Versor Investments LP Invests $759,000 in Genuine Parts (NYSE:GPC)

Versor Investments LP acquired a new position in shares of Genuine Parts (NYSE:GPC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,500 shares of the specialty retailer’s stock, valued at approximately $759,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Metis Global Partners LLC lifted its holdings in shares of Genuine Parts by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock worth $625,000 after acquiring an additional 85 shares during the period. Guardian Wealth Advisors LLC lifted its holdings in shares of Genuine Parts by 2.7% during the 3rd quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock worth $484,000 after acquiring an additional 91 shares during the period. Marco Investment Management LLC lifted its holdings in shares of Genuine Parts by 1.2% during the 3rd quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock worth $1,104,000 after acquiring an additional 91 shares during the period. Hartford Financial Management Inc. lifted its holdings in Genuine Parts by 0.5% during the 4th quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock valued at $2,185,000 after purchasing an additional 99 shares during the last quarter. Finally, Citizens Financial Group Inc. RI lifted its holdings in Genuine Parts by 2.8% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock valued at $533,000 after purchasing an additional 103 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the sale, the director now owns 11,357 shares in the company, valued at $1,371,698.46. The trade was a 12.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.37% of the stock is owned by corporate insiders.

Genuine Parts Trading Up 1.9 %

Shares of NYSE GPC opened at $125.02 on Friday. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a market cap of $17.35 billion, a PE ratio of 19.32 and a beta of 0.94. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The company has a 50-day moving average of $118.94 and a two-hundred day moving average of $126.65.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the previous year, the firm posted $2.26 earnings per share. As a group, equities analysts expect that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be given a dividend of $1.03 per share. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 3.30%. Genuine Parts’s payout ratio is currently 63.68%.

Analysts Set New Price Targets

Several brokerages recently issued reports on GPC. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Evercore ISI cut their price target on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Loop Capital began coverage on shares of Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target for the company. Finally, Truist Financial lifted their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $137.63.

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.