Genuine Parts (NYSE:GPC) Shares Acquired by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. boosted its position in Genuine Parts (NYSE:GPC) by 3.9% in the 4th quarter, Holdings Channel reports. The fund owned 14,416 shares of the specialty retailer’s stock after purchasing an additional 541 shares during the period. Meridian Investment Counsel Inc.’s holdings in Genuine Parts were worth $1,683,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. CreativeOne Wealth LLC purchased a new position in Genuine Parts during the third quarter worth about $620,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Genuine Parts by 13.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,886 shares of the specialty retailer’s stock worth $4,314,000 after buying an additional 3,601 shares during the period. Fiduciary Trust Co lifted its position in Genuine Parts by 40.9% during the 3rd quarter. Fiduciary Trust Co now owns 2,406 shares of the specialty retailer’s stock worth $336,000 after acquiring an additional 698 shares in the last quarter. Public Sector Pension Investment Board grew its position in Genuine Parts by 15.2% in the third quarter. Public Sector Pension Investment Board now owns 6,068 shares of the specialty retailer’s stock valued at $848,000 after acquiring an additional 800 shares in the last quarter. Finally, PEAK6 Investments LLC purchased a new position in shares of Genuine Parts in the third quarter valued at $3,089,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $118.49 on Monday. The stock has a market cap of $16.44 billion, a P/E ratio of 18.31 and a beta of 0.93. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The firm’s 50-day simple moving average is $121.13 and its 200 day simple moving average is $124.00. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same quarter last year, the business earned $2.26 earnings per share. Equities analysts expect that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The firm 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 positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 3.48%. Genuine Parts’s dividend payout ratio (DPR) is 63.68%.

Wall Street Analyst Weigh In

A number of brokerages have commented on GPC. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Evercore ISI dropped their target price on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Loop Capital began coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective on the stock. Finally, Truist Financial lifted their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $137.63.

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.