Modera Wealth Management LLC Grows Stock Holdings in Genuine Parts (NYSE:GPC)

Modera Wealth Management LLC grew its stake in Genuine Parts (NYSE:GPC) by 12.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 19,349 shares of the specialty retailer’s stock after acquiring an additional 2,159 shares during the quarter. Modera Wealth Management LLC’s holdings in Genuine Parts were worth $2,259,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GPC. Pinnacle Associates Ltd. increased its position in Genuine Parts by 12.8% during the third quarter. Pinnacle Associates Ltd. now owns 3,549 shares of the specialty retailer’s stock worth $492,000 after purchasing an additional 404 shares during the last quarter. Stephens Inc. AR grew its stake in shares of Genuine Parts by 5.9% in the 3rd quarter. Stephens Inc. AR now owns 11,725 shares of the specialty retailer’s stock valued at $1,638,000 after buying an additional 657 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Genuine Parts by 90.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,300 shares of the specialty retailer’s stock worth $461,000 after buying an additional 1,569 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Genuine Parts by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 23,057 shares of the specialty retailer’s stock valued at $3,221,000 after buying an additional 2,286 shares during the period. Finally, Intact Investment Management Inc. lifted its holdings in Genuine Parts by 4.3% in the third quarter. Intact Investment Management Inc. now owns 33,662 shares of the specialty retailer’s stock valued at $4,702,000 after acquiring an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Down 0.7 %

Shares of NYSE:GPC opened at $124.00 on Tuesday. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The firm’s 50 day moving average price is $119.10 and its 200 day moving average price is $126.40. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The stock has a market cap of $17.21 billion, a price-to-earnings ratio of 19.17 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.07. The business had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same period in the previous year, the company earned $2.26 EPS. As a group, equities research analysts predict that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be given a dividend of $1.03 per share. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Friday, March 7th. Genuine Parts’s dividend payout ratio is currently 63.68%.

Insider Activity

In related news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on GPC shares. Loop Capital began coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective on the stock. Evercore ISI reduced their price target on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Finally, Truist Financial upped their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $137.63.

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.