KLP Kapitalforvaltning AS Buys 900 Shares of Genuine Parts Company $GPC

KLP Kapitalforvaltning AS grew its stake in shares of Genuine Parts Company (NYSE:GPC) by 1.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 49,802 shares of the specialty retailer’s stock after purchasing an additional 900 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Genuine Parts were worth $6,085,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Rossby Financial LCC bought a new stake in Genuine Parts in the 1st quarter valued at $25,000. Olde Wealth Management LLC bought a new stake in shares of Genuine Parts in the first quarter worth about $27,000. North Capital Inc. bought a new stake in shares of Genuine Parts in the first quarter worth about $28,000. Golden State Wealth Management LLC increased its holdings in shares of Genuine Parts by 7,950.0% in the first quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 318 shares during the last quarter. Finally, Cromwell Holdings LLC increased its stake in Genuine Parts by 49.1% in the 2nd quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock worth $42,000 after acquiring an additional 114 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the company’s stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $138.12, for a total value of $732,450.36. Following the transaction, the executive vice president directly owned 26,112 shares in the company, valued at $3,606,589.44. This represents a 16.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GPC has been the topic of several research reports. UBS Group boosted their price target on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Genuine Parts in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Evercore ISI boosted their price objective on Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Finally, Loop Capital boosted their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $138.86.

Genuine Parts Trading Down 0.9%

GPC opened at $130.34 on Friday. The stock has a market cap of $18.13 billion, a price-to-earnings ratio of 22.43 and a beta of 0.77. The stock’s 50 day moving average price is $137.52 and its 200-day moving average price is $127.29. Genuine Parts Company has a one year low of $104.01 and a one year high of $144.29. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, beating the consensus estimate of $2.08 by $0.02. The company had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.Genuine Parts’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, equities analysts forecast that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Friday, September 5th. Genuine Parts’s dividend payout ratio is currently 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.