Bank of Nova Scotia Makes New Investment in Genuine Parts Company $GPC

Bank of Nova Scotia acquired a new stake in shares of Genuine Parts Company (NYSE:GPC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,564 shares of the specialty retailer’s stock, valued at approximately $1,718,000.

Several other hedge funds have also recently modified their holdings of GPC. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Genuine Parts by 85.0% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 30,262 shares of the specialty retailer’s stock valued at $3,200,000 after buying an additional 13,900 shares in the last quarter. Montag A & Associates Inc. grew its stake in Genuine Parts by 19.6% in the 1st quarter. Montag A & Associates Inc. now owns 64,855 shares of the specialty retailer’s stock worth $6,923,000 after acquiring an additional 10,622 shares in the last quarter. Paradiem LLC purchased a new position in shares of Genuine Parts during the first quarter worth approximately $3,154,000. Hsbc Holdings PLC increased its position in shares of Genuine Parts by 19.5% during the fourth quarter. Hsbc Holdings PLC now owns 477,970 shares of the specialty retailer’s stock worth $58,887,000 after acquiring an additional 77,936 shares during the period. Finally, Conning Inc. raised its stake in shares of Genuine Parts by 5.7% during the fourth quarter. Conning Inc. now owns 246,390 shares of the specialty retailer’s stock valued at $30,296,000 after acquiring an additional 13,357 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

GPC has been the subject of a number of research reports. Truist Financial boosted their price target on Genuine Parts from $124.00 to $126.00 and gave the company a “hold” rating in a report on Wednesday, July 22nd. Zacks Research raised Genuine Parts from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Raymond James Financial reiterated a “strong-buy” rating and issued a $165.00 target price on shares of Genuine Parts in a report on Wednesday, July 22nd. UBS Group reissued a “neutral” rating and set a $122.00 price target on shares of Genuine Parts in a research report on Wednesday, July 22nd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Genuine Parts in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $147.86.

Genuine Parts Stock Performance

Shares of GPC stock opened at $139.37 on Thursday. The firm has a market cap of $19.21 billion, a price-to-earnings ratio of 557.48 and a beta of 0.63. The company’s 50 day moving average is $125.95 and its 200 day moving average is $114.99. The company has a quick ratio of 0.50, a current ratio of 1.16 and a debt-to-equity ratio of 0.88. Genuine Parts Company has a 52-week low of $90.78 and a 52-week high of $151.57.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, July 21st. The specialty retailer reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.07. The company had revenue of $6.54 billion during the quarter, compared to analyst estimates of $6.43 billion. Genuine Parts had a return on equity of 22.59% and a net margin of 0.13%.Genuine Parts’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.10 earnings per share. Genuine Parts has set its FY 2026 guidance at 7.500-8.000 EPS. On average, sell-side analysts anticipate that Genuine Parts Company will post 7.73 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 4th will be given a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 4th. Genuine Parts’s payout ratio is presently 1,700.00%.

Genuine Parts Company Profile

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.