Wealth Enhancement Advisory Services LLC Acquires 42,753 Shares of Genuine Parts Company $GPC

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Genuine Parts Company by 51.6%, acquiring an additional 42,753 shares, bringing its total to 125,582 shares valued at $16 million.
• Genuine Parts reported a net margin of 3.40% and earnings per share of $2.10 for the last quarter, exceeding analysts' expectations.
• The firm announced a quarterly dividend of $1.03, set to be paid out on October 2nd, representing an annualized yield of 3.0%.

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 51.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 125,582 shares of the specialty retailer's stock after purchasing an additional 42,753 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.09% of Genuine Parts worth $16,000,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Swedbank AB increased its holdings in shares of Genuine Parts by 2.6% during the second quarter. Swedbank AB now owns 118,059 shares of the specialty retailer's stock worth $14,322,000 after buying an additional 3,019 shares in the last quarter. Focus Financial Network Inc. increased its holdings in shares of Genuine Parts by 3.6% during the second quarter. Focus Financial Network Inc. now owns 3,031 shares of the specialty retailer's stock worth $371,000 after buying an additional 104 shares in the last quarter. Pallas Capital Advisors LLC acquired a new position in shares of Genuine Parts during the second quarter worth $315,000. StrongBox Wealth LLC increased its holdings in shares of Genuine Parts by 25.7% during the second quarter. StrongBox Wealth LLC now owns 2,399 shares of the specialty retailer's stock worth $291,000 after buying an additional 490 shares in the last quarter. Finally, Berkshire Bank increased its holdings in shares of Genuine Parts by 11.7% during the second quarter. Berkshire Bank now owns 2,845 shares of the specialty retailer's stock worth $345,000 after buying an additional 298 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Trading Down 0.4%

Shares of GPC stock opened at $137.41 on Monday. The company has a 50 day moving average of $135.01 and a 200-day moving average of $125.84. 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 Company has a 12-month low of $104.01 and a 12-month high of $144.29. The firm has a market cap of $19.11 billion, a P/E ratio of 23.65 and a beta of 0.75.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The company had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.10 billion. During the same quarter last year, the business posted $2.44 EPS. Genuine Parts's quarterly revenue 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. Sell-side analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

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

Wall Street Analyst Weigh In

GPC has been the subject of a number of recent research reports. Loop Capital increased their price objective on Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Evercore ISI increased their price objective on shares of Genuine Parts from $145.00 to $148.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 26th. UBS Group raised their price target on shares of Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Truist Financial raised their price target on shares of Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. One 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $137.86.

About Genuine Parts

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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