Genuine Parts Company $GPC Shares Purchased by Pzena Investment Management LLC

Key Points

• Pzena Investment Management LLC significantly increased its holdings in Genuine Parts Company by 98.0%, acquiring an additional 295,064 shares during the 2nd quarter, bringing its total ownership to approximately 0.43% of the company valued at $72.3 million.
• Genuine Parts Company reported $2.10 earnings per share, slightly surpassing analyst expectations, with a total revenue of $6.16 billion for the quarter, reflecting a 3.4% increase compared to the previous year.
• The company recently declared a quarterly dividend of $1.03, with an annualized rate of $4.12 and a yield of 3.2%, maintaining a dividend payout ratio of 70.91%.

Pzena Investment Management LLC increased its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 98.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 596,051 shares of the specialty retailer's stock after acquiring an additional 295,064 shares during the period. Pzena Investment Management LLC owned approximately 0.43% of Genuine Parts worth $72,307,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rossby Financial LCC acquired a new position in Genuine Parts during the 1st quarter worth approximately $25,000. Olde Wealth Management LLC acquired a new position in Genuine Parts during the 1st quarter worth approximately $27,000. North Capital Inc. acquired a new position in Genuine Parts during the 1st quarter worth approximately $28,000. Golden State Wealth Management LLC raised its position in shares of Genuine Parts by 7,950.0% in the 1st quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer's stock valued at $38,000 after purchasing an additional 318 shares in the last quarter. Finally, Cromwell Holdings LLC raised its position in shares of Genuine Parts by 49.1% in the 2nd quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer's stock valued at $42,000 after purchasing an additional 114 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the stock in a transaction on Friday, September 26th. The stock was sold at an average price of $138.12, for a total value of $732,450.36. Following the sale, the executive vice president directly owned 26,112 shares of the company's stock, valued at $3,606,589.44. This trade represents a 16.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is owned by corporate insiders.

Genuine Parts Stock Performance

GPC stock opened at $130.34 on Monday. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The firm has a market cap of $18.13 billion, a P/E ratio of 22.43 and a beta of 0.77. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $144.29. The stock's 50 day simple moving average is $137.52 and its 200 day simple moving average is $127.40.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.02. The business had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The business's revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, equities research analysts predict that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th were given a $1.03 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.12 annualized dividend and a yield of 3.2%. Genuine Parts's dividend payout ratio (DPR) is currently 70.91%.

Analyst Upgrades and Downgrades

GPC has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Genuine Parts in a research report on Wednesday, October 8th. Evercore ISI upped their target price on Genuine Parts from $148.00 to $150.00 and gave the company an "outperform" rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. upped their target price on Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Truist Financial upped their target price on Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Loop Capital upped their target price on Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $138.86.

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.

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