Nations Financial Group Inc. IA ADV Buys 512 Shares of Genuine Parts (NYSE:GPC)

Nations Financial Group Inc. IA ADV increased its stake in Genuine Parts (NYSE:GPC) by 17.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,444 shares of the specialty retailer’s stock after purchasing an additional 512 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Genuine Parts were worth $481,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ashton Thomas Securities LLC bought a new stake in shares of Genuine Parts during the third quarter valued at about $26,000. Capital Performance Advisors LLP bought a new stake in Genuine Parts during the 3rd quarter worth approximately $31,000. Concord Wealth Partners lifted its stake in Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 119 shares in the last quarter. Triad Wealth Partners LLC bought a new position in Genuine Parts in the 2nd quarter valued at $40,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Genuine Parts during the 3rd quarter valued at $44,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Up 0.8 %

Shares of NYSE GPC opened at $123.70 on Thursday. The stock has a market capitalization of $17.20 billion, a P/E ratio of 15.92 and a beta of 0.92. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The firm’s 50 day simple moving average is $131.29 and its two-hundred day simple moving average is $138.94. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC) last released 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). The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. Genuine Parts’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.49 EPS. As a group, analysts expect that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GPC shares. UBS Group lowered their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research report on Monday. Wedbush dropped their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, Evercore ISI increased their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and a consensus target price of $139.57.

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.