Bank of Nova Scotia Has $2.05 Million Position in Genuine Parts Company $GPC

Bank of Nova Scotia lessened its holdings in shares of Genuine Parts Company (NYSE:GPC) by 80.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 19,379 shares of the specialty retailer’s stock after selling 80,385 shares during the period. Bank of Nova Scotia’s holdings in Genuine Parts were worth $2,049,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GPC. United Asset Strategies Inc. grew its position in Genuine Parts by 1.6% in the fourth quarter. United Asset Strategies Inc. now owns 4,492 shares of the specialty retailer’s stock worth $552,000 after acquiring an additional 72 shares in the last quarter. J2 Capital Management Inc increased its stake in shares of Genuine Parts by 1.9% during the 4th quarter. J2 Capital Management Inc now owns 4,136 shares of the specialty retailer’s stock worth $509,000 after purchasing an additional 79 shares during the last quarter. IHT Wealth Management LLC raised its holdings in shares of Genuine Parts by 1.8% during the 4th quarter. IHT Wealth Management LLC now owns 4,644 shares of the specialty retailer’s stock valued at $571,000 after purchasing an additional 83 shares in the last quarter. Oakworth Capital Inc. raised its holdings in shares of Genuine Parts by 1.9% during the 4th quarter. Oakworth Capital Inc. now owns 4,680 shares of the specialty retailer’s stock valued at $575,000 after purchasing an additional 88 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Genuine Parts by 34.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 341 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 88 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

GPC has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Genuine Parts in a research note on Wednesday, June 24th. UBS Group reiterated a “neutral” rating and set a $122.00 price target on shares of Genuine Parts in a report on Wednesday, July 22nd. Raymond James Financial reissued a “strong-buy” rating and issued a $165.00 price target on shares of Genuine Parts in a research report on Wednesday, July 22nd. DA Davidson boosted their price objective on shares of Genuine Parts from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Finally, Truist Financial upped their price objective on shares of Genuine Parts from $124.00 to $126.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $145.00.

Insiders Place Their Bets

In other news, insider James F. Howe sold 415 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $104.33, for a total value of $43,296.95. Following the transaction, the insider directly owned 25,589 shares of the company’s stock, valued at $2,669,700.37. The trade was a 1.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.13% of the company’s stock.

Genuine Parts Stock Performance

GPC opened at $130.22 on Thursday. The stock’s 50 day simple moving average is $112.62 and its 200-day simple moving average is $115.59. The company has a current ratio of 1.16, a quick ratio of 0.50 and a debt-to-equity ratio of 0.88. The stock has a market cap of $17.95 billion, a PE ratio of 520.88 and a beta of 0.63. Genuine Parts Company has a 1 year low of $90.78 and a 1 year high of $151.57.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, July 21st. The specialty retailer reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.07. The company had revenue of $6.54 billion during the quarter, compared to the consensus estimate of $6.43 billion. Genuine Parts had a net margin of 0.13% and a return on equity of 22.59%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $2.10 EPS. Genuine Parts has set its FY 2026 guidance at 7.500-8.000 EPS. Sell-side analysts forecast that Genuine Parts Company will post 7.72 EPS for the current year.

Genuine Parts Company Profile

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.