MQS Management LLC Buys New Position in Genuine Parts (NYSE:GPC)

MQS Management LLC bought a new stake in Genuine Parts (NYSE:GPC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,198 shares of the specialty retailer’s stock, valued at approximately $719,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. WD Rutherford LLC acquired a new stake in Genuine Parts in the first quarter worth approximately $26,000. Assetmark Inc. lifted its holdings in shares of Genuine Parts by 109.1% in the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 96 shares during the period. Union Savings Bank boosted its stake in Genuine Parts by 100.0% during the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock valued at $31,000 after buying an additional 100 shares in the last quarter. Thompson Investment Management Inc. acquired a new position in Genuine Parts during the first quarter worth about $35,000. Finally, Stephens Consulting LLC raised its position in Genuine Parts by 740.7% in the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GPC shares. Wedbush reduced their price objective on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. UBS Group decreased their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Truist Financial reaffirmed a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a report on Wednesday, August 28th. Evercore ISI dropped their price target on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research note on Wednesday, July 24th. Finally, StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Genuine Parts currently has a consensus rating of “Hold” and an average target price of $161.14.

Genuine Parts Stock Up 0.5 %

Shares of Genuine Parts stock opened at $138.08 on Thursday. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45. The company has a market cap of $19.23 billion, a P/E ratio of 15.39 and a beta of 0.90. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average price of $139.59 and a 200 day moving average price of $145.51.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.59 by ($0.15). The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.44 EPS. As a group, analysts expect that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 2.90%. Genuine Parts’s dividend payout ratio is presently 44.59%.

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.