Pine Valley Investments Ltd Liability Co Cuts Holdings in Genuine Parts (NYSE:GPC)

Pine Valley Investments Ltd Liability Co decreased its holdings in Genuine Parts (NYSE:GPC) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,938 shares of the specialty retailer’s stock after selling 1,137 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Genuine Parts were worth $3,040,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Private Advisor Group LLC raised its position in Genuine Parts by 3.2% in the 3rd quarter. Private Advisor Group LLC now owns 25,418 shares of the specialty retailer’s stock worth $3,550,000 after buying an additional 799 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Genuine Parts by 8.5% in the third quarter. Assenagon Asset Management S.A. now owns 4,627 shares of the specialty retailer’s stock worth $646,000 after acquiring an additional 361 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Genuine Parts by 36.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,814 shares of the specialty retailer’s stock valued at $1,951,000 after purchasing an additional 3,718 shares during the last quarter. Forsta AP Fonden lifted its position in Genuine Parts by 14.0% during the third quarter. Forsta AP Fonden now owns 31,800 shares of the specialty retailer’s stock valued at $4,442,000 after purchasing an additional 3,900 shares during the period. Finally, Modera Wealth Management LLC boosted its holdings in Genuine Parts by 614.2% in the third quarter. Modera Wealth Management LLC now owns 17,190 shares of the specialty retailer’s stock worth $2,401,000 after purchasing an additional 14,783 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Up 0.5 %

GPC stock opened at $122.19 on Tuesday. The business’s 50-day moving average price is $118.36 and its 200-day moving average price is $126.88. The stock has a market cap of $16.99 billion, a P/E ratio of 18.89 and a beta of 0.94. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.07. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same quarter in the previous year, the firm earned $2.26 earnings per share. On average, equities research analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Friday, March 7th. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio is presently 63.68%.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the sale, the director now owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Evercore ISI decreased 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 research note on Wednesday, February 19th. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Loop Capital assumed coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target for the company. Finally, Truist Financial raised their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.