Inspire Advisors LLC Raises Position in Genuine Parts (NYSE:GPC)

Inspire Advisors LLC lifted its stake in shares of Genuine Parts (NYSE:GPC) by 19.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,726 shares of the specialty retailer’s stock after purchasing an additional 601 shares during the period. Inspire Advisors LLC’s holdings in Genuine Parts were worth $520,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Wulff Hansen & CO. increased its stake in shares of Genuine Parts by 13,732.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock worth $216,675,000 after purchasing an additional 1,555,149 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Genuine Parts by 21.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock worth $189,296,000 after purchasing an additional 239,858 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of Genuine Parts by 29.6% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock worth $135,579,000 after purchasing an additional 223,712 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Genuine Parts by 2.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 544,579 shares of the specialty retailer’s stock worth $75,326,000 after purchasing an additional 13,753 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC increased its stake in shares of Genuine Parts by 49.2% during the 2nd quarter. Sugarloaf Wealth Management LLC now owns 467,048 shares of the specialty retailer’s stock worth $673,000 after purchasing an additional 153,981 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GPC shares. Wedbush lowered their target price on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. The Goldman Sachs Group lowered their target price on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Truist Financial reissued a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a report on Wednesday, August 28th. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, UBS Group lowered their target price on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Genuine Parts has a consensus rating of “Hold” and a consensus price target of $157.29.

Genuine Parts Trading Down 0.3 %

Genuine Parts stock opened at $143.21 on Friday. The stock has a market cap of $19.95 billion, a P/E ratio of 15.97 and a beta of 0.90. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $164.45. The firm’s fifty day moving average price is $138.97 and its 200-day moving average price is $143.26. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.59 by ($0.15). The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.44 EPS. Equities research analysts forecast that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a $1.00 dividend. The ex-dividend date was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.79%. Genuine Parts’s dividend payout ratio is presently 44.59%.

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.