Nuveen LLC Makes New $41.65 Million Investment in Genuine Parts Company $GPC

Key Points

• Nuveen LLC has acquired a new stake in Genuine Parts Company, purchasing 349,559 shares valued at approximately $41.6 million, representing about 0.25% of the company.
• Analysts have set new price targets for Genuine Parts, with recommendations ranging from a "buy" rating to an "outperform" rating, with an average target price of $135.29.
• The company reported an earnings per share of $2.10 for the last quarter, surpassing analyst estimates, alongside a quarterly revenue increase of 3.4% year-over-year.

Nuveen LLC purchased a new stake in Genuine Parts Company (NYSE:GPC - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 349,559 shares of the specialty retailer's stock, valued at approximately $41,646,000. Nuveen LLC owned approximately 0.25% of Genuine Parts at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Goldman Sachs Group Inc. increased its holdings in Genuine Parts by 276.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer's stock valued at $399,449,000 after purchasing an additional 2,461,497 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Genuine Parts by 4.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,009,583 shares of the specialty retailer's stock worth $358,387,000 after acquiring an additional 119,653 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Genuine Parts by 22.1% in the first quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer's stock valued at $327,974,000 after buying an additional 498,469 shares during the last quarter. Stifel Financial Corp raised its position in shares of Genuine Parts by 21.6% during the 4th quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer's stock worth $292,233,000 after acquiring an additional 445,259 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Genuine Parts by 5.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,136,214 shares of the specialty retailer's stock worth $249,426,000 after buying an additional 104,343 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company's stock.

Wall Street Analysts Forecast Growth

GPC has been the topic of several research analyst reports. Truist Financial lifted their price target on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. UBS Group lifted their target price on Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Argus raised Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. Loop Capital raised their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Wall Street Zen downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Genuine Parts currently has a consensus rating of "Moderate Buy" and an average target price of $135.29.

Genuine Parts Stock Performance

GPC stock traded down $1.6650 during mid-day trading on Thursday, reaching $135.3250. The company had a trading volume of 83,452 shares, compared to its average volume of 1,393,734. 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 stock's 50-day simple moving average is $127.72 and its two-hundred day simple moving average is $123.17. Genuine Parts Company has a one year low of $104.01 and a one year high of $144.49. The stock has a market capitalization of $18.82 billion, a P/E ratio of 23.30 and a beta of 0.75.

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

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 5th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, September 5th. Genuine Parts's dividend payout ratio (DPR) is 70.91%.

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.