Prospera Financial Services Inc Has $522,000 Stock Holdings in Genuine Parts (NYSE:GPC)

Prospera Financial Services Inc lifted its holdings in shares of Genuine Parts (NYSE:GPC) by 36.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,732 shares of the specialty retailer’s stock after buying an additional 993 shares during the period. Prospera Financial Services Inc’s holdings in Genuine Parts were worth $522,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GPC. Wulff Hansen & CO. boosted its stake in shares of Genuine Parts by 13,732.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock worth $216,675,000 after buying an additional 1,555,149 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Genuine Parts by 14,222.1% in the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after purchasing an additional 580,262 shares during the last quarter. Boston Trust Walden Corp acquired a new stake in Genuine Parts in the 3rd quarter valued at about $39,474,000. Dimensional Fund Advisors LP lifted its stake in Genuine Parts by 21.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after purchasing an additional 239,858 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake in Genuine Parts by 29.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock valued at $135,579,000 after purchasing an additional 223,712 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. UBS Group cut their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. cut their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Truist Financial cut their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, Evercore ISI raised their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Trading Up 1.7 %

Shares of GPC stock opened at $124.80 on Friday. The firm has a 50 day moving average price of $129.44 and a two-hundred day moving average price of $137.26. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $17.35 billion, a PE ratio of 16.06 and a beta of 0.92. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same period in the prior year, the business posted $2.49 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, analysts predict that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.21%. Genuine Parts’s dividend payout ratio is presently 51.48%.

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.