Genuine Parts (NYSE:GPC) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. lowered its holdings in Genuine Parts (NYSE:GPC) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,606 shares of the specialty retailer’s stock after selling 500 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Genuine Parts were worth $9,225,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Genuine Parts by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 17,088,101 shares of the specialty retailer’s stock valued at $2,153,442,000 after buying an additional 481,039 shares during the period. State Street Corp raised its holdings in shares of Genuine Parts by 2.4% in the 1st quarter. State Street Corp now owns 7,189,643 shares of the specialty retailer’s stock valued at $1,209,476,000 after buying an additional 171,000 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Genuine Parts by 4.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,860,574 shares of the specialty retailer’s stock worth $612,531,000 after acquiring an additional 185,529 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Genuine Parts by 1.3% in the 1st quarter. Geode Capital Management LLC now owns 2,977,671 shares of the specialty retailer’s stock valued at $497,089,000 after buying an additional 36,774 shares during the last quarter. Finally, Imprint Wealth LLC raised its stake in Genuine Parts by 16,507.5% during the 2nd quarter. Imprint Wealth LLC now owns 2,611,194 shares of the specialty retailer’s stock worth $261,119,000 after acquiring an additional 2,595,471 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Wedbush reiterated a “neutral” rating and set a $140.00 price target on shares of Genuine Parts in a research note on Friday, February 16th. Evercore ISI lifted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, March 26th. Finally, Truist Financial reiterated a “buy” rating and set a $167.00 price target on shares of Genuine Parts in a research note on Friday. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $168.89.

Insider Activity

In other news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.37% of the company’s stock.

Genuine Parts Trading Down 0.4 %

NYSE GPC opened at $144.80 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.63 and a current ratio of 1.23. The firm has a market cap of $20.19 billion, a PE ratio of 15.52 and a beta of 0.94. Genuine Parts has a one year low of $126.35 and a one year high of $174.91. The firm’s fifty day moving average is $149.47 and its two-hundred day moving average is $142.08.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, February 15th. The specialty retailer reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.06. The company had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.64 billion. Genuine Parts had a net margin of 5.70% and a return on equity of 31.64%. Genuine Parts’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.05 earnings per share. Analysts expect that Genuine Parts will post 9.76 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a $1.00 dividend. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.76%. Genuine Parts’s payout ratio is presently 42.87%.

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.