Nomura Asset Management Co. Ltd. Decreases Stock Holdings in Genuine Parts Company $GPC

Key Points

• Nomura Asset Management trimmed its stake in Genuine Parts by 4.8% in the fourth quarter, selling 16,230 shares and leaving it with 320,921 shares worth about $39.46 million.
• Institutional ownership remains high, with hedge funds and other institutional investors holding 78.83% of the company’s stock; several firms recently increased or initiated positions in GPC.
• Genuine Parts reported better-than-expected quarterly results with EPS of $1.77 and revenue of $6.26 billion, while also maintaining a quarterly dividend of $1.0625 per share, implying a 4.3% yield.

Nomura Asset Management Co. Ltd. lowered its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 4.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 320,921 shares of the specialty retailer's stock after selling 16,230 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.23% of Genuine Parts worth $39,460,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GPC. Norges Bank bought a new stake in Genuine Parts in the 4th quarter worth approximately $293,471,000. Baupost Group LLC MA bought a new position in shares of Genuine Parts during the 3rd quarter valued at $193,347,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Genuine Parts by 7,774.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,234,984 shares of the specialty retailer's stock valued at $151,854,000 after buying an additional 1,219,300 shares during the period. Interval Partners LP lifted its holdings in shares of Genuine Parts by 422.5% during the 3rd quarter. Interval Partners LP now owns 932,596 shares of the specialty retailer's stock valued at $129,258,000 after buying an additional 754,117 shares during the period. Finally, Junto Capital Management LP purchased a new position in shares of Genuine Parts in the 3rd quarter worth $65,551,000. Hedge funds and other institutional investors own 78.83% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on GPC. Truist Financial reduced their price objective on Genuine Parts from $127.00 to $124.00 and set a "hold" rating for the company in a research report on Wednesday, April 22nd. Raymond James Financial upgraded Genuine Parts from a "market perform" rating to a "strong-buy" rating and set a $145.00 price objective for the company in a research report on Tuesday, February 24th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Genuine Parts in a research report on Friday, March 27th. Zacks Research raised shares of Genuine Parts from a "strong sell" rating to a "hold" rating in a research report on Monday, May 25th. Finally, UBS Group reduced their price target on shares of Genuine Parts from $135.00 to $125.00 and set a "neutral" rating for the company in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Genuine Parts presently has a consensus rating of "Moderate Buy" and an average price target of $143.71.

Insider Transactions at Genuine Parts

In other Genuine Parts news, insider James F. Howe sold 415 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $104.33, for a total transaction of $43,296.95. Following the transaction, the insider directly owned 25,589 shares in the company, valued at $2,669,700.37. This trade represents a 1.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.13% of the stock is currently owned by company insiders.

Genuine Parts Trading Down 0.1%

Shares of Genuine Parts stock opened at $98.55 on Monday. Genuine Parts Company has a twelve month low of $90.78 and a twelve month high of $151.57. The company has a quick ratio of 0.48, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The business has a 50-day moving average price of $103.65 and a 200-day moving average price of $119.29. The firm has a market cap of $13.56 billion, a price-to-earnings ratio of 229.19 and a beta of 0.67.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its earnings results on Tuesday, April 21st. The specialty retailer reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.02. Genuine Parts had a return on equity of 22.28% and a net margin of 0.24%.The firm had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.17 billion. During the same period in the previous year, the firm posted $1.75 earnings per share. The business's revenue was up 6.8% compared to the same quarter last year. Genuine Parts has set its FY 2026 guidance at 7.500-8.000 EPS. Equities research analysts anticipate that Genuine Parts Company will post 7.65 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 5th will be paid a $1.0625 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.25 annualized dividend and a yield of 4.3%. Genuine Parts's dividend payout ratio is 988.37%.

Genuine Parts Company 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.

Want to see what other hedge funds are holding GPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genuine Parts Company (NYSE:GPC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.