Aspire Private Capital LLC Purchases New Shares in Genuine Parts (NYSE:GPC)

Aspire Private Capital LLC acquired a new position in Genuine Parts (NYSE:GPC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,990 shares of the specialty retailer’s stock, valued at approximately $232,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board lifted its position in Genuine Parts by 45.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 22,207 shares of the specialty retailer’s stock valued at $3,072,000 after acquiring an additional 6,911 shares during the period. Sei Investments Co. lifted its holdings in shares of Genuine Parts by 11.7% during the second quarter. Sei Investments Co. now owns 118,676 shares of the specialty retailer’s stock valued at $16,413,000 after purchasing an additional 12,437 shares during the last quarter. Ensign Peak Advisors Inc boosted its position in shares of Genuine Parts by 6.9% in the 2nd quarter. Ensign Peak Advisors Inc now owns 47,665 shares of the specialty retailer’s stock worth $6,593,000 after purchasing an additional 3,095 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Genuine Parts by 78.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 490 shares of the specialty retailer’s stock worth $72,000 after buying an additional 216 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its stake in shares of Genuine Parts by 66.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 5,268 shares of the specialty retailer’s stock worth $729,000 after buying an additional 2,095 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Truist Financial dropped their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Loop Capital began coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Wedbush dropped their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and a consensus target price of $141.50.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the sale, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.37% of the stock is owned by insiders.

Genuine Parts Trading Down 2.0 %

Shares of NYSE:GPC opened at $117.66 on Thursday. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The stock has a market capitalization of $16.36 billion, a price-to-earnings ratio of 15.14 and a beta of 0.95. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The stock’s 50-day simple moving average is $120.43 and its two-hundred day simple moving average is $130.09.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the firm posted $2.49 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Analysts expect 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 was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were paid a $1.00 dividend. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.40%. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

Genuine Parts Company 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.