Verition Fund Management LLC Acquires 4,194 Shares of Genuine Parts (NYSE:GPC)

Verition Fund Management LLC raised its holdings in Genuine Parts (NYSE:GPCGet Rating) by 145.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,071 shares of the specialty retailer’s stock after acquiring an additional 4,194 shares during the period. Verition Fund Management LLC’s holdings in Genuine Parts were worth $891,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Tompkins Financial Corp bought a new stake in shares of Genuine Parts during the first quarter worth about $36,000. Quent Capital LLC bought a new stake in shares of Genuine Parts during the fourth quarter worth about $40,000. Bromfield Sneider Wealth Advisors bought a new stake in shares of Genuine Parts during the first quarter worth about $42,000. US Asset Management LLC bought a new stake in shares of Genuine Parts during the first quarter worth about $45,000. Finally, Rosenberg Matthew Hamilton grew its holdings in shares of Genuine Parts by 29.3% during the first quarter. Rosenberg Matthew Hamilton now owns 371 shares of the specialty retailer’s stock worth $47,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 78.27% of the company’s stock.

Genuine Parts Price Performance

Genuine Parts stock opened at $155.60 on Thursday. The stock’s 50 day moving average is $153.57 and its 200 day moving average is $139.38. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.17 and a quick ratio of 0.58. The firm has a market cap of $22.01 billion, a P/E ratio of 20.16, a P/E/G ratio of 1.99 and a beta of 0.97. Genuine Parts has a one year low of $115.63 and a one year high of $164.99.

Genuine Parts (NYSE:GPCGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The specialty retailer reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. Genuine Parts had a return on equity of 31.67% and a net margin of 5.38%. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same period in the previous year, the firm earned $1.74 earnings per share. The company’s revenue was up 17.1% compared to the same quarter last year. As a group, research analysts expect that Genuine Parts will post 7.97 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be paid a $0.895 dividend. This represents a $3.58 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Thursday, September 1st. Genuine Parts’s dividend payout ratio (DPR) is presently 46.37%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Wedbush boosted their price target on Genuine Parts from $140.00 to $150.00 in a report on Thursday, July 28th. StockNews.com raised Genuine Parts from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 17th. Finally, Evercore ISI cut their price objective on Genuine Parts to $135.00 in a research note on Thursday, June 9th. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts has an average rating of “Hold” and an average target price of $140.20.

Genuine Parts Company Profile

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Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, 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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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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