Bank of Nova Scotia Invests $1.72 Million in Genuine Parts Company $GPC

Bank of Nova Scotia acquired a new stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 14,564 shares of the specialty retailer's stock, valued at approximately $1,718,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strive Financial Group LLC bought a new position in shares of Genuine Parts during the 4th quarter valued at $25,000. Motiv8 Investments LLC bought a new stake in shares of Genuine Parts in the fourth quarter worth $31,000. Elyxium Wealth LLC purchased a new stake in Genuine Parts during the fourth quarter valued at $33,000. Elevation Wealth Partners LLC increased its position in Genuine Parts by 510.9% during the second quarter. Elevation Wealth Partners LLC now owns 281 shares of the specialty retailer's stock valued at $33,000 after acquiring an additional 235 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Genuine Parts by 6,225.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 253 shares of the specialty retailer's stock valued at $35,000 after acquiring an additional 249 shares during the period. Institutional investors own 78.83% of the company's stock.

Genuine Parts Price Performance

NYSE GPC opened at $139.37 on Thursday. The business's fifty day moving average is $125.95 and its 200 day moving average is $114.99. Genuine Parts Company has a fifty-two week low of $90.78 and a fifty-two week high of $151.57. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.50 and a current ratio of 1.16. The company has a market capitalization of $19.21 billion, a PE ratio of 557.48 and a beta of 0.63.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The specialty retailer reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.07. Genuine Parts had a return on equity of 22.59% and a net margin of 0.13%.The business had revenue of $6.54 billion during the quarter, compared to analysts' expectations of $6.43 billion. During the same quarter in the prior year, the business posted $2.10 earnings per share. The business's quarterly revenue was up 6.0% on a year-over-year basis. Genuine Parts has set its FY 2026 guidance at 7.500-8.000 EPS. Sell-side analysts predict that Genuine Parts Company will post 7.73 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 4th will be given a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, September 4th. Genuine Parts's payout ratio is presently 1,700.00%.

Analyst Ratings Changes

GPC has been the subject of a number of recent research reports. Zacks Research upgraded Genuine Parts from a "strong sell" rating to a "hold" rating in a research note on Monday, May 25th. DA Davidson increased their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Raymond James Financial reissued a "strong-buy" rating and issued a $165.00 price objective on shares of Genuine Parts in a report on Wednesday, July 22nd. Weiss Ratings restated a "hold (c-)" rating on shares of Genuine Parts in a research report on Wednesday, June 24th. Finally, UBS Group reaffirmed a "neutral" rating and set a $122.00 target price on shares of Genuine Parts in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.86.

Genuine Parts Profile

Genuine Parts Company NYSE: GPC is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.

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