Genuine Parts (NYSE:GPC) Shares Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its stake in shares of Genuine Parts (NYSE:GPC) by 6.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 13,367 shares of the specialty retailer’s stock after purchasing an additional 813 shares during the period. Concurrent Investment Advisors LLC’s holdings in Genuine Parts were worth $1,561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in shares of Genuine Parts during the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP purchased a new position in shares of Genuine Parts during the 3rd quarter worth $31,000. Kestra Investment Management LLC purchased a new position in shares of Genuine Parts during the 4th quarter worth $28,000. Concord Wealth Partners lifted its stake in shares of Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 119 shares during the period. Finally, Synergy Asset Management LLC acquired a new stake in shares of Genuine Parts during the 4th quarter worth $32,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the firm’s 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 sale, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GPC has been the subject of a number of research analyst reports. Evercore ISI dropped their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a report on Monday, November 11th. Loop Capital initiated coverage on Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Truist Financial increased their price target on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $137.63.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $121.68 on Friday. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The firm’s 50-day moving average price is $118.29 and its two-hundred day moving average price is $127.07. 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 $16.92 billion, a P/E ratio of 18.81 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The firm had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter last year, the company posted $2.26 earnings per share. As a group, sell-side analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 3.39%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio (DPR) is presently 63.68%.

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.