Atria Wealth Solutions Inc. Raises Position in Genuine Parts (NYSE:GPC)

Atria Wealth Solutions Inc. increased its holdings in Genuine Parts (NYSE:GPC) by 6.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,500 shares of the specialty retailer’s stock after acquiring an additional 687 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Genuine Parts were worth $1,603,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in shares of Genuine Parts in the third quarter worth $25,000. Briaud Financial Planning Inc purchased a new stake in shares of Genuine Parts in the third quarter worth $28,000. Milestone Investment Advisors LLC purchased a new stake in shares of Genuine Parts in the third quarter worth $28,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of Genuine Parts in the third quarter worth $40,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Genuine Parts in the third quarter worth $42,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 2.6 %

Shares of NYSE:GPC opened at $157.21 on Wednesday. The stock’s 50-day moving average price is $152.49 and its 200-day moving average price is $143.02. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $174.91. The stock has a market capitalization of $21.90 billion, a P/E ratio of 17.53 and a beta of 0.94. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69.

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

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.54%. Genuine Parts’s payout ratio is presently 44.59%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is owned by insiders.

Genuine Parts 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.