Main Street Financial Solutions LLC Grows Stake in Genuine Parts (NYSE:GPC)

Main Street Financial Solutions LLC grew its stake in Genuine Parts (NYSE:GPC) by 44.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,577 shares of the specialty retailer’s stock after purchasing an additional 1,104 shares during the period. Main Street Financial Solutions LLC’s holdings in Genuine Parts were worth $500,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. boosted its stake in Genuine Parts by 12.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 127,813 shares of the specialty retailer’s stock worth $17,853,000 after buying an additional 14,084 shares during the period. Saturna Capital Corp lifted its holdings in shares of Genuine Parts by 0.5% in the 3rd quarter. Saturna Capital Corp now owns 383,800 shares of the specialty retailer’s stock worth $53,609,000 after acquiring an additional 1,800 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Genuine Parts by 59.9% during the 3rd quarter. Victory Capital Management Inc. now owns 199,232 shares of the specialty retailer’s stock worth $27,829,000 after purchasing an additional 74,607 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Genuine Parts by 2.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 385,026 shares of the specialty retailer’s stock valued at $53,780,000 after purchasing an additional 7,734 shares during the last quarter. Finally, WealthPlan Investment Management LLC raised its position in Genuine Parts by 7.3% in the 3rd quarter. WealthPlan Investment Management LLC now owns 70,949 shares of the specialty retailer’s stock worth $9,910,000 after purchasing an additional 4,836 shares during the period. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Up 0.2 %

Shares of NYSE:GPC opened at $123.87 on Friday. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The business’s fifty day simple moving average is $131.02 and its 200-day simple moving average is $138.84. The company has a market capitalization of $17.22 billion, a PE ratio of 15.94 and a beta of 0.92. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.49 earnings per share. As a group, equities research analysts predict that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 3.23%. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

Analysts Set New Price Targets

A number of research analysts have recently commented on GPC shares. Wedbush cut their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Truist Financial decreased their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Evercore ISI boosted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Finally, Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research note on Monday. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $139.57.

Genuine Parts 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.