Intact Investment Management Inc. Increases Position in Genuine Parts (NYSE:GPC)

Intact Investment Management Inc. increased its holdings in Genuine Parts (NYSE:GPC) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,662 shares of the specialty retailer’s stock after acquiring an additional 1,400 shares during the period. Intact Investment Management Inc.’s holdings in Genuine Parts were worth $4,702,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Van ECK Associates Corp grew its holdings in Genuine Parts by 11.0% during the third quarter. Van ECK Associates Corp now owns 23,057 shares of the specialty retailer’s stock valued at $3,221,000 after purchasing an additional 2,286 shares during the period. Conning Inc. raised its position in shares of Genuine Parts by 8.2% in the third quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock worth $36,499,000 after buying an additional 19,795 shares in the last quarter. VELA Investment Management LLC raised its position in Genuine Parts by 24.3% during the third quarter. VELA Investment Management LLC now owns 3,884 shares of the specialty retailer’s stock valued at $543,000 after purchasing an additional 760 shares in the last quarter. Farther Finance Advisors LLC raised its position in Genuine Parts by 90.6% during the third quarter. Farther Finance Advisors LLC now owns 3,300 shares of the specialty retailer’s stock valued at $461,000 after purchasing an additional 1,569 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV raised its position in Genuine Parts by 5.2% during the third quarter. Creative Financial Designs Inc. ADV now owns 5,744 shares of the specialty retailer’s stock valued at $802,000 after purchasing an additional 282 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GPC has been the topic of several analyst reports. Wedbush decreased their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. UBS Group cut their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Truist Financial lowered their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Evercore ISI boosted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $139.57.

Genuine Parts Trading Up 2.1 %

Shares of Genuine Parts stock opened at $116.05 on Tuesday. The company has a market capitalization of $16.14 billion, a P/E ratio of 14.94 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The company has a fifty day moving average of $134.72 and a 200 day moving average of $141.06. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same period last year, the company earned $2.49 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, sell-side analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

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.