WealthPlan Investment Management LLC Purchases 9,913 Shares of Genuine Parts Company $GPC

Key Points

• WealthPlan Investment Management LLC increased its stake in Genuine Parts Company by 14.0%, acquiring an additional 9,913 shares during the second quarter, bringing its total holdings to 80,575 shares valued at approximately $9.8 million.
• Genuine Parts reported earnings of $2.10 per share, exceeding analysts' estimates, with revenue of $6.16 billion for the quarter, up 3.4% year-over-year.
• The company declared a quarterly dividend of $1.03 per share, resulting in an annualized dividend yield of 3.1%, with a payout ratio of 70.91%.

WealthPlan Investment Management LLC grew its position in Genuine Parts Company (NYSE:GPC - Free Report) by 14.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,575 shares of the specialty retailer's stock after acquiring an additional 9,913 shares during the quarter. WealthPlan Investment Management LLC owned 0.06% of Genuine Parts worth $9,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Rossby Financial LCC bought a new position in shares of Genuine Parts during the 1st quarter valued at approximately $25,000. Olde Wealth Management LLC bought a new position in shares of Genuine Parts during the 1st quarter valued at approximately $27,000. North Capital Inc. bought a new position in shares of Genuine Parts during the 1st quarter valued at approximately $28,000. Concord Wealth Partners increased its position in shares of Genuine Parts by 148.7% during the 2nd quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer's stock valued at $36,000 after purchasing an additional 177 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its position in shares of Genuine Parts by 7,950.0% during the 1st quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer's stock valued at $38,000 after purchasing an additional 318 shares during the last quarter. Institutional investors own 78.83% of the company's stock.

Genuine Parts Price Performance

Shares of GPC stock opened at $133.67 on Thursday. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $144.29. The stock has a market capitalization of $18.59 billion, a price-to-earnings ratio of 23.01 and a beta of 0.77. The stock has a fifty day simple moving average of $137.54 and a two-hundred day simple moving average of $127.57. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79.

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 the consensus estimate of $2.08 by $0.02. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The business had revenue of $6.16 billion during the quarter, compared to analysts' expectations of $6.10 billion. During the same period in the prior year, the business earned $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. On average, analysts predict that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, September 5th. Genuine Parts's dividend payout ratio is currently 70.91%.

Analyst Ratings Changes

GPC has been the topic of several analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Genuine Parts in a research report on Wednesday, October 8th. Truist Financial upped their price objective on Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Loop Capital upped their price objective on Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. UBS Group upped their price objective on Genuine Parts from $135.00 to $140.00 and gave the company a "neutral" rating in a research report on Friday, October 10th. Finally, JPMorgan Chase & Co. upped 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 investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $138.86.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president directly owned 26,112 shares in the company, valued at approximately $3,606,589.44. This represents a 16.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.42% of the company's stock.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.