Truist Financial Corp Trims Stock Position in Genuine Parts Company $GPC

Truist Financial Corp cut its holdings in shares of Genuine Parts Company (NYSE:GPC) by 0.9% in the fourth quarter, HoldingsChannel reports. The firm owned 1,013,274 shares of the specialty retailer’s stock after selling 8,747 shares during the period. Truist Financial Corp’s holdings in Genuine Parts were worth $124,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Genuine Parts by 0.3% in the third quarter. Vanguard Group Inc. now owns 17,365,970 shares of the specialty retailer’s stock valued at $2,406,923,000 after purchasing an additional 56,792 shares during the period. Jefferies Financial Group Inc. purchased a new stake in Genuine Parts during the 3rd quarter worth $4,213,000. Dana Investment Advisors Inc. lifted its holdings in Genuine Parts by 15.8% in the 3rd quarter. Dana Investment Advisors Inc. now owns 84,427 shares of the specialty retailer’s stock worth $11,702,000 after buying an additional 11,539 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Genuine Parts by 4.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 549,830 shares of the specialty retailer’s stock valued at $76,206,000 after buying an additional 21,820 shares during the last quarter. Finally, TABR Capital Management LLC purchased a new position in Genuine Parts in the 4th quarter valued at about $4,217,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Trading Down 1.3%

Shares of NYSE GPC opened at $103.61 on Tuesday. The company has a quick ratio of 0.48, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The stock’s 50 day moving average price is $108.86 and its two-hundred day moving average price is $123.38. Genuine Parts Company has a 52-week low of $96.08 and a 52-week high of $151.57. The stock has a market capitalization of $14.26 billion, a P/E ratio of 240.95 and a beta of 0.70.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, April 21st. The specialty retailer reported $1.77 EPS for the quarter, topping the consensus estimate of $1.75 by $0.02. Genuine Parts had a return on equity of 22.28% and a net margin of 0.24%.The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.17 billion. During the same quarter last year, the firm earned $1.75 EPS. The business’s revenue was up 6.8% on a year-over-year basis. Genuine Parts has set its FY 2026 guidance at 7.500-8.000 EPS. On average, analysts anticipate that Genuine Parts Company will post 7.73 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th will be issued a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Friday, June 5th. Genuine Parts’s payout ratio is currently 988.37%.

Wall Street Analysts Forecast Growth

GPC has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a research report on Friday, March 27th. Zacks Research downgraded Genuine Parts from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 25th. UBS Group lowered their price objective on Genuine Parts from $135.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, April 22nd. Evercore set a $160.00 price objective on Genuine Parts in a report on Friday, February 20th. Finally, Raymond James Financial raised Genuine Parts from a “market perform” rating to a “strong-buy” rating and set a $145.00 target price on the stock in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and a consensus price target of $143.71.

Genuine Parts 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.