Vaughan David Investments LLC IL trimmed its holdings in Genuine Parts (NYSE:GPC) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 224,917 shares of the specialty retailer’s stock after selling 2,390 shares during the quarter. Vaughan David Investments LLC IL’s holdings in Genuine Parts were worth $25,197,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Genuine Parts in the 4th quarter valued at $2,823,000. Nicholas Company Inc. increased 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 period. Farmers National Bank acquired a new position in Genuine Parts in the 1st quarter valued at $324,000. Independent Advisor Alliance increased 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 period. Finally, Legal & General Group Plc increased 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 period. 75.68% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:GPC traded up $0.43 on Wednesday, reaching $100.24. 166,525 shares of the company were exchanged, compared to its average volume of 952,205. 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 has a 1-year low of $89.87 and a 1-year high of $115.20. The stock has a market cap of $14.33 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 3.20 and a beta of 0.97.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $1.28 earnings per share 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 company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.79 billion. During the same period last year, the company earned $1.27 earnings per share. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts anticipate that Genuine Parts will post 5.9 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be paid 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 3.04%. Genuine Parts’s dividend payout ratio (DPR) is presently 53.70%.
In related news, insider Scott Sonnemaker purchased 5,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were acquired at an average cost of $99.01 per share, with a total value of $495,050.00. Following the purchase, the insider now directly owns 5,000 shares in the company, valued at approximately $495,050. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.50% of the company’s stock.
Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Genuine Parts from a “sell” rating to a “hold” rating in a research note on Monday. ValuEngine raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Tuesday, February 19th. Finally, Evercore ISI assumed coverage on shares of Genuine Parts in a research note on Wednesday, March 20th. They issued an “in-line” rating and a $110.00 price objective on the stock. Six research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus price target of $103.60.
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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.
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