Wulff Hansen & CO. Has $216.68 Million Stake in Genuine Parts (NYSE:GPC)

Wulff Hansen & CO. boosted its position in Genuine Parts (NYSE:GPC) by 13,732.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,566,474 shares of the specialty retailer’s stock after purchasing an additional 1,555,149 shares during the period. Genuine Parts accounts for about 1.2% of Wulff Hansen & CO.’s portfolio, making the stock its 20th biggest holding. Wulff Hansen & CO. owned about 1.12% of Genuine Parts worth $216,675,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GPC. Renaissance Technologies LLC bought a new position in Genuine Parts in the 2nd quarter valued at approximately $10,900,000. Citizens Financial Group Inc. RI raised its stake in shares of Genuine Parts by 12.3% during the second quarter. Citizens Financial Group Inc. RI now owns 3,685 shares of the specialty retailer’s stock valued at $513,000 after acquiring an additional 404 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Genuine Parts during the second quarter worth $3,961,000. Sierra Summit Advisors LLC grew its stake in shares of Genuine Parts by 21.2% in the second quarter. Sierra Summit Advisors LLC now owns 3,626 shares of the specialty retailer’s stock worth $502,000 after purchasing an additional 634 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Genuine Parts by 21.3% in the second 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 period. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GPC shares. Wedbush reduced their price objective on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. UBS Group decreased their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Saturday, September 7th. The Goldman Sachs Group cut their target price on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, Truist Financial reissued a “buy” rating and set a $164.00 price objective on shares of Genuine Parts in a research report on Wednesday, August 28th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $161.14.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $137.35 on Tuesday. The stock has a market cap of $19.13 billion, a price-to-earnings ratio of 15.31 and a beta of 0.90. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $164.45. The firm’s 50-day simple moving average is $139.47 and its 200 day simple moving average is $145.59.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. During the same quarter last year, the company posted $2.44 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. As a group, research analysts anticipate that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a $1.00 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.91%. Genuine Parts’s payout ratio is currently 44.59%.

Genuine Parts 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.