Edgestream Partners L.P. Increases Position in Genuine Parts Company (NYSE:GPC)

Edgestream Partners L.P. increased its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 475.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,249 shares of the specialty retailer's stock after purchasing an additional 31,605 shares during the quarter. Edgestream Partners L.P.'s holdings in Genuine Parts were worth $4,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank purchased a new stake in Genuine Parts during the fourth quarter valued at $206,645,000. Junto Capital Management LP purchased a new stake in Genuine Parts in the fourth quarter worth about $94,868,000. Alyeska Investment Group L.P. increased its position in Genuine Parts by 204.7% in the fourth quarter. Alyeska Investment Group L.P. now owns 789,050 shares of the specialty retailer's stock worth $92,129,000 after buying an additional 530,057 shares in the last quarter. Invesco Ltd. increased its position in Genuine Parts by 18.9% in the fourth quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock worth $380,898,000 after buying an additional 518,851 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Genuine Parts by 20,194.9% in the first quarter. GAMMA Investing LLC now owns 476,322 shares of the specialty retailer's stock worth $56,749,000 after buying an additional 473,975 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

GPC has been the subject of a number of analyst reports. Truist Financial upped their price target on Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Evercore ISI dropped their price objective on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Wall Street Zen lowered Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Finally, Argus raised Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $130.86.

Genuine Parts Trading Down 0.5%

Shares of NYSE:GPC traded down $0.56 during trading on Friday, hitting $122.97. The company had a trading volume of 153,995 shares, compared to its average volume of 1,413,453. The stock has a market cap of $17.07 billion, a price-to-earnings ratio of 20.16 and a beta of 0.74. Genuine Parts Company has a one year low of $104.01 and a one year high of $149.22. The company has a fifty day simple moving average of $124.14 and a two-hundred day simple moving average of $120.56. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.15 and a quick ratio of 0.52.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.09. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.83 billion. As a group, equities analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th were issued a $1.03 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $4.12 annualized dividend and a dividend yield of 3.35%. Genuine Parts's payout ratio is 67.65%.

Genuine Parts 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.