Nilsine Partners LLC Buys New Position in Genuine Parts (NYSE:GPC)

Nilsine Partners LLC bought a new stake in shares of Genuine Parts (NYSE:GPC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,517 shares of the specialty retailer’s stock, valued at approximately $235,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GPC. OFI Invest Asset Management bought a new position in Genuine Parts in the third quarter worth approximately $25,000. Assetmark Inc. boosted its holdings in Genuine Parts by 109.1% in the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 96 shares in the last quarter. WD Rutherford LLC bought a new position in Genuine Parts in the first quarter worth approximately $26,000. Briaud Financial Planning Inc bought a new position in Genuine Parts in the third quarter worth approximately $28,000. Finally, Milestone Investment Advisors LLC bought a new position in Genuine Parts in the third quarter worth approximately $28,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Shares of GPC traded down $4.16 on Tuesday, reaching $157.21. 1,558,772 shares of the company’s stock traded hands, compared to its average volume of 1,074,668. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. The stock has a market cap of $21.90 billion, a PE ratio of 17.53 and a beta of 0.94. The stock’s 50 day simple moving average is $152.49 and its two-hundred day simple moving average is $143.02. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $174.91.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. Genuine Parts’s revenue was up .3% on a year-over-year basis. During the same period last year, the business posted $2.14 earnings per share. On average, analysts forecast that Genuine Parts will post 9.89 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company 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 $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.54%. Genuine Parts’s dividend payout ratio is currently 44.59%.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the sale, the director now directly owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on GPC shares. Truist Financial increased their price target on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Evercore ISI lowered their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Jefferies Financial Group increased their price objective on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Finally, Wedbush reissued a “neutral” rating and issued a $170.00 price objective (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Genuine Parts currently has a consensus rating of “Hold” and a consensus price target of $173.10.

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.