Caisse DE Depot ET Placement DU Quebec Boosts Stock Holdings in Genuine Parts (NYSE:GPC)

Caisse DE Depot ET Placement DU Quebec lifted its position in Genuine Parts (NYSE:GPC) by 1,038.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 277,802 shares of the specialty retailer’s stock after purchasing an additional 253,400 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.20% of Genuine Parts worth $38,803,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GPC. Ashton Thomas Securities LLC bought a new stake in Genuine Parts during the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP purchased a new stake in shares of Genuine Parts during the third quarter valued at approximately $31,000. Concord Wealth Partners increased its position in shares of Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 119 shares in the last quarter. Triad Wealth Partners LLC purchased a new position in Genuine Parts in the 2nd quarter worth approximately $40,000. Finally, Catalyst Capital Advisors LLC bought a new position in Genuine Parts in the 3rd quarter valued at approximately $44,000. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GPC shares. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. decreased their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. The Goldman Sachs Group dropped their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Wedbush decreased their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, UBS Group dropped their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $139.57.

Genuine Parts Stock Performance

GPC opened at $126.73 on Monday. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a market cap of $17.62 billion, a price-to-earnings ratio of 16.31 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. The company’s 50 day moving average is $128.43 and its 200 day moving average is $136.28.

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

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

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.