Horizon Investments LLC grew its holdings in shares of Genuine Parts (NYSE:GPC) by 4.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,160 shares of the specialty retailer’s stock after buying an additional 1,133 shares during the quarter. Horizon Investments LLC’s holdings in Genuine Parts were worth $2,931,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Genuine Parts in the 4th quarter valued at about $2,823,000. Nicholas Company Inc. grew its stake in Genuine Parts by 2.9% in the 4th quarter. Nicholas Company Inc. now owns 37,590 shares of the specialty retailer’s stock valued at $3,609,000 after buying an additional 1,060 shares during the last quarter. Independent Advisor Alliance grew its stake in Genuine Parts by 7.3% in the 1st quarter. Independent Advisor Alliance now owns 23,001 shares of the specialty retailer’s stock valued at $2,577,000 after buying an additional 1,562 shares during the last quarter. Farmers National Bank acquired a new position in Genuine Parts in the 1st quarter valued at about $324,000. Finally, Legal & General Group Plc grew its stake in Genuine Parts by 12.5% in the 4th quarter. Legal & General Group Plc now owns 877,249 shares of the specialty retailer’s stock valued at $84,222,000 after buying an additional 97,768 shares during the last quarter. 76.32% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:GPC traded up $0.40 on Monday, reaching $103.33. 724 shares of the company’s stock were exchanged, compared to its average volume of 591,447. Genuine Parts has a twelve month low of $90.37 and a twelve month high of $115.20. The firm has a market cap of $15.08 billion, a PE ratio of 18.21, a PEG ratio of 3.40 and a beta of 0.95. The company has a quick ratio of 0.64, a current ratio of 1.20 and a debt-to-equity ratio of 0.67.
Genuine Parts (NYSE:GPC) last announced its earnings results on Thursday, April 18th. The specialty retailer reported $1.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.03). Genuine Parts had a return on equity of 23.46% and a net margin of 4.20%. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.79 billion. During the same quarter in the previous year, the company earned $1.27 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, research analysts expect that Genuine Parts will post 5.9 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a dividend of $0.7625 per share. The ex-dividend date is Thursday, June 6th. This represents a $3.05 dividend on an annualized basis and a dividend yield of 2.95%. Genuine Parts’s payout ratio is presently 53.70%.
A number of brokerages recently commented on GPC. Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating in a research note on Monday, May 20th. Evercore ISI initiated coverage on shares of Genuine Parts in a research report on Wednesday, March 20th. They set an “in-line” rating and a $110.00 target price on the stock. Stephens initiated coverage on shares of Genuine Parts in a research report on Thursday, May 30th. They set an “overweight” rating and a $114.00 target price on the stock. Finally, ValuEngine upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Genuine Parts has a consensus rating of “Hold” and an average price target of $105.33.
In other Genuine Parts news, insider Scott Sonnemaker bought 5,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were purchased at an average price of $99.01 per share, for a total transaction of $495,050.00. Following the transaction, the insider now directly owns 5,000 shares in the company, valued at approximately $495,050. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.50% of the company’s stock.
About Genuine Parts
Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment; and accessory items for automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.
Further Reading: Sell-Side Analysts
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