shares of Genuine Parts by 410.9% during the 4th quarter. FORA Capital LLC now owns 26,332 shares of the specialty retailer’s stock worth $3,075,000 after buying an additional 21,178 shares during the period. Finally, Bastion Asset Management Inc. acquired a new position in shares of Genuine Parts during the 4th quarter worth about $3,391,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on GPC shares. JPMorgan Chase & Co. boosted their price objective on Genuine Parts from $134.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Evercore ISI lowered their target price on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. UBS Group increased their target price on Genuine Parts from $125.00 to $135.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 23rd. Argus raised Genuine Parts to a “strong-buy” rating in a research note on Friday, April 25th. Finally, Wall Street Zen cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. One analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and a consensus price target of $135.29.

Genuine Parts Trading Up 0.0%

NYSE:GPC opened at $137.79 on Friday. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $144.49. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79. The business has a 50 day moving average price of $126.96 and a two-hundred day moving average price of $122.74. The company has a market cap of $19.17 billion, a P/E ratio of 23.72 and a beta of 0.75.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.02. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%. The firm had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter in the prior year, the firm posted $2.44 EPS. The business’s revenue was up 3.4% on a year-over-year basis. As a group, analysts expect that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 5th. Genuine Parts’s dividend payout ratio is presently 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.