Congress Wealth Management LLC DE Has $3.52 Million Stock Position in Genuine Parts (NYSE:GPC)

Congress Wealth Management LLC DE decreased its holdings in shares of Genuine Parts (NYSE:GPC) by 53.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,106 shares of the specialty retailer’s stock after selling 34,984 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Genuine Parts were worth $3,515,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in GPC. Millstone Evans Group LLC acquired a new position in shares of Genuine Parts in the fourth quarter worth $25,000. Kestra Investment Management LLC acquired a new stake in Genuine Parts in the 4th quarter worth approximately $28,000. First Command Advisory Services Inc. acquired a new stake in shares of Genuine Parts in the fourth quarter worth $28,000. Compass Planning Associates Inc bought a new stake in Genuine Parts during the fourth quarter valued at about $29,000. Finally, Synergy Asset Management LLC bought a new stake in Genuine Parts during the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on GPC. Evercore ISI decreased their price target on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Loop Capital initiated coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Finally, Truist Financial lifted their price target on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $137.63.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $118.32 on Thursday. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The stock has a market capitalization of $16.42 billion, a price-to-earnings ratio of 18.29 and a beta of 0.93. The firm has a fifty day moving average of $121.10 and a two-hundred day moving average of $124.31.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the prior year, the firm earned $2.26 earnings per share. As a group, equities research analysts predict that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be given a dividend of $1.03 per share. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Friday, March 7th. Genuine Parts’s dividend payout ratio is currently 63.68%.

Genuine Parts Company Profile

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.