Public Employees Retirement Association of Colorado Acquires 10,683 Shares of Genuine Parts (NYSE:GPC)

Public Employees Retirement Association of Colorado grew its holdings in Genuine Parts (NYSE:GPC) by 10.1% during the 1st quarter, Holdings Channel reports. The fund owned 116,340 shares of the specialty retailer’s stock after buying an additional 10,683 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Genuine Parts were worth $18,025,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. NBC Securities Inc. raised its position in shares of Genuine Parts by 27.1% during the 4th quarter. NBC Securities Inc. now owns 3,129 shares of the specialty retailer’s stock valued at $433,000 after purchasing an additional 668 shares during the period. ICW Investment Advisors LLC raised its position in shares of Genuine Parts by 2.8% during the 4th quarter. ICW Investment Advisors LLC now owns 8,084 shares of the specialty retailer’s stock valued at $1,120,000 after purchasing an additional 221 shares during the period. BNP Paribas Financial Markets raised its position in shares of Genuine Parts by 22.0% during the 4th quarter. BNP Paribas Financial Markets now owns 148,121 shares of the specialty retailer’s stock valued at $20,515,000 after purchasing an additional 26,710 shares during the period. Stifel Financial Corp raised its position in shares of Genuine Parts by 27.0% during the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after purchasing an additional 431,623 shares during the period. Finally, Conning Inc. raised its position in shares of Genuine Parts by 5.9% during the 4th quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock valued at $31,501,000 after purchasing an additional 12,634 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the completion of the transaction, the director now directly owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Price Performance

Shares of NYSE:GPC traded up $0.50 on Monday, reaching $142.47. The company’s stock had a trading volume of 372,067 shares, compared to its average volume of 1,021,586. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $164.45. The company has a market cap of $19.85 billion, a P/E ratio of 15.87 and a beta of 0.92. The company has a 50-day simple moving average of $140.29 and a 200 day simple moving average of $146.41. 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 (NYSE:GPC) last issued its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the previous year, the business earned $2.44 earnings per share. The business’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities research analysts anticipate that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were paid a $1.00 dividend. The ex-dividend date was Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.81%. Genuine Parts’s payout ratio is currently 44.59%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Truist Financial reduced their price target on shares of Genuine Parts from $183.00 to $164.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. UBS Group reduced their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Jefferies Financial Group lifted their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Finally, Evercore ISI reduced their price target on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $161.14.

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.