Nomura Holdings Inc. Buys 45,711 Shares of Genuine Parts (NYSE:GPC)

Nomura Holdings Inc. grew its stake in shares of Genuine Parts (NYSE:GPCFree Report) by 582.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,561 shares of the specialty retailer’s stock after buying an additional 45,711 shares during the period. Nomura Holdings Inc.’s holdings in Genuine Parts were worth $7,418,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assetmark Inc. increased its position in shares of Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 96 shares during the period. Orion Capital Management LLC purchased a new position in shares of Genuine Parts during the third quarter worth about $42,000. Costello Asset Management INC grew its holdings in shares of Genuine Parts by 200.0% during the fourth quarter. Costello Asset Management INC now owns 300 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 200 shares in the last quarter. HHM Wealth Advisors LLC purchased a new position in shares of Genuine Parts during the fourth quarter worth about $46,000. Finally, BKM Wealth Management LLC purchased a new position in shares of Genuine Parts during the fourth quarter worth about $47,000. 78.83% of the stock is currently owned by institutional investors.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the transaction, the director now owns 13,006 shares in the company, valued at $1,967,677.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now owns 14,397 shares in the company, valued at $2,230,383.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Wendy B. Needham sold 3,000 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the transaction, the director now owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The disclosure for this sale can be found here. 0.37% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GPC. Wedbush reissued a “neutral” rating and set a $170.00 price objective (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Jefferies Financial Group upped their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Evercore ISI cut their target price on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, May 24th. Finally, Truist Financial upped their target price on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $171.33.

Read Our Latest Stock Report on GPC

Genuine Parts Stock Performance

NYSE:GPC opened at $142.47 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The firm has a market cap of $19.85 billion, a PE ratio of 15.88 and a beta of 0.93. The business has a 50 day moving average price of $151.66 and a 200-day moving average price of $146.09. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $170.57.

Genuine Parts (NYSE:GPCGet Free Report) last announced its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.14 earnings per share. Equities research analysts predict that Genuine Parts will post 9.92 earnings per share for the current year.

Genuine Parts Dividend Announcement

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 issued a dividend of $1.00 per share. The ex-dividend date is Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.81%. Genuine Parts’s dividend payout ratio is presently 44.59%.

About Genuine Parts

(Free Report)

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.

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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