New Wave Wealth Advisors LLC Buys New Shares in Genuine Parts (NYSE:GPC)

New Wave Wealth Advisors LLC bought a new stake in shares of Genuine Parts (NYSE:GPC) during the fourth quarter, Holdings Channel reports. The institutional investor bought 1,844 shares of the specialty retailer’s stock, valued at approximately $215,000.

A number of other institutional investors also recently modified their holdings of GPC. Public Sector Pension Investment Board raised its holdings in Genuine Parts by 66.0% during the second quarter. Public Sector Pension Investment Board now owns 5,268 shares of the specialty retailer’s stock worth $729,000 after buying an additional 2,095 shares during the last quarter. Creative Planning raised its holdings in Genuine Parts by 0.5% during the second quarter. Creative Planning now owns 57,077 shares of the specialty retailer’s stock worth $7,895,000 after buying an additional 280 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Genuine Parts by 1.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 13,802 shares of the specialty retailer’s stock worth $1,909,000 after buying an additional 253 shares during the last quarter. Quarry LP raised its holdings in Genuine Parts by 822.2% during the second quarter. Quarry LP now owns 581 shares of the specialty retailer’s stock worth $80,000 after buying an additional 518 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Genuine Parts during the second quarter worth $3,437,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the sale, the director now directly owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on GPC shares. Wedbush lowered their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. reduced their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Truist Financial reduced their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, Loop Capital started coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price for the company. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Genuine Parts has an average rating of “Hold” and a consensus price target of $141.50.

Genuine Parts Price Performance

GPC opened at $118.12 on Friday. The firm has a market cap of $16.42 billion, a P/E ratio of 15.20 and a beta of 0.95. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The firm has a 50-day moving average of $119.88 and a 200 day moving average of $129.44.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.39%. The ex-dividend date was Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

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.