Lbp Am Sa Decreases Holdings in Genuine Parts Company $GPC

Key Points

• Lbp Am Sa reduced its holdings in Genuine Parts Company by 12.4%, owning 35,221 shares valued at approximately $4.27 million as of the latest SEC filing.
• Several large investors, including Columbia Asset Management and Raleigh Capital Management Inc., have increased their positions in Genuine Parts Company, reflecting continued interest with 78.83% of the stock owned by institutional investors.
• Genuine Parts recently announced strong quarterly earnings, with an EPS of $2.10, surpassing estimates, and has declared a quarterly dividend of $1.03, representing an annualized yield of 3.0%.

Lbp Am Sa trimmed its position in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 12.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,221 shares of the specialty retailer's stock after selling 4,964 shares during the period. Lbp Am Sa's holdings in Genuine Parts were worth $4,273,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Columbia Asset Management raised its holdings in shares of Genuine Parts by 10.9% during the 2nd quarter. Columbia Asset Management now owns 5,240 shares of the specialty retailer's stock valued at $636,000 after buying an additional 515 shares in the last quarter. Centennial Wealth Advisory LLC purchased a new position in shares of Genuine Parts during the 2nd quarter valued at about $466,000. Raleigh Capital Management Inc. increased its holdings in shares of Genuine Parts by 11.7% in the second quarter. Raleigh Capital Management Inc. now owns 1,087 shares of the specialty retailer's stock worth $132,000 after buying an additional 114 shares during the period. Invesco LLC increased its holdings in shares of Genuine Parts by 3.8% in the second quarter. Invesco LLC now owns 19,150 shares of the specialty retailer's stock worth $2,323,000 after buying an additional 696 shares during the period. Finally, Albion Financial Group UT increased its holdings in shares of Genuine Parts by 3.7% in the second quarter. Albion Financial Group UT now owns 20,757 shares of the specialty retailer's stock worth $2,518,000 after buying an additional 749 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Genuine Parts

In other news, EVP Naveen Krishna sold 5,303 shares of the business's stock in a transaction that occurred 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. The trade was a 16.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.42% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Truist Financial lifted their price objective on Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Evercore ISI lifted their price objective on Genuine Parts from $148.00 to $150.00 and gave the stock an "outperform" rating in a report on Wednesday. UBS Group boosted their price target on Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Loop Capital boosted their price target on Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. lifted their price objective on Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $138.14.

Genuine Parts Stock Performance

Shares of GPC opened at $138.33 on Thursday. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79. The business's 50 day moving average price is $136.96 and its 200-day moving average price is $126.60. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $144.29. The stock has a market cap of $19.24 billion, a P/E ratio of 23.81 and a beta of 0.77.

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

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 5th. Genuine Parts's payout ratio is currently 70.91%.

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.

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