Orion Portfolio Solutions LLC Increases Stock Position in Genuine Parts (NYSE:GPC)

Orion Portfolio Solutions LLC grew its holdings in Genuine Parts (NYSE:GPC) by 333.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,856 shares of the specialty retailer’s stock after buying an additional 29,117 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Genuine Parts were worth $4,420,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Hartford Financial Management Inc. grew its position in Genuine Parts by 0.5% during the fourth quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock worth $2,185,000 after buying an additional 99 shares during the period. New York Life Investment Management LLC boosted its stake in shares of Genuine Parts by 0.6% during the 4th quarter. New York Life Investment Management LLC now owns 18,743 shares of the specialty retailer’s stock worth $2,188,000 after acquiring an additional 108 shares in the last quarter. Grimes & Company Inc. grew its holdings in shares of Genuine Parts by 3.3% in the 4th quarter. Grimes & Company Inc. now owns 3,494 shares of the specialty retailer’s stock worth $408,000 after acquiring an additional 111 shares during the period. Pinnacle Financial Partners Inc increased its stake in Genuine Parts by 2.5% in the 4th quarter. Pinnacle Financial Partners Inc now owns 4,630 shares of the specialty retailer’s stock valued at $541,000 after purchasing an additional 115 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in Genuine Parts by 1.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,512 shares of the specialty retailer’s stock worth $877,000 after purchasing an additional 128 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Trading Down 1.7 %

NYSE:GPC opened at $118.49 on Monday. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The business’s 50-day moving average is $121.13 and its two-hundred day moving average is $124.00. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The firm has a market capitalization of $16.44 billion, a PE ratio of 18.31 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The firm had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the prior year, the business earned $2.26 EPS. 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 declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be paid a $1.03 dividend. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 3.48%. Genuine Parts’s payout ratio is 63.68%.

Analysts Set New Price Targets

GPC has been the subject of a number of research analyst reports. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Evercore ISI dropped their target price on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Truist Financial upped their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, Loop Capital assumed coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $137.63.

Genuine Parts Company 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.