Genuine Parts Company $GPC Shares Purchased by Pzena Investment Management LLC

Pzena Investment Management LLC lifted its holdings in Genuine Parts Company (NYSE:GPC) by 98.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 596,051 shares of the specialty retailer’s stock after purchasing an additional 295,064 shares during the quarter. Pzena Investment Management LLC’s holdings in Genuine Parts were worth $72,307,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Bill Few Associates Inc. grew its stake in shares of Genuine Parts by 5.8% in the second quarter. Bill Few Associates Inc. now owns 3,489 shares of the specialty retailer’s stock worth $423,000 after purchasing an additional 192 shares in the last quarter. GW Henssler & Associates Ltd. grew its stake in shares of Genuine Parts by 17.6% in the second quarter. GW Henssler & Associates Ltd. now owns 6,887 shares of the specialty retailer’s stock worth $835,000 after purchasing an additional 1,030 shares in the last quarter. CWM LLC grew its stake in shares of Genuine Parts by 108.6% in the second quarter. CWM LLC now owns 8,012 shares of the specialty retailer’s stock worth $972,000 after purchasing an additional 4,172 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of Genuine Parts in the second quarter worth $105,000. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of Genuine Parts by 15.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,579 shares of the specialty retailer’s stock worth $1,284,000 after purchasing an additional 1,403 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Insider Buying and Selling at Genuine Parts

In related news, EVP Naveen Krishna sold 5,303 shares of the 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 transaction, the executive vice president owned 26,112 shares in the company, valued at $3,606,589.44. This trade represents a 16.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.42% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GPC. UBS Group increased their price target on Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. increased their price target on Genuine Parts from $134.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Loop Capital raised their target price on Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Evercore ISI raised their target price on Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Finally, Truist Financial raised their target price on Genuine Parts from $137.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $138.86.

Genuine Parts Trading Down 0.9%

NYSE:GPC opened at $130.34 on Monday. 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 1-year low of $104.01 and a 1-year high of $144.29. The firm has a market capitalization of $18.13 billion, a price-to-earnings ratio of 22.43 and a beta of 0.77. The stock has a fifty day simple moving average of $137.52 and a 200 day simple moving average of $127.40.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $6.10 billion. During the same quarter last year, the company posted $2.44 EPS. Genuine Parts’s revenue for the quarter was up 3.4% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Sell-side analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Friday, September 5th were given a $1.03 dividend. The ex-dividend date was Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.2%. Genuine Parts’s dividend payout ratio (DPR) is 70.91%.

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.