USS Investment Management Ltd Sells 10,400 Shares of Genuine Parts Company $GPC

Key Points

• USS Investment Management Ltd has decreased its stake in Genuine Parts Company by 26.1%, selling 10,400 shares and now holding 29,483 shares valued at approximately $3.5 million.
• Despite a solid quarterly earnings report, with $6.16 billion in revenue and a 2.9% annual dividend yield, analysts express economic uncertainties regarding the company.
• Several institutions, including Horizon Investments and Pinnacle Associates, have increased their positions in Genuine Parts, indicating overall strong institutional interest in the stock.

USS Investment Management Ltd decreased its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 26.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,483 shares of the specialty retailer's stock after selling 10,400 shares during the quarter. USS Investment Management Ltd's holdings in Genuine Parts were worth $3,513,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Horizon Investments LLC lifted its stake in Genuine Parts by 4.8% in the first quarter. Horizon Investments LLC now owns 1,996 shares of the specialty retailer's stock valued at $238,000 after acquiring an additional 91 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in Genuine Parts by 2.8% in the first quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer's stock valued at $402,000 after acquiring an additional 93 shares during the last quarter. Truvestments Capital LLC lifted its stake in Genuine Parts by 11.9% in the first quarter. Truvestments Capital LLC now owns 895 shares of the specialty retailer's stock valued at $107,000 after acquiring an additional 95 shares during the last quarter. Strategic Wealth Partners Ltd. lifted its stake in Genuine Parts by 4.2% in the fourth quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock valued at $302,000 after acquiring an additional 98 shares during the last quarter. Finally, Keybank National Association OH lifted its stake in Genuine Parts by 0.5% in the first quarter. Keybank National Association OH now owns 20,862 shares of the specialty retailer's stock valued at $2,486,000 after acquiring an additional 98 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. UBS Group increased their price target on shares of Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Truist Financial increased their price target on shares of Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Loop Capital increased 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, Evercore ISI increased their price objective on shares of Genuine Parts from $145.00 to $148.00 and gave the company an "outperform" rating in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $137.86.

Genuine Parts Stock Performance

Shares of GPC traded down $1.41 during trading hours on Friday, hitting $141.36. The company had a trading volume of 856,705 shares, compared to its average volume of 1,388,976. The firm has a market cap of $19.66 billion, a price-to-earnings ratio of 24.33 and a beta of 0.75. The business has a fifty day moving average of $133.42 and a 200-day moving average of $125.17. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $144.29. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79.

Genuine Parts (NYSE:GPC - Get Free Report) last released 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 net margin of 3.40% and a return on equity of 22.41%. The business had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.10 billion. During the same period last year, the firm earned $2.44 earnings per share. Genuine Parts'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 analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 5th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, September 5th. Genuine Parts's dividend payout ratio (DPR) is currently 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.